Borrowers Using Income-Based Repayment Plans Are Mostly Low-Income, Report Says

By Andy Thomason. Borrowers using the federal government’s income-driven repayment plans are overwhelmingly low-income and much less likely to default, according to a new report from the Government Accountability Office. The report, which was requested by Sen. Patty Murray of Washington, the top Democrat on the Senate’s education committee, also encourages the Education Department to better spread the word about the programs. More...