Understanding Obama’s Student Loan Debt Plan: Will It Help You?
Say what you will about President Obama but, at least in this case, he recognizes a true crisis when he sees one. Student loan debt is at its highest level ever and the delinquency rate is higher than that of credit cards. So when people call the student loan debt problem a “crisis” they’re not exaggerating. By nearly any measure college graduates are facing one of the toughest employment cycles ever and have more indebtedness to combat due to the rising cost of college.
As part of his “We Can’t Wait” unilateral stimulus effort President Obama has issued an executive order that aims to help debtors and in turn stimulate the economy. Obama’s intentions are good but is his new plan enough? BE Next examines it’s nuances.