President Obama told students at the University of North Carolina Tuesday that he knows what it is like to struggle with student loan debt because he and his wife didn’t pay off their student loans until eight years ago.

“We only finished paying off our student loans off about eight years ago,” the president said. “That wasn’t that long ago. And that wasn’t easy – especially because when we had Malia and Sasha, we’re supposed to be saving up for their college educations, and we’re still paying off our college educations.”…

But according to their tax returns, which are available on the White House website, the Obamas had a healthy, six-figure income by the year 2000 (the earliest return available). And for at least two years before his loans were paid off, Obama, by his own definition, made so much they were wealthy enough to pay higher taxes.