President Obama's latest effort to improve student lending has a catchy-sounding name — the Student Aid Bill of Rights — and it’s garnering praise from consumer advocates and Congressional Democrats.
But does it actually alter the student-lending landscape? Yes and no.
The "bill of rights," and an accompanying memorandum that the president announced on Tuesday at the Georgia Institute of Technology, will make it a little easier for borrowers to stay current on their debt payments and to file complaints against the companies that manage their loans.
But the president's steps won't ease students' debt burdens or make it easier for struggling borrowers to discharge that debt. And they don't fundamentally change how the government services student loans.
Read more at The Chronicle of Higher Education: http://chronicle.com/article/What-Obama-s-Student-Aid/228391