Income-based repayment becoming a costly solution to student loan debt
- Written by Robert Kelchen, Associate Professor of Higher Education, Seton Hall University
Student loan debt is approaching the $1.5 trillion mark.zimmytws/Shutterstock.com
When Congress established the income-driven repayment for federal student loans back in 2007, it was touted as a way to help student loan borrowers save money by capping monthly payments at a certain percentage of a borrower’s income.
Since then, student loan...
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