Paying off student loans isnt easy and can take years, but the Department of Education is trying to make it easier through streamlined repayment options.
In a conference call Friday with U.S. student reporters, Education Secretary John King Jr. spoke about two ways the department is attempting to streamline the student loan repayment process: income-driven repayment plans and the public service loan forgiveness program.
Under the new payment options, which were implemented last fall, King said most borrowers are eligible to cap their student loan repayments at ten percent of their monthly income, and qualifying students working full-time in public service can see their loans forgiven after making 120 qualifying payments.
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