In a move completely against the principles of economic incentives, President Obama used that famous pen to sign an executive order which would cap student loan payment to 10% of a student's monthly income.
Really?
As a hardworking recent graduate who (along with my parents) has made a lot of sacrifices to pay off my student loans the old-fashioned way, I am honestly too exasperated to elaborate. So take it away, Peter Schiff.
This is going to be the student loan bubble's equivalent of the Community Reinvestment Act.
#Perverseincentives
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