October 26, 2021

Obama signs Executive Order on Financial Aid Student repayments

Obama_signingIn an attempt to ease crushing student debt, President Obama will sign an executive order Monday afternoon that will allow at least 5 million people to cap their student loan payments at 10 percent of their income.

Obama will direct Secretary of Education Arne Duncan to amend student loan regulations to allow for the payment ceiling, which the administration wants to make available to borrowers by December 2015.

 

Link to Articles:

http://chronicle.com/article/As-Congress-Bickers-Obama/146977/?cid=at&utm_source=at&utm_medium=en

http://www.washingtonpost.com/blogs/post-politics/wp/2014/06/09/obama-to-sign-executive-order-capping-student-loan-payments/