July 6, 1994
White House and Colleges Near Agreement on Loan Repayments
Washington, D.C. -- The Clinton Administration and higher-education officials are nearing final agreement on the rules for a new student-loan repayment plan, but only after White House efforts to reshape the plan infuriated the colleges.
The rules would govern a new, income-contingent option for loan repayment. Participants in the new federal direct-lending program could base their monthly payments on a percentage of their income after graduation.
President Clinton trumpeted
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