February 7, 2008

Panel Debates Details of New Loan-Repayment and Forgiveness Plans

By Kelly Field

Washington

Last fall, as part of a law that significantly increased federal student aid, Congress created a new income-based loan-repayment plan and expanded loan forgiveness for public servants.

Those provisions allowed struggling borrowers to repay their student loans as a percentage of their income, and offered debt forgiveness to direct-loan borrowers who have worked at least 10 years for a government or tax-exempt organization.

But Congress left the details of how to

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