from CBS News:
Seeking to shore up support among cash-strapped college graduates and students struggling with rising tuition costs, President Barack Obama is outlining a plan to allow millions of student loan recipients to lower their payments and consolidate their loans.
Outside of mortgages, student loans are the No. 1 source of household debt. Young voters were an important bloc in Mr. Obama's 2008 campaign, and student loan debt is a common concern among Occupy Wall Street protesters.
Mr. Obama's announcement, to take place Wednesday in Denver, comes the same day a new report is being released by the College Board. It shows average in-state tuition and fees at four-year public colleges rose $631 this fall, or 8.3 percent, compared with a year ago. Nationally, the cost of a full credit load has passed $8,000, an all-time high.
Outside of mortgages, student loans are the No. 1 source of household debt. Young voters were an important bloc in Mr. Obama's 2008 campaign, and student loan debt is a common concern among Occupy Wall Street protesters.
Mr. Obama's announcement, to take place Wednesday in Denver, comes the same day a new report is being released by the College Board. It shows average in-state tuition and fees at four-year public colleges rose $631 this fall, or 8.3 percent, compared with a year ago. Nationally, the cost of a full credit load has passed $8,000, an all-time high.
Read more here.
I'm not going to go into all of my thoughts about this tonight. However, as someone who will be affected by this, I am paying very close attention to how this is all going down.
Okay Barry. Make it work.
peace.
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