Congress
acts on student loans debt
By JUSTIN POPE
Congress is poised to make big changes to the government
programs tapped by millions of students to pay for college.
The biggest of these for students: a cap on what low-income
borrowers have to pay back each month on their federal
student loans.
Meanwhile, just over the last two years interest rates
have risen enough to more than double the total interest
some borrowers will eventually have to repay on their loans.
The real concernis the growing number of students piling
up significantly higher debts than the average. That trend
has an indirect cost even for non-borrowers: discouraged
by high monthly payments, talented people decide not to
pursue careers in relatively low-paying but critical public
service jobs like teaching.
There are also scattered programs of outright loan forgiveness,
targeting groups such as teachers and child-care providers
in low-income communities.
Source:
http://www.newsone.ca/piercelandherald/stories/index.php?
action=fullnews&id=29028
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