Nightly News   |  October 25, 2011

Obama offers help with student loans

President Obama is headed to Denver where he’s set to announce a plan to help lower some monthly student loan payments. NBC’s Kristen Welker has more.

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This content comes from a Full-Text Transcript of the program.

BRIAN WILLIAMS, anchor: President Obama 's headed to Denver , where he is set to announce a plan to help lower some monthly student loan payments, but it's what he said on his way there that got some attention today. Kristen Welker traveling with the president with us from Denver . Kristen , these comments, what I saw of them, seem to go to the core of American spirit and capability these days.

KRISTEN WELKER reporting: That's right . They absolutely do. President Obama talking about things like the Hoover Dam , and we'll get to that in just one second, Brian , but for the second consecutive day, President Obama is using his executive power to, as he says, help those who are struggling with this economy. Yesterday it was underwater mortgages. Today it's student loans, as we're saying. According to White House officials, new graduate loan payments could be capped at 10 percent of the graduate's salary, and they say graduates could consolidate their loan payments at lower interest rates. President Obama continuing on a three-day West Coast tour, which also includes some politicking and fundraising, and he got a little bit somber at a fundraiser in San Francisco . Take a listen.

President BARACK OBAMA: Well, we've lost our ambition, our imagination and our willingness to do the things that built the Golden Gate Bridge and...

WELKER: Now, President Obama also encouraging his supporters not to get cynical, not to give up. He will appear on " The Tonight Show with Jay Leno " later on this evening, where you will likely hear a more upbeat President

Obama. Brian: All right. As we could see there, he was talking about the Golden Gate Bridge , Hoover Dam , projects like that in this country. Kristen Welker traveling with the president. Thanks.