Pay As You Earn: Obama's Plan to Ease Student Loan Pain
We Feel Your Pain
On June 9, President Obama used his executive authority to ease the economic burden for student-loan borrowers, millions of whom are struggling with repayment. He also backed a bill introduced by Massachusetts Sen. Elizabeth Warren that would enable borrowers to refinance their loans. "I'm only here because this country gave me a chance through education," Obama said. "We are here today because we believe that in America, no hard-working young person should be priced out of a higher education."