Obama’s student loan program is a “drop in the bucket”

On Monday, President Obama announced a new program to pay back student loans. Unfortunately, few stand to benefit from it. CNN Money,

“We’re probably not going to have many new borrowers saying: I’m going to qualify for this,” said Mark Kantrowitz, publisher of Edvisors Network, an educational resource for students…

“Also, the programs target a narrow base. They are designed to only help the poorest borrowers living on the edge. “No more than 10% of student loan borrowers qualify for the programs,” Kantrowitz said.”