At a time where college has never been more important, it has also never been more expensive. So as part of his year of action to expand opportunity for all Americans, the President is working to make student debt more affordable and manageable to repay.
Today, he signed a memorandum directing the Secretary of Education to propose regulations that would allow nearly 5 million federal direct student loan borrowers to cap their loan payments at 10 percent of their income. The memorandum also outlines new actions to support federal student loan borrowers, especially vulnerable borrowers who may be at greater risk of defaulting on their loans.
Find out more about the President’s actions to make college affordable.
