About 1 in 7 borrowers default on their federal student loans within just three years of beginning to repay them.
President Barack Obama's administration is launching a new website that clearly outlines income-based repayment plans. It provides personalized repayment plans so Americans can pick what best suits their needs.
Administration officials say income-based repayment plans can slash monthly payments. They extend the repayment period from 10 years to 20 years. Remaining balances of federal loans will be forgiven after 20 years.
Education Secretary John King said the goal is to enroll at least 2 million more borrowers in repayment plans. He told reporters on a conference call that he is still paying back loans that he took out in graduate school. King said the goal is to protect consumers' credit.
Defaulting can damage credit, making it difficult to obtain other types of loans.
More than 40 percent of Americans who borrowed from the government’s student-loan program aren’t making payments or are behind on payments, raising worries that millions may never repay.
Federal student loan debt now exceeds $1.3 trillion.
The event formerly known as Home World has a new name and new location.Get totally inspired for spring as you find hundreds of ways to improve your home. Make your home the one you really want. Show open daily duringmall hours. Admission is free!
Landscaping and Outdoors
Get ready for Spring and Summer and transform your outdoor space into something that feels like you’re on vacation
Make sure to visit our demonstration stage during the entire show. There will be exciting demonstrations on how to re-purpose and design thanks to Monarch Market Affair.
Meet Barry Williams from The Brady Bunch
Join us as we welcome Me-TV superstar Barry Williams who played the iconic Greg Brady from The Brady Bunch TV Show. Meet him and get an autograph on February 10th stage side at center court in front of Macy’s.
The line will start forming when the Mall Opens, and Barry’s First appearance will be at 11 a.m.
Come prepared with your camera or cell phone for the Meet and Greet.