student loan limits

[voiceover] if you’re one of the millionsof americans who have student loan debt, here’s some news you can use. nearly six millionstudents who have both guaranteed and direct loans will soon be able to re-finance themand get a discount. [vo] you’ll only have to write one checka month. and, within a year, more than 1.5 million college students won’t be requiredto make loan repayments over 10% of their income. [vo] all remaining debt is forgiven after20 years of payments. and after only ten years for teachers, nurses, members of the armedforces, and others in public service careers. [vo] this is one important repayment optionof many, designed to make student loan repayments

more affordable. this progress all buildson the student loan reform president obama signed into law in 2010, which made sure thatmore students from working and middle class families can get college educations, and theopportunities that come with them. [vo] bankers don’t get to be middlemen forstudent loans anymore. we saved $60 billion by taking them out of the equation. and alot of that money is now going toward loans and grants to make college more affordablefor more people. [vo] it’s good news we’re sharing – sopass it on! and learn more at barackobama.com.