PRESIDENT BARACK OBAMA AND FORMER GOV. MITT ROMNEY PARTICIPATE IN A CANDIDATES DEBATE, HOFSTRA UNIVERSITY, HEMPSTEAD, NEW YORK

OCTOBER 16, 2012

SPEAKERS: FORMER GOV. MITT ROMNEY, R-MASS.

PRESIDENT BARACK OBAMA

CANDY CROWLEY, MODERATOR

[*] CROWLEY: Good evening from Hofstra University in Hempstead, New York. I'm Candy Crowley from CNN's "State of the Union." We are here for the second presidential debate, a town hall, sponsored by the Commission on Presidential Debates.

CROWLEY: The Gallup organization chose 82 uncommitted voters from the New York area. Their questions will drive the night. My goal is to give the conversation direction and to ensure questions get answered.

The questions are known to me and my team only. Neither the commission, nor the candidates have seen them. I hope to get to as many questions as possible.

CROWLEY: And because I am the optimistic sort, I'm sure the candidates will oblige by keeping their answers concise and on point.

Each candidate has as much as two minutes to respond to a common question, and there will be a two-minute follow-up. The audience here in the hall has agreed to be polite and attentive -- no cheering or booing or outbursts of any sort.

We will set aside that agreement just this once to welcome President Barack Obama and Governor Mitt Romney.

(APPLAUSE)

Gentlemen, thank you both for joining us here tonight. We have a lot of folks who've been waiting all day to talk to you, so I want to get right to it.

Governor Romney, as you know, you won the coin toss, so the first question will go to you. And I want to turn to a first-time voter, Jeremy Epstein, who has a question for you.

QUESTION: Mr. President, Governor Romney, as a 20-year-old college student, all I hear from professors, neighbors and others is that when I graduate, I will have little chance to get employment. What can you say to reassure me, but more importantly my parents, that I will be able to sufficiently support myself after I graduate?

ROMNEY: Thank you, Jeremy. I appreciate your -- your question, and thank you for being here this evening and to all of those from Nassau County that have come, thank you for your time. Thank you to Hofstra University and to Candy Crowley for organizing and leading this -- this event.

Thank you, Mr. President, also for being part of this -- this debate.

Your question -- your question is one that's being asked by college kids all over this country. I was in Pennsylvania with someone who had just graduated -- this was in Philadelphia -- and she said, "I've got my degree. I can't find a job. I've got three part- time jobs. They're just barely enough to pay for my food and pay for an apartment. I can't begin to pay back my student loans."

So what we have to do is two things. We have to make sure that we make it easier for kids to afford college.

ROMNEY: And also make sure that when they get out of college, there's a job. When I was governor of Massachusetts, to get a high school degree, you had to pass an exam. If you graduated in the top quarter of your airlines, we gave you a John and Abigail Adams scholarship, four years tuition free in the college of your choice in Massachusetts, it's a public institution.

I want to make sure we keep our Pell grant program growing. We're also going to have our loan program, so that people are able to afford school. But the key thing is to make sure you can get a job when you get out of school. And what's happened over the last four years has been very, very hard for America's young people. I want you to be able to get a job.