Federal Government Realeses New Option for Student Loan Repayment
By: Import User
Updated: June 30, 2009
If you heard about the hike in Texas Tech's tuition yesterday and you have student loans, this story is for you.
The federal government now has an alternative that makes it easier to pay back student loans.
The option is called income based repayment, or IBR. It bases your monthly payment amount on your adjusted gross income the amount of student debt that you have and the size of your family.
Carol Lindsey of the Texas Guaranteed Student Loan Corporation said IBR will help those in debt.
"Paying student loans doesn't have to be a difficult experience for students if they just have the right tools to use to repay. And IBR is a new tool available to them," Lindsey said.
