(From Breitbart.com):

Student Loans Payments Keyed to 10% of Income

By Warner Todd Huston

President Obama is unveiling a presidential memorandum that will allow students with loans taken out before 2007 to apply for a cut in loan payments by having them limited to ten percent of their annual income, a plan not unlike a ten percent religious tithe.

The President had already put the loan limit in place for current school loans, but with his Monday June 6 signing he grandfathered in all previous loans, as well. READ MORE HERE