President Obama Executive Order Caps Student Loan Debt at 10%


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While an improvement over current student loan borrowing guidelines, President Obama’s executive order today does not go far enough to protect students; especially first generation college students from legacy poverty. Student loan interest is calculated on student loan debt principal which extends the payment and the interest on payments. You may pay less initially but are in debt longer. Any way you slice it, neoliberal austerity bites you in either large chunks or piranha slices until you don’t feel anything at all but your relation to new forms of servitude. We must do better.


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