March 14, 2008
Education Dept. to End 'Hardship' Loan Plan
The Education Department announced last week that it would end a "hardship" provision that would have reduced interest payments for low-income college graduates by more than $1-billion over the next decade. Student-aid advocates largely agreed with that decision, saying the provision had often benefited students who needed help the least.
Department officials had planned to let the hardship provision exist as an alternative for borrowers alongside a new income-based repayment plan
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