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Obama expands student loan relief and backs Senate bill
President Obama announced an expanded income based repayment program that could help up to 5 million borrowers lower monthly payments and directed agencies to renegotiate loan servicer contracts. He urged Congress to pass legislation to allow refinancing for graduates with high debt while coordinating with tax preparers to boost awareness of credits and options. Reacting to opposition, Obama pressed for action while acknowledging costs and the need to reduce college prices.
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Barack Obama
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America
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