Wednesday, October 26, 2011

Obama Speaks on Student Loans and College Affordability

Here is the White House fact sheet on student loan debt. I wonder if Mitt Romney ever had a student loan. He doesn't seem the type of person who's ever had to struggle financially. But I don't know if that's true or not. It's just the air he gives off. Anyway, I'll look into that. Here is more on how Obama has gotten around Congress on student loan reform and how republicans would change that if given the opportunity. There is one big bummer to the new rules that begin in 2012 -- people with existing student loans won't be eligible for the new lower income-based payments of 10% instead of 15% of discretionary income and forgiveness after 20 years instead of 25 years of payment.
Full video:

Here's a good explainer: