The Associated Press

The Obama administration is hoping new regulations will reduce the amount of debt college students accrue and make it easier for them to repay their loans once they graduate.

A pair of rules the Department of Education finalized on Tuesday restrict the way bank cards can be used to distribute financial aid and expand eligibility for a program that ties loan payments to the borrower’s income.

The first regulation takes aim at the debit and prepaid cards more schools are using to distribute aid.

The Government Accountability Office has said the convenience the cards offer has been offset in some cases by excessive user fees.

The second rule will allow anyone meeting certain low-income requirements to have their loan payments capped at 10 percent of their annual discretionary earnings, an option previously available only to recent students.