[sickoflibs]

RE :”Using his pen again in “this year of action,” President Obama today signed an executive order to ease the burden of student debt at the expense of “millionaires.” The program, “Pay as You Earn,” expands an existing federal loan option available to undergrad and graduate students. It issues caps on monthly loan payments at 10 percent of the borrower’s discretionary income and forgives their remaining balance after 20 years.
For those working in public service or the government, any remaining debt is forgiven after 10 years. An estimated 5 million more borrowers will become eligible under the new plan. Before today, only those who took out loans after 2007 were entitled to “Pay as You Earn” benefits.
To finance the program, Obama proposed closing “tax loopholes” for the wealthy, or what he called “millionaires.”

OK, so he limits what they must pay back for their loans, then calls for congress to raise taxes which they wont. Does this mean less $$$ to loan out in the future?

What does the law say? (not that it matters to Dems)

[GOPJ]

A two year college degree today doesn't guarantee a student can read - or fill out a job application.

This serves three purposes - it buys votes, keeps big money flowing to the education industry, and allows kids to major in totally valueless subjects like gender studies. And yeah sick - it will limit loans...