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President Obama to propose relief for student borrowers

WASHINGTON (AP) - President Barack Obama is detailing a college loan plan that could help him shore up support among cash-strapped students and graduates.

President Barack Obama delivers remarks on the economy in the Roosevelt Room of the White House in Washington, Friday, July 23, 2010.(AP Photo/Pablo Martinez Monsivais)

WASHINGTON (AP) - President Barack Obama is detailing a college loan plan that could help him shore up support among cash-strapped students and graduates.

The plan he was to announce Wednesday in Denver would allow millions of student loan recipients to lower their payments and consolidate their loans.

Young voters were an important bloc in Obama's 2008 campaign, and Occupy Wall Street protesters have expressed concern about burdensome student loan debt.

Outside of mortgages, student loans are the No. 1 source of household debt.


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