President Obama has said he will help ease student loan debt, claiming he doesn’t even need Congress to do it. It seems the Education Department has the cash to back him up. Loading. President Obama.

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Debt relief from student loan resolution, Chapter 13 Bankruptcy.. from attorney Chris Bush at DebtDoc, announcing that your bankruptcy case. plan payments are defined and when plan modifications are consequently considered allowable .. This is potentially exciting news for graduates with crushing student loan debt.

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On this occasion, it’s a move to help young Americans. Beyond the student loan directive, which he is to announce Monday, Obama also is supporting legislation sponsored by Senate Democrats to.

On 22 August 2013, President Obama announced a new plan to further reform higher. 'crushing' amounts of student debt and are pricing some students out.

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Elizabeth Warren and Bernie Sanders, both vying for the Democratic nomination for president, are proposing to wipe away some.

America’s student loan debt problem is nothing new: For years, the media has been offering up a flood of stories about people facing decades of debt repayment and crushing interest rates. president Obama’s recent budget proposal includes a new plan to tackle the problem, but some critics worry.

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So we know the student loan crisis is bad, but how do we fix it? Sen. Elizabeth Warren, D-Mass., pushed a proposal to help young adults with long-standing debt refinance. President Obama’s plan,

President Obama and Congress passed a law in 2010 to help further reduce the burden on former students by reducing the complete debt forgiveness timeline to a period of 20 years, significantly increasing graduates ability to get out from under crushing federal student loan debt, but this change wasn’t set to take place until 2014.

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We are proposing to make federal student loans more affordable by limiting a borrower’s payments to 10 percent of the income he or she has left over after covering basic expenses. These changes build on the Income-Based Repayment (IBR) plan for student loans that was implemented last summer.

The program also forgives any outstanding debt after 20 years of payments. The massive cost of U.S. college tuition has saddled millions with crushing. obama: today, I’m going to take three.