Repaying a student loan could soon be a little less painful. Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. Those choosing to work in public service could have their loans forgiven after just 10 years. Monthly payments would amount to less than 10 percent of income for most of the estimated 1 million people expected to enroll. Read more at:
http://www.msnbc.msn.com/id/31596618/ns/business-personal_finance/
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June 29, 2009
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