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Latino Daily News

Wednesday October 26, 2011

Obama Promotes Student Loan Forgiveness – Hurray Say Latino Students

Obama Promotes Student Loan Forgiveness – Hurray Say Latino Students

Photo: Student Loan Forgiveness

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As President Obama said, “in the United States of America, no one should go broke because they chose to go to college.”

That’s why the Administration is moving forward with ways to help reduce the burden of student debt and decrease monthly loan payments for more than one and a half million current college students and borrowers.

Today, the President announced a series of additional steps that the Administration will take to make college more affordable to the relief and delight of the thousands of Latino students with crushing student loan payments.

Some of the plans highlights are:

• Borrowers to cap loan payments at 10% of discretionary income.  To determine if this is a good option for you click here.
• New website launched listing alternative payment programs and deferments.
• Offer limited-time debt consolidation option and then discount those consolidated loans.
• “Know Before You Owe” new financial aid disclosure form for new college students.