ACA InternationalFederal student loan borrowers would pay their loans based on their income upon leaving school, and the plan would act as a form of insurance against tough economic times.
As defaults and delinquencies among federal student loan borrowers are increasing, a consortium of higher education advocacy and research organizations is calling on Congress to reform the overly complex loan repayment process.
Today, roughly two-thirds of graduating college seniors leave college with debt. In 2011, one in 10 borrowers defaulted in the first two years after entering repayment for their loans, according to a report from the consortium. That rate is nearly double what it had been five years earlier. More...