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VOL. 128 | NO. 216 | Tuesday, November 5, 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 This material may not be published, broadcast, rewritten or redistributed.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 82 82 19,655
MORTGAGES 75 75 22,989
FORECLOSURE NOTICES 7 7 8,311
BUILDING PERMITS 138 138 40,167
BANKRUPTCIES 72 72 13,176
BUSINESS LICENSES 9 9 6,146
UTILITY CONNECTIONS 52 52 13,048
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