Income-Based Repayment of Student Loans: If Only Borrowers Knew

Brian Wedge for The Chronicle

To Kerri Padgett, who finished veterinary school in 2009, income-based repayment of her student loans sounded like a good idea. Qualifying for the federal program required a months-long approval process, but the reduced monthly payments on her loans give her "more wiggle room" in her budget, she says.
July 02, 2012 Premium content for subscribers. Subscribe Today

Everyone worries about deeply indebted college graduates with poor job prospects. Yet a program that helps those very borrowers, letting them repay their loans on the basis of how much they make, gets little attention.

For a few years now, the...

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