Income-Driven Repayment Plans for Student Loans: Budgetary Costs and Policy Options

Autor/inn/en	Karamcheva, Nadia; Perry, Jeffrey; Yannelis, Constantine
Institution	Congressional Budget Office
Titel	Income-Driven Repayment Plans for Student Loans: Budgetary Costs and Policy Options
Quelle	(2020), (52 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Income; Loan Repayment; Student Loan Programs; Federal Aid; Budgets; Enrollment; Costs; Foreign Countries; Taxes; Loan Default; Debt (Financial); Undergraduate Students; Australia; United Kingdom + Suchen Sie Ihr Suchwort? Einkommen; Finanzhaushalt; Einschulung; Cost; Kosten; Ausland; Abgabe; Schuldnerverzug; Australien; Großbritannien
Abstract	Between 1965 and 2010, most federal student loans were issued by private lending institutions and guaranteed by the government, and most student loan borrowers made fixed monthly payments over a set period--typically 10 years. Since 2010, however, all federal student loans have been issued directly by the federal government, and borrowers have begun repaying a large and growing fraction of those loans through income-driven repayment plans. Introduced as a way to make student loan repayment more manageable, income-driven plans limit payments to a percentage of borrowers' income and allow for loan forgiveness after 20 or 25 years. In this report, the Congressional Budget Office examined how income-driven plans differ from plans that require fixed monthly payments, how enrollment in income-driven plans has changed over time, and how those plans are projected to affect the federal budget. [This report was written with guidance from Sebastien Gay.] (ERIC).
Anmerkungen	Congressional Budget Office. Ford House Office Building 4th Floor, Second and D Streets SW, Washington, DC 20515-6925. Tel: 202-226-2809; e-mail: publications@cbo.gov; Web site: http://www.cbo.gov
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01