Millions of students will have an easier time paying back their student loans thanks to reforms President Obama announced yesterday, including a “Pay As You Earn” proposal and the option to reduce monthly payments.
The changes will help folks like John, a law student in Vermont. He is pursuing a degree in environmental law, and hopes to work at a nonprofit once he finishes grad school.
After he graduated from college two years ago, John says he struggled to find work:
“I had a really hard time finding a decent job—so I had to go a full year between college and law school without a job. I lived at home with my parents to make ends meet.”
But he thinks the new reforms will help:
“I have been keeping my eye on loan repayment options. It sounds like the President’s plans will be helpful for me when I graduate—and hopefully the job market will continue to improve.”
Learn more about how President Obama’s plan will make higher education more affordable for students across the country, and make sure to pass the news on to your friends with student loans.