Page 3 - Esta Pittard News Today : Breaking News, Live Updates & Top Stories | Vimarsana

good morning, it s wednesday, october 26th. i m carol costello joining you live from new york. president obama begins his day in denver where he ll spell out his plan to make it easier for student loan borrowers to pay off their enormous debt. he ll explain his plan at the university of colorado-denver campus. the two key points of his proposal, he wants to offer relief sooner by pushing up the start date for an income-based repayment plan passed by congress. it s set to take effect in 2014, but the president wants it to begin in january. the plan reduces to 10% the maximum percentage of income that more than 1 million current students would have to pay toward their loans. they ll also be eligible for loan forgiveness in 20 years instead of 25. the other proposal would offer a small interest rate break for borrowers who consolidate their different types of federal loans. usa today reports the outstanding student loan debt is expected to hit the $1 trillion mark this ....

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