Of the many long-term problems the U.S. economy faces, student loans are a big one. Education costs are rising very quickly and incomes aren't. As a result, students will have to borrow more and more money to obtain university degrees and will have a tougher time paying their loans. President Obama seeks to respond to this question with an executive order in the next part of his "We Can't Wait" unilateral stimulus effort. While the president's heart may be in the right place, his effort isn't like to have much impact.
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3 comments:
Seems to me like a 0.5% reduction significantly drops one's long term borrowing cost and dropping the payment limit from 15% to 10% would lower my monthly payment by $200. Sorry buddy, but even though this doesn't help as much for folks with low student loan debt (who likely need employment more than debt help) for those who stuck it out for advanced degrees and accrued significantly high debts, this is quite helpful.
Dont you just love that Homer!
Obama is a P.O.S.
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