He proposed instituting a cap on student loan payments for people carrying massive debt. Payments will be limited to 10 percent of income. Obama also said the program will forgive remaining debt after 10 years of payment for public-service workers and 20 years for everyone else.
Another huge giveaway to the fatcat public employee unions at the expense of future generations. So you take out a $70,000 loan for a four-year liberal arts degree, then get some government job paying $40,000 a year. You pay only $4,000 a year, which barely even covers the interest, and then after 10 years the debt is just piled onto the national debt with the other trillions.
Nice work if you can get it.