An expansion of the income-based college-loan repayment program is expected on Wednesday, lowering monthly payments and allowing some loan consolidation.
President To Ease Student-loan Burden For Low-income Graduates
By TAMAR LEWIN, New York Times
Tue, 10/25/2011 - 5:57pm
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Under pressure from advocates, the department also added a category for those facing “hardship.” It would offer cancellation to borrowers considered highly likely to be in default within two years.
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