WSAW NewsChannel 7  | Central WI, Wausau, Rhinelander  |  News, Weather, Sports

Feds Urge Students to Check Loan Repayment Plans

By: Associated Press Email
By: Associated Press Email

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.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@wsaw.com.
Please provide detailed information.
All comments must adhere to the WSAW.com discussion rules.

powered by Disqus
WSAW-TV 1114 Grand Ave. Wausau, WI 54403
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 230503411