Sorry to pick on the Art Majors, but all of this discussion about President Obama's Executive Order on student loans has pointed the country down an interesting path. Perform this thought experiment with me... The vast majority of student loans in the United States are federally backed. There are also $1,000,000,000,000 in student loans outstanding. This means that, in the event student loans aren't paid, the debt will be borne by the general fund of the United States (read: taxpayers paying private and public colleges). Should taxpayers demand lower paying majors pay higher student loan rates?