Student loan expert Heather Jarvis writes:
On October 25, the Obama administration announced executive orders designed to assist struggling student loan borrowers. The President announced two new student loan initiatives:
- Pay As You Earn, making the Income-Based Repayment plan more generous for certain borrowers by fast-tracking improvements to the way payments are calculated and reducing the time it takes to earn forgiveness, and
- “Special” Consolidation Loans providing a modest interest rate reduction for student loan borrowers who have a specific combination of student loans.
If you’re wondering how these new initiatives might apply to you, read all the nitty-gritty details on Heather’s blog.
p.s. Want to meet Heather Jarvis and ask her your questions in person? She’ll be at our Idealist Grad Fair in Chapel Hill, NC this Saturday. Please spread the word if you’re in the Triangle!