Student Loan Debt Relief

"If it sounds too good to be true, then it probably is."  ~ adage

The Obama administration just announced a relief program for student loan debt.   “College graduates are entering one of the toughest job markets in recent memory, and we have a way to help them save money by consolidating their debt and capping their loan payments,” said Education Secretary Arne Duncan on a conference call with reporters on Tuesday. “And we can do it at no cost to the taxpayer.”

The final statement leads me to wonder who it will cost.  After all, if the goverment can magically make all debt cheaper at no cost to the anybody, why wouldn't the government apply it to all debt?

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This is not financial advice. Please consult a professional advisor.

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