Last week, President Barack Obama announced that a congressional program to make student loans more affordable and easier to repay would start next year, two years earlier than planned. …
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Defaulting on a loan can damage a grad’s financial life before it ever really gets started, making it essential for them to make a plan to pay off their loans.
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The White House announced a new nationwide initiative last week to ease the burden of student debt by reducing interest rates and minimum payments – a move a University administrator said would affect few students.
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Amanda Simpson-Hensley has more than $28,000 remaining in student loan debt following a two-year, part-time program at Wilmington College about 15 years ago.The Fairfield resident, like millions of other Americans, has struggled the pay off the large debt. Outside of mortgages, college student loans are the No. 1 source of household debt, experts say.
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A plan announced Wednesday by the Obama administration to take a bite out of student loan debt was hailed by local college officials who say it will help to dull ever-rising college tuition costs. Obama’s “Pay As You Earn” proposal would reportedly reduce monthly payments for more than 1.5 million current college students and borrowers starting in 2012 to 10 percent of their discretionary income …
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