WASHINGTON — President Obama is devoting much of his week to the rising costs of student loans, starting Monday with a package of proposals designed to make re-payments easier.
Flanked by students gathered at the White House, Obama authorized expansion of a program that lets borrowers cap monthly loan re-payments at 10% of income.
The president also criticized congressional Republicans for what he described as backing tax breaks for the wealthy while opposing plans to reduce interest rates on college loans.
"If you're a big oil company, they'll go to bat for you," Obama said. "If you're a student, good luck."