- Posted July 26, 2014 by
This iReport is part of an assignment:
Income based repayment to solve student loans default
There federal government is offering a new way of solving the student loan default problem that is affecting 7 million Americans. The U.S. Treasury will be offering an income-based repayment that will look at your income, family size and state that you are staying in.
Ultimately this will help many Americans who have a student loan but cannot pay because they do not earn enough to feed themselves and their family while having to pay for an education that is earning them less than what they had to pay to get it.
The problem is a annual $100billion problem and if the Federal Government is able to solve it, there could be extremely positive effects on the economy For more infor, pls click here.