How many graduates are aware of this program? "Less than 10 percent of federal borrowers -- about 40,000 -- are enrolled in the federal income-based repayment plan, “Pay as You Earn,” which, according to the CFPB, can lower payments to just 10 percent or less of annual income. "If borrowers were aware of and able to easily enroll in income-based plans through their servicer, many federal student loan defaults could have been avoided," CFPB student loans ombudsman Rohit Chopra said in a blog post this month."
Posted on: Fri, 16 Aug 2013 00:59:24 +0000