Obama has ordered many changes via Executive Orders. This petition is asking for an Executive Order forgiving 100% of outstanding government guaranteed student loans. Future federally subsidized loans interest rate will be 0.75% or the current bank rate whichever is lower.
Forgiving student loan debt will have a positive effect on the economy as more consumers will have more money to spend. The 1.1 trillion will be put into the American economy instead of sending it China to pay interest on loans.
This will have a positive effect on the housing market as many people can not buy a home due to student loans.
People who own homes are more stable, and more involved in their community. Children who grow up with this type of family stability are more likely to graduate high school.