Feds urge students to check loan repayment plans - KALB-TV News Channel 5 & CBS 2

Feds urge students to check loan repayment plans

Posted: Updated:
Photo Credit: MGNOnline.com Photo Credit: MGNOnline.com

WASHINGTON (AP) - The Education Department says it will begin reaching out by email this month to about 3.5 million federal student loan borrowers. They will be encouraged to learn more about their repayment options, especially whether they qualify for an income-based repayment plan.

The department says many borrowers will qualify if their federal student loan debt exceeds their annual income. For those who qualify, their initial payment could be as low as nothing a month.

Under such a plan, loans are paid off over a longer period of time so the total amount increases, but the monthly payment amount is reduced. Borrowers working in public service may qualify to have their remaining loan balance forgiven after a decade of payments.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Most Popular StoriesMost Popular StoriesMore>>

  • *UPDATE* Missing juvenile female in Alexandria FOUND

    *UPDATE* Missing juvenile female in Alexandria FOUND

    Thursday, April 24 2014 6:31 PM EDT2014-04-24 22:31:25 GMT
    ALEXANDRIA, La. (KALB News Channel 5) - The Rapides Parish Sheriff’s Office is asking for the public’s assistance in locating a missing juvenile. Gabrielle Dubroc is described as a white female, 14 years of age, with brown hair, brown eyes, and is 5’2” tall.More >>
    ALEXANDRIA, La. (KALB News Channel 5) - The Rapides Parish Sheriff’s Office is asking for the public’s assistance in locating a missing juvenile. Gabrielle Dubroc is described as a white female, 14 years of age, with brown hair, brown eyes, and is 5’2” tall.More >>
  • New "Swatting" game causes massive police response

    New "Swatting" game causes massive police response

    Thursday, April 24 2014 12:57 PM EDT2014-04-24 16:57:42 GMT
    LONG BEACH, N.Y. (CBS News) - Police descended upon a home in Long Island, N.Y. Tuesday after receiving a 911 call from a man who said he had shot several of his relatives inside the house.More >>
    LONG BEACH, N.Y. (CBS News) - Police descended upon a home in Long Island, N.Y. Tuesday after receiving a 911 call from a man who said he had shot several of his relatives inside the house.More >>
  • Woman allegedly attacked boyfriend with ax, went after neighbors

    Woman allegedly attacked boyfriend with ax, went after neighbors

    Thursday, April 24 2014 12:50 PM EDT2014-04-24 16:50:25 GMT
    LUNENBURG, Mass. (CBS News) - A Massachusetts woman has been arrested after she allegedly attacked her boyfriend with an ax before also going after the couple across the street, reports CBS Boston.More >>
    LUNENBURG, Mass. (CBS News) - A Massachusetts woman has been arrested after she allegedly attacked her boyfriend with an ax before also going after the couple across the street, reports CBS Boston.More >>
Powered by WorldNow
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KALB. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.