TODAY   |  August 22, 2013

Obama embarks on bus tour for student loan proposal

President Obama will hit the road today to push a new college ranking system that could radically change how federal aid is distributed. This proposal would hold students and schools responsible for progress toward a degree, and would impose a cap on loan payments at 10 percent of monthly income.

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>> today on a two-day bus tour to push a radical change in the way college is paid for. the president calls for a new ranking system that he hopes will ultimately tie federal aid to college performance. proposals include holding students at schools responsible for progress towards a degree and capping loan payments at 10% of monthly income.