Barack Obama ,To Compete Narendra Modi,Signs For Affordable Student Loan Payments In The Field Of Education+ Economy Reforms It Seems That American Barack Obama And Indian Narenndra Modi Are Running Neck To Neck .In India President Read New Economy Path Of Modi Govt.Whereas In U S A Barack Obama directed the Secretary of Education to propose regulations to allow the opportunity to cap student loan payments
On June 9, 2014, President signed a new Presidential Memorandum directing the Secretary of Education to propose regulations that would allow an additional nearly 5 million federal direct student loan borrowers the opportunity to cap their student loan payments at 10 percent of their income. The memorandum also outlines a series of new executive actions aimed to support federal student loan borrowers, especially vulnerable borrowers who may be at greater risk of defaulting on their loans
Today, 71 % of students earning a bachelor’s degree graduate with debt, which averages $29,400. While most students are able to repay their loans, many feel burdened by debt, especially as they seek to start a family, buy a home, launch a business, or save for retirement.
The President and his administration have a long track record of taking steps to make college more affordable and accessible for families. And as part of his year of action to expand opportunity for all Americans, the President is committed to building on these efforts by using his pen and his phone to make student debt more affordable and manageable to repay.
This is not The First Time In 2009 Obama Has Said “We will provide the support necessary … to complete college and meet a new goal: by 2020, America will once again have the highest proportion of college graduates in the world.”