Obama is moving on multiple fronts to expand student loans, lower interest rates, and make it easier to repay if students enter public service. The federal governments direct student loan program is a prime vehicle. Resistance from banks and other for profit vendors is strong, and their focus is on Congress.
An untold story is that one of the chief architects of loan reform is Bob Shireman who worked on the issue in the Clinton Administration. Shireman was appointed to a Deputy Undersecretary for Outreach and External Affairs because this would not require Congressional approval of his nomination. The student loan industry would resist his nomination in the Senate, but now cannot stop him from moving on his aggressive agenda.