President Obama Announces Student Aid Bill of Rights

US President Barack Obama announced on March 10 a Student Aid Bill of Rights that is meant to make it easier for students to repay debt. Obama signed a Presidential Memorandum earlier in the day that approved a package of policy tweaks aimed to simplify managing and repaying debt from college education.

“Earlier today, I took a new action to make it easier for students to pay for college and pay off their loans,” said Obama, addressing students at Georgia Tech in Atlanta. “We’re going to require that the businesses that service your loans provide clear information about how much you owe, what your options are for repaying it, and if you’re falling behind, help you get back in good standing with reasonable fees on a reasonable timeline.” Credit: YouTube/The White House