The amount of debt that Americans have incurred as a result of continuing education past high school is approaching levels which may adversely affect the economy as a whole.
The legislation signed into law by the President limits student loan payments to 10% of a former student's income starting in 2014, but this new legislation does not help former students who are underemployed and now financially crippled by student loan debt and payments.
This legislation also gives unfair preferential treatment to those who work in the public sector. It applies a 10-year payment limit to those who go into public service, while applying a 20-year limit to the private sector.
We ask the President to introduce more comprehensive student debt reform that will help all struggling former students now.