Regulate Sallie Mae Private Loans to help student who cannot afford to pay the high monthly costs or interests payments.

I believe that President Obama should take a look into the high interest rates. Most students with Sallie Mae Private loans are at the will of the company with no government regulation on interest rates or payments going to the principle balance of the loan not just the interest. Private loans have no bi-laws that students can use to get income based payments which will allow low interest and also go towards the principle balance without accruing interest which will raise the balance even higher. Student loans can go into default affecting credit and a future that students trying to get a higher education are trying to protect. Getting a higher education should not be something that student regret because the higher education is hindering them in the long run.