Proposal for Overhauling Student-Loan Program Gets Mixed Reviews
Dec. 19, 2012 – “Legislation introduced in Congress this week that would overhaul the federal student-loan programs by changing how interest rates are set and how borrowers repay their loans is getting mixed reviews from student-aid advocates,” The Chronicle of Higher Education reports. “The National Association of Student Financial Aid Administrators has come out in support of the measure. Justin Draeger, the group’s president, said that the automatic-payment system would protect “those borrowers who are most vulnerable from the ‘life-alternating financial calamity” of defaulting on a loan.”
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