President helps students ease debt -, GA News Weather & Sports

President helps students ease debt

President Obama is expected to sign an executive order Monday that could ease the burden of student loans for millions with debt.

During an event at the White House Rose Garden, President Obama is expected to sign a measure expanding on a 2010 law that helps students who are paying back their student loans.

Borrowers would have to pay no more than 10 percent of their monthly income toward student loan payments. The measure would expand on a law created in 2010 that covers those who started borrowing after October 2010 and kept borrowing after October 2011.

Don't feel left out if you don't fit in that time period. The order also allows those who borrowed earlier to join in which has the potential to help millions more.

The President is also slated to call on Congress at the event, in hopes that they'll pass broad legislation allowing students with heavy debt to refinance their loans.  

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