Eligible students who participate in a new, federal student-loan program will have their payments capped at 10% of discretionary income. Also, under the "Pay as You Earn" program, unpaid loans will be forgiven after 20 years. Currently, payments are limited to 15% of graduates' discretionary income, and loans are forgiven after 25 years. Eligible students can apply by the end of the year.
Published in Brief: