For Sarah, streamlining student loan repayment for easy access to affordable repayment plans is critical. Sarah teaches second grade in Minnesota, and works to ensure that all her students have hope for their futures and “know that the possibilities are endless for them.” After paying her monthly loan balance, she lives paycheck-to-paycheck. Public service loan forgiveness options are available to help make debt more manageable and affordable, but many teachers like Sarah struggle to learn about whether or not they qualify. The Obama Administration knows that families across the country are working hard to pay off their loans. This Administration wants to ensure that students do not have to choose between a job that serves their communities and paying their debt, and that borrowers like Sarah do not struggle to navigate student loan repayment. That’s why the US Department of Education is taking steps to reinvent customer service for federal student loan borrowers to ensure that every borrower has the right to an affordable repayment plan like Pay As You Earn (PAYE), quality customer service, reliable information, and fair treatment as they repay their loans – objectives the President put forward in his Student Aid Bill of Rights.
Read more at the U.S. Education Department Blog: https://blog.ed.gov/2016/04/a-new-vision-for-serving-student-loan-borrowers/