Friday, October 22, 2021

Play

Some states entice people back to the workplace by increasing safety standards and higher minimum wage; Bannon held in Contempt of Congress; and the latest cyber security concerns.

Play

House votes to hold Bannon in contempt of Congress; Trump announces new social media platform TRUTH Social; and the Biden administration says it will continue to expel migrants under Title 42.

Play

An all-Black Oklahoma town joins big cities in seeking reparations; a Kentucky vaccination skeptic does a 180; telehealth proves invaluable during pandemic; and spooky destinations lure tourists at Halloween.

Advocates Press for Reform Before Student Loan Repayment Deadline

Play

Monday, August 30, 2021   

SACRAMENTO, Calif. - In January, student loan borrowers will have to start paying off their loans again, as the pandemic-related pause on payment is set to expire. Now, a new report looks at ways to fix problems in the student loan system.

Report co-author Michelle Dimino - senior education policy advisor at Third Way, a public policy think tank in Washington, D.C. - said the repayment programs are far too complex, especially for teachers, health workers and social workers who apply for the public service loan forgiveness program.

"Right now, only about 1% of applicants who are submitting for public-service loan forgiveness are actually seeing their applications approved," said Dimino.

The report also found that the income-driven repayment plan is reaching far too few people, and many borrowers become discouraged when their payments only cover the interest and not the principal on the loan.

In the U.S, 45 million borrowers are struggling under $1.6 trillion in student loan debt.

Dimino said now is the time to consider proposals to cap interest on student loans, to limit interest to the amount required to service the loan, or to transition to upfront one-time fees instead of charging interest.

"It's an opportunity in the lead-up to the lifting of the repayment freeze to really think about whether there are alternatives to interest," said Dimino, "lower interest rates, grace period with interest, or other policies - that could help to ensure that borrowers are actually paying down the principal that they've taken out."

Starting in October, the U.S. Department of Education's new committee on student loan reform will tackle these issues in a monthly series of meetings. The hearings will be open to the public via livestream.

Support for this reporting was provided by Lumina Foundation.




get more stories like this via email
California has collected more than 600 tons of unwanted prescription drugs since the Take-Back Day program began in 2010. (Dodgerton Skillhause/Morguefile)

Health and Wellness

SACRAMENTO, Calif. - Saturday is National Prescription Drug Take-Back Day, when the Drug Enforcement Administration encourages everyone to clean out …


Health and Wellness

BALTIMORE - This month marks the four-year anniversary of the #MeToo movement, and an art project aims to help incarcerated survivors heal by telling …

Social Issues

OGDEN, Utah - Utah is one of only a handful of states that taxes food, but one state legislator says taxing groceries should become a thing of the …


In a new poll, 71% of all registered voters support strengthening rules to reduce oil and gas methane pollution, including 73% of Independents and 50% of Republicans. (Adobe Stock)

Environment

CASPER, Wyo. - A strong majority of voters across party lines say they want national rules similar to those passed in Wyoming to reduce methane …

Health and Wellness

ARLINGTON, Va. - Although COVID-19 rates have gone down, the virus continues to hit the Hispanic community especially hard. Now, a new campaign aims …

Child-care advocates say if North Dakota doesn't boost funding for the system, more families might pull out of the workforce because of access issues. (Adobe Stock)

Social Issues

BISMARCK, N.D. - A portion of American Rescue Plan funding sent to North Dakota has yet to be divvied up. Groups that want to improve the child-care …

Social Issues

PITTSBURGH - As businesses across the country deal with a massive labor shortage, Pennsylvania aims to entice people back to the workplace by …

Environment

ALBANY, N.Y. - Environmental groups want Gov. Kathy Hochul to sign a bill that mandates monitoring the state's drinking water for "emerging …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021