TBA Law Blog

Posted by: Stacey Shrader Joslin on Jun 10, 2014

President Barack Obama has signed an executive order expanding a 2010 law that capped certain student-loan repayments at 10 percent of the borrower’s monthly income. Obama announced the action on Monday, citing his own experience with law school loans paid off just 10 years ago. Currently, the 10 percent cap is not available to those with older loans. The executive order will expand the program to nearly five million additional federal direct student loan borrowers. The ABA Journal links to several stories on the move.