Obama Grants New ‘Rights’ for College Borrowers

Citing mounting debt as a problem for students pursuing a college degree, President Barack Obama signed an executive memorandum Tuesday calling for a “Student Aid Bill of Rights.”

The action establishes a complaint system for student borrowers with the Department of Education to be set up by July 2016; takes steps to help students pay back their loans and analyzes student debt trends to suggest legislative and regulatory changes. The Obama administration will also release state-by-state data showing how many borrowers stand to benefit from the changes.

Obama said he...