President Barack Obama signed an executive order that lets borrowers pay no more than 10 percent of their monthly income in student loan payments. The measure, according to media reports, expands on a 2010 law that covered those who started borrowing after October 2007 and kept borrowing after 2011. The new order allows those who borrowed earlier to participate. But the result is students are saddled with burdensome debt — debt they cannot absolve themselves of through good-paying jobs or through bankruptcy. And now Obama’s policies are encouraging more students to take on more debt because they can now kick the payment down road. The policy simply creates more debt slaves. ow.ly/xSC8U
Posted on: Wed, 11 Jun 2014 14:30:13 +0000
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