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Obama tackles student loan debt relief

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ST. LOUIS, MO (KTVI) - President Obama plans to announce a new plan to offer relief for student loan borrowers Monday.  The country's student loan debt is staggering at more than one trillion dollars.  Obama is expected to expand the criteria for an alternative repayment program that will cap monthly payments for certain loans at 10 percent of the borrower's income.

The changes would allow an additional five million  borrowers to qualify.

5 comments

  • Jim

    Here’s a thought. Maybe students should take on less debt and work more. It took me 6 years to complete my degree, but I did it while working and taking on zero debt. Also, many of these kids think they are entitled to a spring break vacation to a far away land every year, probably on borrowed money.

  • Groovy Chick

    It’s better than it used to be when med and law students racked up staggering debts, then immediately declared bankruptcy upon graduation. A lot of those people’s parents probably had enough money to send them to school, too.

  • Lynne

    You can not file bankruptcy on student loans. Also I do have student loans, however I worked and went to night classes while raising a family on top of it. Not every person out there is taking the money to “get rich” or whatever else you think they are doing. Unfortunately, I have graduated and a few years back, and I am presently not working in the field I received my degree. The economy hit this area hard. So basically I am sitting with piece of paper that cost me THOUSANDS OF DOLLARS, and nothing to show for it besides my bills!

  • Steven Sweeney

    Obozo ALREADY has lowered the student loan costs-for illegals! That’s right! In ANY state in our country, illegal aliens (undocumented democrats) can pay lower tuition than legal residents of that state.Out of state tuition usually costs more, but only for LEGAL residents.In New Jersey, home of RINO Christie, they even pick up the full tab for thousands of illegals.Aren’t broken borders great?

  • Groovy Chick

    Lynne, I know that you cannot file bankruptcy on student loans NOW. The fact that so many grads were doing it in the past is the reason they put that law into effect. Yeah, showing my age.

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