Friend --

President Obama just took two serious steps to make life a lot easier for folks with student loans -- and there's a good chance you or someone you know will benefit from these changes very soon.

Here's how:

-- Effective this January, if you're someone who has different kinds of loans -- guaranteed and direct -- you'll be able to roll them both into one direct loan and bring down your interest rate. You'll only have to write one check a month, and you'll see a discount. This switch adds no cost to taxpayers across the board.

-- You might remember that, as part of last year's student loan reform, borrowers' loan payments could be no higher than 10 percent of their disposable income. This is a big deal -- but it wasn't going to help anyone enrolling before 2014. Today, the President announced that he's speeding up this program so it will affect students next year -- helping over 1 million students. This will have huge consequences for people struggling to make their student loan payments.

Sometimes, it can be hard to see how policy changes will actually affect your day-to-day life.

Not the case with this one. These changes will make a real difference in helping millions of Americans get by month to month.

We put together a video explaining how these changes will help Americans


No links posted, Taken from Obama for America email


Looks to me like an attempt to make another end run around Congress by executive order to gain the younger vote. Reducing payments to 10% of disposable income would have the effect of being a total loan forgiveness program. Consider the person who has $ 20 a week non-essential disposable income. this would translate to $8 per month repayment . on who knows how many thousands of $ they " borrowed" with full disclosure. I am not against student loans per se , but seems like an attempt to play to the Wall St protesters and turn the student loan program into a total welfare free for all.