Obama aims to expand student loan relief

June 9, 2014 

President Barack Obama is signing an executive order that lets borrowers pay no more than 10 percent of their monthly income in student loan payments.

The measure expands on a 2010 law that covered those who started borrowing after October 2007 and kept borrowing after October 2011. The executive order allows those who borrowed earlier to participate, potentially extending the benefit to millions more borrowers.

Obama will sign the order Monday during an event in the White House Rose Garden. The president will also use the appearance to call for Congress to pass more sweeping legislation that would let college graduates with heavy debts refinance their loans.

The Senate is expected to debate the legislation next week, but it faces significant obstacles.

Bellingham Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service