News: Obama's Student Loan Reform

Obama for America recently sent out an announcement explaining the measures that President Obama has taken to provide relief for the millions of future college graduates that will likely be burdened with insurmountable student loan debt.  With the absurdly high cost of law school in this day and age, student loan reform has a very profound effect on my personal financial future. I'd suggest that those of you, soon-to-be graduates, out there take a few minutes to watch this video below.


Original Message:
Friend --
President Obama just took two serious steps to make life a lot easier for folks with student loans -- and there's a good chance you or someone you know will benefit from these changes very soon.
Here's how:
-- Effective this January, if you're someone who has different kinds of loans -- guaranteed and direct -- you'll be able to roll them both into one direct loan and bring down your interest rate. You'll only have to write one check a month, and you'll see a discount. This switch adds no cost to taxpayers across the board.
-- You might remember that, as part of last year's student loan reform, borrowers' loan payments could be no higher than 10 percent of their disposable income. This is a big deal -- but it wasn't going to help anyone enrolling before 2014. Today, the President announced that he's speeding up this program so it will affect students next year -- helping over 1 million students.
This will have huge consequences for people struggling to make their student loan payments.
Sometimes, it can be hard to see how policy changes will actually affect your day-to-day life.
Not the case with this one. These changes will make a real difference in helping millions of Americans get by month to month.

Disclaimer

The materials appearing on this website are provided for informational use only, and are in no way intended to constitute legal advice or the opinions of any institutions affiliated with the sites contributors. Transmission or receipt of any information from this website does not create an attorney-client relationship, and you should not act or rely upon any information appearing on this website without seeking the advice of an attorney. Moreover, because the law is constantly changing, the materials appearing on this website are not guaranteed to be correct, complete, or up-to-date.
Twitter Facebook Delicious Digg Stumbleupon Favorites More