Feds propose new rules aimed at helping borrowers repay student loans
The U.S. Department of Education on Tuesday unveiled proposed new regulations that officials said would make it easier to afford student loans payments. The changes would revamp how federal income-driven repayment plans work by, in part, raising income thresholds so more borrowers are eligible for $0 monthly payments.
“For more Americans to realize the benefits of higher education we must make paying student loans more affordable,” said U.S. Education Secretary Miguel Cardona during a call with reporters. “We’re making a new promise to today’s borrowers and to generations to come: Your student loan repayments will be affordable.”
