Student Loan Repayment Relief Is On The Way
Posted on June 30th, 2009 by Student Loan News
Repaying a student loan could soon be a little less painful. Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. Those choosing to work in public service could have their loans forgiven after just 10 years. Eligibility for income-based repayment (IBR) is determined by a person’s income and loan size. A calculator at http://www.ibrinfo.org
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