lightening the debt, if you are having trouble for federal, private loans, like those provided by sally mae to us about that. >> federal offer the most flexibility. because the standard repayment term is ten years, but you can change that the. you could for example extend the repayment period which lowers the payments. you will pay more interest over the term of the loan but the payments are more manageable and fit in your budget. one of the neatest thing is the income contingent plans where your payment is contingent on the income you make. so if you make a lower income in a lower income job you can make your payment more manageable. >> private loans like those provided by sally mae. what's your take this. >> they don't have the same f x flexibili flexibility, but get in touch with the lender, particularly sally mae. they have an advocate for student loans. they say if you call them and you are having trouble paying loans they will try to work something out with you. if you are having problems and you don't know what to do the about it don't sit there and stew. >> one strategy is to avoid

pbf energy, sallie mae, baltimore air coil, miller metal, bloom energy, mount air farms and capital one. we've got to continue these efforts and remain nimble and opportunistic and aggressive when large employers present job opportunities. that's why i'll again recommend significant funding for the strategic fund next year. but to do more than just keep pace, to keep distance from ourselves and our competitors, we've got to look beyond at direct benefits our larger employers provide. we must capitalize on their presence to build our competitive edge. we already have terrific small businesses. but we aspire to see more created and to see them grow quickly. and to accomplish that we must nurture the small businesses and the new companies that will thrive in the hospitable soil that our world-class work force create around them. now following up on the recent imagine delaware news form, we're finding new ways to support entrepreneurs. over the last months we have studied best practices at entrepreneurial support centers around the country in places as far away as silicon valley and as near

money for themselves they hired lobbyists and they corrupted the very process that created them sallie mae the company that handles student loans bought two jets and spent two hundred fifty thousand dollars on bush's inauguration i mean this whole potato has been privatized so they are semi-private sized to socialize for socialize for exactly they they have the profit motive running them but they have the government backstopping them and that's like that's like the worst thing you can imagine it's like saying every any country well it's what the banks got right exactly just. so so the simple answer basically is we need to either what end these agents but there's a need for these agencies and there is for somebody to backstop if mortgages there's no i certainly think there is and one of the scary things is that there was a democratic proposal so just turn it back over to wall street banks and let them do that and that came out of the center for american progress so what we really need to do is bring this agency back to what it was for thirty years after franklin delano roosevelt which is a

sally mae needs to move out of the spare bedroom we've got to get rid of this debt you start having discussionscuts in congress it can get violent at first the truth is it gets you to where you need to go you identify the problem areas. >> >> dave johnson: dave, dave, you had me until congress. we realize we have been going about this wrong we want to do this better, where do we make cuts once we see what we are spending on paper. >> what is weird, people ask me all the time when i am doing interviews dave what is the number one mistake people make with money they don't pay attention when you start paying attention most people have enough brain cell power to look down and go that's dumb we know what's dumb we just kind of avoid it we know what makes us fat but eat it any way. so you know when you make that list, for your food you make that list for your money the problem areas, weak spots will be glaring up at you and you will go, we really got to stop that. i had one guy i was sitting in class with teaching years ago when we added it up we spent $1,200 on restaurants per month, we didn't have

sallie mae has not been willing to discuss negotiating any kind of payment. under the consumer protection finance agency with these people be able to call your office and at least give a yes or no answer of what they could do to help to the process? >> let me say generally, we have all heard the horror stories about mortgage servicing, and there you hear from the same people the we do. there is a growing problem in the student loan servicing rome as well. it is of concern, we are aware. we are taking consumer complaints on our website, credit card products and mortgage products and student loans will be one of those. in the meantime, we are working on trying to simplify and clarify the stallone shopping worksheet that we have worked, the part of education to try to make things easier for students and their families to understand what choices they're making. so it's an area that is of growing importance. we know not to which is grown. the burden is on people. they're stuck with these other problems that occur. >> thank you and i yield back. >> i think my colle