New website launched for student loan borrowers - Fox29 WFLX TV, West Palm Beach, FL-news & weather

New website launched for student loan borrowers

WASHINGTON (AP) -- The Department of Education has launched a new website to help people with student loans find a repayment option that best suits their needs.

The move is part of an effort the Obama administration is undertaking to enroll an additional 2 million people into repayment programs such as the Pay As You Earn program, which caps monthly student loan payments at 10 percent of income.

Federal student loan debt exceeds $1.3 trillion, and about one in seven borrowers default on their loans within three years of beginning to repay them.

The Government Accountability Office found last year that many eligible borrowers don't participate in the income-based repayment programs, in part, because the department doesn't consistently notify them of their options.

The new website is StudentLoans.gov/Repay.

Associated Press 2016

Powered by Frankly

1100 Banyan Blvd.
West Palm Beach, FL 33401

FCC Public File
EEO Report
Closed Captioning

All content © Copyright 2000 - 2018 Raycom Media. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.