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President Obama signs order to expand cap on federal student loan payments

President Barack Obama signed a presidential memorandum today

President Barack Obama signed a presidential memorandum today that aims to help former college students and graduates who are struggling to repay their tuition debt. (June 9, 2014 6:24 PM)

President Barack Obama signed a presidential memorandum today that aims to help former college students and graduates who are struggling to repay their tuition debt.

The measure will cap federal student loan payments at 10 percent of a borrower's monthly income. The cap was already in place for people who took out loans since the fall of 2007, but the memorandum extends the 10 percent limit...

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