25/04/2012 06:40 BST | Updated 30/07/2012 11:42 BST

Barack Obama: I Only Finished Paying Off My Student Debts Eight Years Ago

Barack Obama has admitted he only finished paying off his student debts eight years ago, in an effort to empathise with cash-strapped students.

Speaking at the University of North Carolina, the president of the United States told young voters he and his wife were "poor together", The Hill reported.

"Michelle and I, we've been in your shoes. We didn't come from wealthy families. So, when we graduated from college and law school we had a mountain of debt."

"We only finished paying off our loans, check this out: I'm the president of the United States ... we only finished paying off our student loans about eight years ago.

"That wasn't that long ago."

After visiting Carolina, Obama headed to Iowa University, where he hailed himself as the defender of cheaper student loans.

In contrast to Obama's struggle to gain an education, David Cameron is an old Etonian, the 19th prime minister of Great Britain to attend the prestigious boys school near Windsor - while deputy PM Nick Clegg attended Westminster.