Because we need to subsidize law school graduates....

.....President Obama has issued an executive order capping student loan payments at 10% of income, because it's not like the nation has any interest in giving the burnouts protesting Wall Street an incentive to actually find a decent paying job and start paying off their debts.  Instead, we need more people with little or no incentive to contribute materially to our society, because it's not like we have a $1.3 trillion deficit and over fourteen trillion dollars in "on the books" debt and close to one hundred trillion dollars in debt when calculated according to honest (GAAP) accounting methods.

Except, of course, that this is exactly what's happening, and just like Obama's proposed giveaways to underwater homeowners, it creates a nasty perverse incentive to do the wrong thing financially.  Get that quarter million dollar degree from the Ivy League school and then start working for $25,000/year doing performance art or social work.  It's not like the world needs creative engineers,scientists, doctors, and businessmen, after all.  As any old time barber would tell you, society needs more leeches.