Student Loan Foregiveness

<p>The grad loans are eligible for the IBR in general, but I don’t think that they are covered by the Obama administrations recent initiative. IBR is not a new program, what is new is a slight change in terms – it used to be 15% of discretionary income over a 25 year period, Obama has now reduced that to 10% of discretionary income over 20 years. I may be mistaken, but I thought the new initiative was for undergraduate level loans only.</p>

<p>I think someone is trying to get out the youth vote again.</p>

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<p>Idk, I thought this “new” plan was really just bumping up timetable of the IBR/loan forgiveness provisions that were already scheduled to take effect in 2014. If so, both the Stafford graduate and Grad Plus loans could qualify as they already qualify for the 25 year limit. I only mentioned the public service loan forgiveness program because, at 10 years, it seems like more likely that people with a graduate degree would actually have debt remaining.</p>