Wow - no interest in the biggest government program to help college grads since the GI Bill?
No, not really. The way the program is currently structured, the amount of debt discharged is considered taxable income, increasing the tax liability of those involved with the program. Additionally, in order to avoid having the income of a spouse taken into consideration under the income-based repayment program, married couples must file income tax returns as married filling separately, most likely increasing the tax burden for the couple. Finally, loans made under the FLEEP program, rather than the Direct program, may not be considered under this program: not all schools participate in the Direct lending program, so a loan consolidation is likely necessary for many students.
As it stands now, this is a welcome change, but a deeply flawed solution, best thought of as a work in progress.
edited to correct a typo - if I don't press really hard on my "A" key it won't work.