A record one-quarter of $450 billion of student loans are being repaid on income-based repayment plans, DBRS
Posted on AllSides February 22nd, 2020
From The Center
Unemployment hasn’t been this low for 50 years, but a record one-quarter of student loans from a popular federal program qualified for easier repayment plans to help borrowers avoid default, according to DBRS Morningstar.
Income-based repayment plans were being used on 24.7% of $452 billion worth of student loans with U.S. government backing during the fourth-quarter of 2019, up from 21.8% a year earlier, DBRS Morningstar said in a Friday report.
The Obama administration bolstered income-based repayment options in 2009 for student borrowers in the Federal Family Educational Loan Program...
