How Obama Can Bypass Congress to Create New Student Loan Forgiveness Program

Posted on October 26, 2011

Bypassing Congress, the President, assisted by provisions in current Health Care Law (March, 2010) and precedent dating back to 1974 in the area of budget exercised executive privileges and powers to create a program of Forgiveness for student College loans.

Provisions of the Program may be found here.

  President to Ease Student Loan Burden for Low-Income Graduates     [NY Times]                                                 

Here are articles that outline the legal underpinnings for his actions.

  • Student Loan Overhaul Approved by Congress. [NY Times]

Obama can get to the finish line on the above before anyone knows the has had another thought  because of his expanded staff of attorneys and of course czars.

This fall Obama will be a big man on campus but he will be begrudged praise and support from collection agencies and banks who will suffer.