White House to Expand Student Loan Protections - KTVN Channel 2 - Reno Tahoe News Weather, Video -

White House to Expand Student Loan Protections

Posted: Updated:
Courtesy: University of Nevada Courtesy: University of Nevada
President Barack Obama is signing an executive order that lets borrowers pay no more than 10 percent of their monthly income in student loan payments.

The measure expands on a 2010 law that covered those who started borrowing after October 2007 and kept borrowing after October 2011. The executive order allows those who borrowed earlier to participate, potentially extending the benefit to millions more borrowers.

Obama will sign the order Monday during an event in the White House Rose Garden. The president will also use the appearance to call for Congress to pass more sweeping legislation that would let college graduates with heavy debts refinance their loans.

The Senate is expected to debate the legislation next week, but it faces significant obstacles.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
  • Today's Top StoriesMore>>

  • Fatal Rollover on Highway 50

    Fatal Rollover on Highway 50

    Monday, September 1 2014 2:45 PM EDT2014-09-01 18:45:19 GMT
    82-year-old Dayton woman is dead after a vehicle rolled over on US 50 in Carson City.More >>
    82-year-old Dayton woman is dead after a vehicle rolled over on US 50 in Carson City.More >>
  • Reno Police Shoot Robbery Suspect

    Reno Police Shoot Robbery Suspect

    Monday, September 1 2014 2:58 AM EDT2014-09-01 06:58:19 GMT
    Multiple agencies are investigating after an armed robbery suspect was shot and killed by police in front of a Reno casino Sunday evening. More >>
    Multiple agencies are investigating after an armed robbery suspect was shot and killed by police in front of a Reno casino Sunday evening. More >>
  • Aces Win to Force Winner Take All Game on Labor Day

    Aces Win to Force Winner Take All Game on Labor Day

    Monday, September 1 2014 2:09 AM EDT2014-09-01 06:09:23 GMT
    The Reno Aces used a pair of home runs and a dominant relief performance by Bo Schultz to grab a decisive 7-3 win over the Sacramento River Cats Sunday night at Raley Field.More >>
    The Reno Aces used a pair of home runs and a dominant relief performance by Bo Schultz to grab a decisive 7-3 win over the Sacramento River Cats Sunday night at Raley Field.
    More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.