5/10/2010

Congress recently expanded a program that may help people trying to pay off student loans. The current program caps the amount that can go to paying off student loans to 15% of income and forgives any remaining debt after 25 years. Under the new program, debt service limits will be capped at 10% of income for loans issued after 2014 and remaining debt will be forgiven after 20 years. The program only applies to student loans issued by the federal government.

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