It may take years for the millions buried in student loan debt to pay their way out. Roughly 36 million Americans currently hold debt they accrued earning higher education. Last week President Obama unveiled a plan he says would ease the financial pain of some of those borrowers. The president’s plan to allow borrowers to pay back less money based on their annual income will affect about 1.6 million students when it goes into effect next year. But is that enough to both stimulate the economy and ease the fiscal burden of the indebted? U.S. Secretary of Education Arne Duncan tells us more.
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