The new "Pay As You Earn" proposal will allow about 1.6 million students the ability to cap their loan payments at 10 percent starting next year, and the plan will forgive the balance of their debt after 20 years of payments. Additionally, starting this January an estimated 6 million students and recent college graduates will be able to consolidate their loans and reduce their interest rates...

This is a step in the right direction. Next let's see them eliminate the ridiculous bankruptcy immunity of student loan debt, and then ease the government back out of the market, and we'll get education priced reasonably one day again.

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