president obama is ready to rollout the next arm of his we can't wait economic initiative in denver today with a plan to ease the burden on students and recent grads loaded down with debt. msnbc's tracie potts joins us from washington with more on that and the president's late aest principle of law ratings. tracy, good morning. >> reporter: lynn, good morning. we're about to reach $1 trillion in student loan debt this year. today at the university of colorado, president obama is expected to announce new rules that he calls pay as you earn. they would allow college grads to consolidate old and new loans with a half percent discount on the interest rate, essentially lowering payments and for many students preventing default. one payment instead of two, making it a lot easier for them to get that debt paid down. college still a good deal in as much as unemployment rates for