For the more than 36 million Americans who carry federal student loan debt, totaling more than one trillion dollars, President Barack Obama’s new plan could significantly lighten the heavy burden of debt for those who qualify.
The new Obama plan to help alleviate college student loan debt might not be much help to current students, with loan consolidation not starting until 2012 and loan debt repayments being lowered to 10 percent from 15 percent in 2014.