Addressing Student Loan Debt: Knowledge is Power
(Undated) -- According to the White House, the average tuition at a public four-year college has more than tripled in recent decades. On Monday, President Obama announced new executive actions that will allow an additional 5 million borrowers with federal student loans to cap their monthly payments at just 10 percent of their income. Lynne Baker with the Illinois Student Assistance Commission says steps are needed to help those in Fulton County and around the state afford a higher education. Among the measures announced, the president also is directing the government to renegotiate its contracts with federal loan servicers to strengthen financial incentives to help borrowers avoid defaulting on their loans.