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Obama To Issue Executive Action Easing Student Loan Debt Pressures

Monday, President Obama is expected to issue an executive action making it easier for young people to avoid trouble repaying student loans, said a White House official. The order will direct the secretary of education to ensure more students will be allowed to cap their loan payments at 10 percent of their monthly income, although federal law currently allows this for most students already. The new order will extend this ability for students who borrowed before October 2007 or those who haven't borrowed since October 2011. The action is expected to help nearly 5 million struggling in debt students, but won't be available until 2015.

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