President Obama To Offer Plan To Aid Students Buried In Debt

Source: Jennifer Liberto / CNN Money

WASHINGTON – President Obama is expected to announce measures aimed at helping college graduates climb out of their student loan debt hole.

One of the proposals would push up the start date for more favorable terms on a special loan repayment program based on income, sources tell CNNMoney. Another measure would encourage graduates with two or more different kinds of federal loans to consolidate them.

The initiatives were originally unveiled by Obama in his budget proposals. But he is expected to trumpet them when he appears Wednesday at the University of Colorado’s Denver campus.

The president is under pressure to address the financial concerns faced by students and recent graduates. Student loan debt, which is now outpacing credit card debt, is one of the problems called out at Occupy Wall Street demonstrations in New York.

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