Chancellor Ukpolo Supports President Obama’s Plan to Cap Student Loan Payments

 

Southern University at New Orleans (SUNO) Chancellor Victor Ukpolo said today’s action by President Barack Obama to sign an executive order allowing at least 5 million people to cap their student loan payments at 10 percent of their income is not only good for the borrowers but for the economy as well.

“This is a great move by President Obama,” Chancellor Ukpolo said. “The 10 percent cap will allow students to increase their disposable income, which then can be channeled toward taking care of their families and other life expenditures.

“The ultimate benefactor of this move is the economy,” he added, “which will receive a jolt with the increase in the expenditures by the impacted graduates.”