Income-Based Repayment For All
"All student borrowers should automatically be enrolled in income-based repayment plans because far too many of them default on their debt, Young Invincibles Policy and Research Director Rory O'Sullivan told Morning Education," Politico's Morning Education reports.
"Administering that plan through employer withholding has the potential to eliminate delinquencies and defaults, a new paper out today from his group and several others says.
The idea would require some accountability tweaks and adjustments to the current repayment formula, but it would be well worth it, O’Sullivan said.
The report also suggests that for students to get federal student loans, an institution should have to prove its borrowers can pay off debt. The paper from Young Invincibles, the National Association of Student Financial Aid Administrators, the Institute for Higher Education Policy, the New America Foundation and HCM Strategists: http://politico.pro/1eTxeGn."
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