New Student Loan Forgiveness..release that breath you've been holding

I hate to be the bearer of bad news, but everyone release that breath you've been holding...I don't think it's quite as good as it sounds...

I admit, I've been reading articles for a bit, trying to figure out exactly what this new plan means for students and recently graduated students, and I'm still a bit hazy...but at least this article seemed to help a bit...

Some main points that are a little disappointing...
- You don't meet the requirements if you took out your loan before 2008
- You don't meet the requirements if you don't take out a loan next year
- You will not apply if your loans are in default

It's also only government loans and there's something about how this is already a policy...again, I haven't had the time to totally try to digest everything and figure out what it actually means so I'm saving opinion for later...

and theres a lot more stuff that i don't understand quite yet...read on it before you celebrate too much
http://www.washingtonpost.com/business/economy/obamas-student-loan-plan-isnt-so-new/2011/10/26/gIQA9a4RJM_story.html

and here's a general press release:
http://online.wsj.com/article/SB10001424052970204644504576653043088346786.html