Obama Student Loan Relief Act 2011
October 26, 2011
President Obama is taking steps to ease the burden of student loans. Student loans are set to reach 1 trillion dollars and have exceeded consumer credit card debt as of June 2010.
Key Points:
- Student loan payments capped at 10 percent of income.
- Some borrowers may qualify to have federal student loans consolidated at reduced interest rates.
- Federal loans forgiven after 20 years instead of the current 25 year law.
From the web
White House Press Release
White House Fact Sheet
InsideHigherEd.com – Loan Changes, Sans Congress
Reuters – coverage
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The latest news about student debt. Find out the issues facings students and graduates when it comes to dealing with student debt. You can get help with your student loan debt, credit cards, private student loans and federal student loans. Options include a student loan consolidation, forbearance, change in payment plan, or a temporary deferment.
Learn how the student debt crisis can affect the U.S. economy.