Eligible borrowers of federal student loans will able to enroll in President Obama’s “Pay as You Earn” program starting on December 21, the Department of Education is expected to officially announce on Friday.
The new income-based repayment plan caps monthly loan payments at 10 percent of a borrower’s discretionary income. After 20 years of payments, the government will forgive the loans. Now the Education Department’s income-based repayment program caps monthly loan payments at 15 percent of discretionary income, with loan forgiveness after 25 years.
We're sorry. Something went wrong.
We are unable to fully display the content of this page.
The most likely cause of this is a content blocker on your computer or network.
Please allow access to our site, and then refresh this page. You may then be asked to log in, create an account if you don't already have one, or subscribe.
If you continue to experience issues, please contact us at 202-466-1032 or help@chronicle.com