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Friday, November 4, 2011

Reducing Your Student Loan Debt: Barack Obama's Plan to Help College Students

Nearly six million students who have both guaranteed and direct loans will soon be able to refinance them and get a discount under President Barack Obama's student loan debt reform plan: "Help Americans Manage Student Loan Debt". You'll only have to write one check a month and within a year it will ensure that more than 1.6 million college students won't be required to make loan repayments over 10% of their income.

President Obama's plan will make college more affordable for students. All remaining debt is forgiven after 20 years of payments for college students. Debt is forgiven after 10 years for teachers, nurses, members of the armed forces, and others in public service careers.

1.6 million borrowers

These are just some of the important repayment options designed to make student loan repayments more affordable. All of this progress builds off student loan reform President Obama signed into law in 2010. All of this progress makes sure that more students from working and middle class families can get college educations and the opportunities that come with them.

Bankers don't get to be middlemen for student loans anymore. We saved $68 billion dollars by taking them out of the equation and a lot of the money is going towards loans and grants to make college more affordable for more people.

Share this news and join the movement. President Obama needs your voice to be heard. He needs you to tell Congress that reforms like this are what we're fighting for.

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