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VOL. 128 | NO. 216 | Tuesday, November 05, 2013

Feds Urge Students to Check Loan Repayment Plans

AP

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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 This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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