Obama plan would expand income-based repayment of student loans

05/10/2013 | Wall Street Journal, The

A proposal in President Barack Obama's budget would expand the reach of a program that helps struggling borrowers repay federal student loans. The income-based repayment program allows certain borrowers to pay 10% of their income toward their debt, regardless of scheduled payments, and forgives the remaining debt after 20 years of on-time payments. Some lawmakers oppose the program, making the expansion's fate questionable.

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Wall Street Journal, The

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