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White House to Expand Income-Based Repayments for Student LoansJun 08, 2012
Associated Press – The White House announced a new initiative to enroll more college graduates into an income-based repayment plan for student loans. This program caps the amount students have to repay every month based on their discretionary income. Roughly 700,000 people participate in the program, but the US Department of Education believes many others may qualify. The proposal also dictates that students be made aware of income-based repayment options prior to graduation. The Dept. of Education also plans to boost online information to make the financial aid process more clear to students. For more, read Obama Highlighting Student Loan Repayment Option.