Poll: Do You Agree with Obama's Student Loan Plan?

President Obama on Wednesday announced plans to overhaul how some college graduates pay for their educational loans, with the goal of lowering monthly payments for new graduates.

Among the highlights of the plan are:

• Lowering the maximum payment to 10 percent of one's discretionary income, rather than the current 15 percent
• Providing loan forgiveness after 20 years, rather than the current 25
• Consolidating Federal Family Education Loan Program and direct federal loans under a lower interest rate 
• Starting the standards next year rather than in 2014, as originally planned

The new rules wouldn't apply to everyone with an outstanding student loan, however. Recent graduates and current students stand to gain the most.  

(Read more about the plan on Huffington Post.)

Obama announced his plan as a report showed college tuition costs on the rise. Public universities' tuition and fees increased an average of 8.3 percent nationwide over last year.  

What do you think? Does the president's plan go too far? Not far enough? 

Vote in our poll and share your thoughts in the comments.