President Obama is back from last week’s overseas trip. Today he will sign a Presidential Memorandum on reducing the burden of student loan debt. The executive order will cap repayments for borrowers at 10 percent of their monthly income.

“This is commencement season, a time for graduates and their families to celebrate one of the greatest achievements of a young person’s life.” Obama said in his weekly address on Saturday. “But for many graduates, it also means feeling trapped by a whole lot of student loan debt.”