It is good to see the government step in and nationalize another industry they screwed up with regulations, corporate welfare, and general incompetence. Yup, sounds like something I should be on board with. From what I read this appears nothing more than student welfare.

Students who have low incomes or meet certain other eligibility requirements and who take out loans after July 1, 2014, will see their payments limited to 10 percent of their discretionary income after graduation. Current law caps payments at 15 percent of income. For students who make their loan payments on time, the government will forgive the balance after 20 years, instead of 25. Public service workers â?? teachers, nurses, police officers and those in the military â?? will see any remaining debt forgiven after just 10 years of repayment.

Yeah, thats how you make something profitable. College is an investment! Everyone is not entitled to an education, much less at the tax payers expense! Than on top of that, failures are not even required to pay all the money back? That isn't a loan, it's fucking welfare. Anyone who thinks the tax payer is going to come out ahead has not paid attention to past government actions. Social Security, which the government claimed was being "saved" for citizens, is now solvent despite having had more people pay into it than ever collected!