Income-driven repayment plans face uncertain future
Changes to student loan repayment plans, including the removal of online and paper applications for income-driven repayment plans from the U.S. Department of Education website, may be causing confusion for some student loan borrowers.
Experts cited in a news article from the Associated Press noted that the changes may be particularly impactful for individuals who recently lost employment. They noted that recertification processes are also unclear for those enrolled in repayment plans. Following layoffs at the department, websites for financial aid and student loans experienced outages — potentially adding to the uncertainty.
The experts advised borrowers enrolled in income-driven repayment plans to speak with their loan servicers to learn about recertification deadlines and determine their next course of action. Those having difficulties with their federal student loans or facing financial hardship were encouraged to contact their congressional representatives to inquire about enrolling in affordable repayment options or to better understand their eligibility for temporary forbearance or deferment.
Read more: Associated Press
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