Many young Americans under massive student loan debt have looked to the President for relief. For the first time in modern history the amount of debt incurred by students now exceeds credit card debt. The president is asking congress to reduce the interest rates on the eight hundred thirty million dollars that banks hold in student loan debt. The question is whether or not congress will act. Student loan borrowers who have built up these huge debts while acquiring an education need immediate help. The specter of a defaulted student loan hangs over them like a dark cloud. Without help from congress, a significant number of these borrowers will never become homeowners,job creators, or consumers.There is no doubt President Obama’s latest attempt to help students is needed. However, it is just a drop in the bucket to what is really needed to assist students. What is really needed is a comprehensive plan that involves students , parents , educators and the federal government.
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