New Program Can Help Manage or Eliminate Student Debt by Direct student loan interest

Sat, 04 Jul 2009 03:03:26 +0300

New Program Can Help Manage or Eliminate Student Debt

by Direct student loan interest @ Sat, 04 Jul 2009 03:03:26 +0300
The Department of Education, starting this week will allow anyone with a federal student to apply for a program which will cap monthly payments based on income, and forgive remaining balances after 25 years. Loans can even be forgiven after 10 years for those in the public service. Eligibility for the income-based repayment (IBR) is determined by the size of the loan, and income of the borrower. The plan will become available Wednesday for those that are interested. This new IBR