Student loan payback gets White House attention

Washington (CNNMoney) - The deadline for Congress to extend the low 3.2% interest rate on student loans is fast approaching. But the Obama administration, eager to make college debt a re-election issue, is looking for a way to lessen the burden on graduates.

Last week, the White House rolled out a plan to make it easier for graduates to enroll in a special program that caps loan repayment, based on income.