Student Loan Plan

Obama's master plan will save average grad less than $10 a month.

Another example of pointless, impotent, government meddling to score political points. This is basically the M.O. of the Obama Administrations domestic agenda. If they really wanted to do something about the long term problem, they would have a beer summit of college presidents and force them to lower tuition by 10% next year (not that the government could actually do such a thing). Or the government could just simply get out of the business of student loans tomorrow and force the college to cope. This is actually probably one of the better long-term options.

As for the existing loans - it's just like the mortgage crisis. What the fuck can be done? People bought these houses and took these loans - most of them will have to pay it back or some large percentage of it. Or declare bankruptcy.

But back to the article, the statistics are astounding - student loans increased 511% over the past decade. The rate of loans vs. disposable income is ridiculous. The parents have lost the value in the house and the kids are hamstrung with debt. Bad times.