» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 216 | Tuesday, November 05, 2013

Feds Urge Students to Check Loan Repayment Plans

AP

Print | Front Page | Email this story | Comments ()

WASHINGTON (AP) – The Education Department says it will begin reaching out by email this month to about 3.5 million federal student loan borrowers. They will be encouraged to learn more about their repayment options, especially whether they qualify for an income-based repayment plan.

The department says many borrowers will qualify if their federal student loan debt exceeds their annual income. For those who qualify, their initial payment could be as low as nothing a month.

Under such a plan, loans are paid off over a longer period of time so the total amount increases, but the monthly payment amount is reduced. Borrowers working in public service may qualify to have their remaining loan balance forgiven after a decade of payments.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 43 238 964
MORTGAGES 75 329 1,319
FORECLOSURE NOTICES 26 89 297
BUILDING PERMITS 144 648 1,990
BANKRUPTCIES 67 304 943
BUSINESS LICENSES 23 107 394
UTILITY CONNECTIONS 104 383 1,325
MARRIAGE LICENSES 15 62 194

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.