President Obama signs an executive order that will help students that are faced with a mountain of student loan debt. Most students leave college with an average of $24,000. This amount has surpassed the amount of even credit card debt. Most students with this kind of debt never have a chance to have a clean slate when finishing school because they are already in the whole and oweing before they even get there first job. The jobs that are available for them are not enough to pay off their student loan debt and that is the Presidents concern. The bill will allow the amount to be based on the students current income as to what they will have to pay. This will help a lot of students who have been forced to wait tables and take lower paying jobs even though they have bachelor and master degrees. The poor economy is effecting every angle of the american dream and there seems to be no bandage to cover this forever bleeding wound of insurmountable debt that we are in.
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Alena R. contributing writer for 25 and older and also writes for