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Author: hunnypot1 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8158  
Subject: Obama Expected to Promise Student Loan Relief Date: 6/9/2014 5:21 AM
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Not helpful for private student loans and there are a lot of restrictions.



http://money.cnn.com/2014/06/08/pf/college/obama-student-loa......

"President Obama will announce on Monday an expansion of a program that helps student loan borrowers manage their debt, a White House official said.

The official said Obama will expand the criteria for an alternative repayment program, which caps monthly payments for certain federal student loans at 10% of a borrower's discretionary income.

The changes would allow an additional 5 million borrowers to qualify and will be available beginning in December 2015, the official said.

The alternative payment programs are designed to help borrowers struggling under the weight of student loans. They include forgiveness programs for on-time payments and public-sector employees. Teachers can have their balance canceled after ten years, for example. Low-income borrowers can have their balance canceled after 20 or 25 years of on-time payments."
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