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The Water Cooler
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Just found this on yahoo. Student loan forgiveness
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<blockquote data-quote="VitruvianDoc" data-source="post: 1645999" data-attributes="member: 13736"><p>I hope you know it was Bush who did the PSLF.</p><p>Bush got rid of Forbearance and enacted the Income Base Repayment option to replace it. It was set at 15% of the income over the poverty line. Bush is also responsible for the policy that jacked repayment interest rates up from the low 1.5-3% to 6.8+.</p><p></p><p>Now, Obama reduced the mark from 15% to 10% over poverty. </p><p>He also reduced the 25 years to 20 years for forgiveness.</p><p></p><p>In a trade off with republicans about the deficit battle that occurred last Summer, he allowed a Republican measure to pass which completely eliminated subsidized loans for students in graduate level degrees.</p><p></p><p>So truth be told, I am happy with neither party.</p></blockquote><p></p>
[QUOTE="VitruvianDoc, post: 1645999, member: 13736"] I hope you know it was Bush who did the PSLF. Bush got rid of Forbearance and enacted the Income Base Repayment option to replace it. It was set at 15% of the income over the poverty line. Bush is also responsible for the policy that jacked repayment interest rates up from the low 1.5-3% to 6.8+. Now, Obama reduced the mark from 15% to 10% over poverty. He also reduced the 25 years to 20 years for forgiveness. In a trade off with republicans about the deficit battle that occurred last Summer, he allowed a Republican measure to pass which completely eliminated subsidized loans for students in graduate level degrees. So truth be told, I am happy with neither party. [/QUOTE]
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Just found this on yahoo. Student loan forgiveness
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