Big news! President Obama announced an Executive Order this afternoon that would extend the protections of Income-Based Repayment to an estimated five million more student borrowers.
At a time when one in seven student loans default within the first three years of a student leaving school, and when graduates are taking on larger and larger amounts of debt, it makes sense to use everything in the toolbox to make sure that students aren’t financially ruined before they have a chance to get a start on life. But bigger structural changes are needed to end the radical shift to a debt-for-diploma system.
