Americans who are under the financial strain of repaying student loan debt are now off the hook for their education costs. President Obama signed a new federal bill this week releasing any student who has accrued outstanding debt because of the high interest rates and outrageous balances caused by college loans.
“Any student, past or present, who has taken loans from the federal government within the last 10 years to pay for higher education, will no longer be required to pay back those loans.” Said President Obama. “This forgiveness also is to be extended to any student currently enrolled in college, who may need financial assistance for the next several years as they finish their degrees.”
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