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"President Barack Obama signed an executive order Monday afternoon that eventually would enable up to an additional 5 million borrowers to cap monthly student loan repayments at 10 percent of their income and forgive any unpaid debt after 20 years."

http://www.politico.com/story/2014/06/s ... 07608.html

I thought this doesn't even go into effect until December 2015, no? Weird since most borrowers this effects are out of school and could use the help now.

wildhaggis wrote:I thought this doesn't even go into effect until December 2015, no? Weird since most borrowers this effects are out of school and could use the help now.

You're right. December 2015.

You have to understand how politics work. The President and his party get all the credit for instituting the program but don't have to pay for it I believe until 2016 fiscal budget.