Obama to Seek Limits on Student Loan Repayments

President Obama will use his State of the Union address to propose limits on the total amount of federal student loan repayments that a recent college graduate could be required to make, The New York Times reported. The address on Wednesday will feature a series of proposals -- smaller in scale than the reform of health care being debated in Congress -- designed to help families. The loan proposal would cap repayments for recent college graduates at 10 percent of income above a basic living allowance, the Times said.