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Obama for America

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Another victory: Student loan reform

The reforms that President Obama signed into law include historic investments to make education more affordable, and deliver on another key campaign promise. The legislation:

* Ends subsidies to special-interest private lending companies
* Doubles funding for Pell Grants to help more students afford a college education
* Will cap a graduate’s annual student loan repayments at 10 percent of his or her income
* Helps an additional 5 million Americans earn degrees and certificates over the next decade, by revitalizing programming at our nation's community colleges


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