Democracy Now: New Plan Allows College Grads to Cap Student Loan Repayments

The Obama administration outlined a new effort Tuesday to help college graduates struggling to pay off student loans. A key part of the plan will allow college graduates to cap their federal student loan repayments at 10 percent of their discretionary income starting in January, two years before the cap was due to take effect under federal law. Outstanding student loans in the United States are projected to reach a record one trillion dollars this year, a larger sum than credit card debt.

~ by wheresthemic on October 26, 2011.

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