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October 27, 2011

Obama Outlines Student Loan Plan 
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President Obama unveiled his plan Wednesday to make college loans more
affordable and easier to repay for millions of former students. A key
part of the plan will allow college graduates to cap their federal
student loan repayments at 10 percent of their discretionary income
starting in January, two years before the cap was due to take effect
under federal law. Obama outlined the plan during a speech at the
University of Colorado in Denver.

President Barack Obama: “And when a big chunk of every paycheck goes
towards student loans instead of being spent on other things, that’s
not just tough for middle-class families, it’s painful for the
economy, and it’s harmful to our recovery because that money is not
going to help businesses grow.”



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