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Under existing plans, any remaining balance will be forgiven after 20 years of payments, but we’re also giving borrowers with smaller loans a path to forgiveness in 10 years, one shortcoming of the existing IDR (income-driven repayment) plans is that all borrowers must be in repayment for up to 20 years, even if they only enrolled in college for a semester or two or borrowed a few thousand dollars.
Found on CNN 1 year ago
It’s time to name names about these programs and have a frank conversation about the root causes of unaffordable student debt, we plan to ask the colleges with programs that land on the list to provide an improvement plan, and we’re considering regulatory steps to warn students about these programs before they enroll. For the next 30 days, we will be inviting public comment on how to best build this list.
Found on CNN 1 year ago
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