Monday, May 22, 2017

How Trump Wants to Change the Student Loan Program Payments

Students currently can have the balance of their loan forgiven after paying 10 percent of their income for 20 years. Trump's proposal would raise the maximum payment to 12.5 percent of income, but shorten the payment period to 15 years, reports the Washington Post.



Via The Wall Street Journal:

The new income-driven repayment plan would only apply to student loans extended on or after July 1, 2018. This suggests existing borrowers would continue to pay under their current plans.

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