What to know: Obama's student loan program

POSTED: 8:53 AM PDT June 10, 2014 

President Obama has expanded a federal program aimed at reducing student loan debt. But what does it mean for you?

Obama student loan program
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Larry Downing/Reuters

On Monday, President Barack Obama took executive action that will allow millions more people to cap their student loan payments at 10 percent of their annual incomes -- an option that most, but not all, student borrowers have had since 2010.

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