Education Next – Sandy Baum and Matthew M. Chingos
“The options available to former students repaying their federal student loans have improved over the past decade. Instead of making equal payments every month for 10 years, 31 percent of borrowers are now in plans that set payments at an affordable share of their incomes and forgive remaining balances after 20 or 25 years. But the system of multiple plans is too complicated and difficult to navigate, default rates remain stubbornly high, and the latest estimates project significant long-term costs to taxpayers.” (more)