Oracle SQL 'comment on ...'

I just discovered Oracle SQL's handling of inline documentation.  Is
there an equivalent feature in PostgreSQL?

Here are the oracle notation:

comment on table student_status_info is
        'Information on the students current status at RPI.  In part used to put some aspects of check-in online.  This
isdata taken from the SRS.K0 table. Other K0 fields go into simon.students.'; 

comment on column student_status_info.person_id is
        'The simon people.id of this person.  Used to join with other tables.';

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##>  Petter Reinholdtsen <##    | pere@td.org.uit.no
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