Obama seeks to cap payments of 2 million more student borrowers

President Obama wants to add two million more student borrowers to programs that cap loan payments as a share of income, the White House announced Wednesday.

In the latest effort by the administration aimed at rising student debt balances and soaring delinquencies, the Department of Education also will launch a new website, StudentLoans.gov/Repay, to help steer borrowers into the advantageous repayment plans, cutting through the complexity of loan repayment options.