Yesterday President Obama signed a presidential memorandum that, when implemented, expands access to a repayment cap of 10 percent of income to an additional 5 million federal borrowers.
The action takes a law passed in 2010 applying to new loans and applies it to loan holders who borrowed before October 2007.
College affordability and the ability to go and then pay off your debt are of great concern across the country as the average college graduate, from 2012, owed $29,000 and the costs keep rising.
What can we do to make college more affordable?
- Richard Vedder, director of the Center for College Affordability & Productivity
- Karen Gross, president of Southern Vermont College, former senior policy advisor at the U.S. Department of Education
*This is the second segment in the June 10 edition of The Source, which airs at 3 p.m. on KSTX 89.1 FM.