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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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