A large portion of consumer debt in the United States comes from subsidized government student loans. Each year, graduated students find themselves struggling to pay back even the principal balance of their loans as interest begins to accrue.
I implore the Obama administration to put together comprehensive reform of the student loan system, primarily one that increases the number of individuals who receive these loans, as well as an increase of interest rates of subsidized and unsubsidized Stafford loans (including converted TEACH Grants) to encourage careful consideration of accepting a Stafford loan from the federal government, increasing self reliance and reducing the amount of national and consumer debt.