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A Loan Program Simplification That Could Drastically Lower Default Rates And Help Struggling Borrowers

20 March 2014 19 views No Comment

An employer withholding process would simplify repayment for federal student loan borrowers, NASFAA Policy Analyst Karen McCarthy explained Thursday at the “Federal Student Loans: Recommendations on Income-Based Repayment (IBR)” forum in Washington, D.C. The provision is a key piece of a larger recommendation, universal IBR (referred to as “auto-IBR”) for federal borrowers, put forth in a recently-released report by NASFAA and other organizations present at the forum: Young Invincibles, the Institute for Higher Education Policy, HCM Strategists, the Committee for Economic Development, and New America.

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