Will Obama Executive Order Student Loan Forgiveness?

There is growing sentiment that the Student Loan Crisis in America has grown beyond all imagination and is indeed an acute emergency for the Obama Administration and the entirety of the U.S. Government.

Could Student Loan Forgiveness be just a penstroke away?

As it stands, student loan debt has whipped passed the $1 Trillion mark, surpassing and eclipsing the total credit card debt in the process.

According to Seth Mason (referencing an Institute for Higher Learning report), nearly half (41%) of student loan holders have been behind on their payments over the last 5 years, and, last year, a full 12% of borrowers were in outright default on their student loans.

At the current rate of growth, the student loan default rate will eclipse the historic maximum default rate for home loans, 14%, by mid-2015.

President Obama may be in a position to prevent that from happening (and potentially holding off another economic collapse). The solution may be in forgiving all student loan debt by executive order.

President Obama has been a proponent for Student Loan Reform even before winning the presidency in 2008. And in his most recent State of the Union speech, Obama revealed that he would not be afraid of issuing an Executive Order in order to push his agenda.

Could he help the economy, as well as, thousands of individuals and families defrauded by the student loan industry with a stroke of his pen? Tell us what you think in the comments below!