President Obama Announces New Student Loan Consolidation Plan

As the election cycle moves on, President Obama grapples with many issues that present a challenge to his re-election. After the defeat of the president’s jobs bill, the move to shore up a big part of the disaffected Democratic base had to continue. Today, it was revealed that new regulations are in the works to change student loan guidelines in favor of those who rely on them to pay for school. This is a major proposed adjustment.

Also a key point in the proposed plan is the income based repayment plan adjustment. It would go from 15 percent of your income to ten percent. With so many people graduating college, and returning for more education, this would provide for some needed financial relief right away.

Occupy Wall Street captures the attention of the nation in no small part due to the juxtaposition of so many educated people in a predicament with tens of  thousands of dollars debt, and no jobs to begin paying it off. While it will never be said openly, this move in some small part is motivated by so much attention on this issue. In addition, this is a reach out for the youth vote.  A key part of the Democratic base that will be instrumental in the 2012 race despite the political party.

What are your thoughts?

-Marc W. Polite



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