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Topic: College
Starting today, student loan payments become more affordable for millions of Americans
July 1, 2009 | 
New Financial Aid Benefits Allow Borrowers to Pay Back Loans Based on Their Income
WASHINGTON, D.C. – Starting today, federal student loans will become more affordable to repay as a new Income-Based Repayment (IBR) program takes effect. IBR will allow borrowers to cap their monthly loan payments based on how much income they earn. This program, in conjunction with a lower interest rate on subsidized – or need-based – student loans and an increase in the Pell Grant scholarship, will help make college more affordable and help alleviate devastating student loan burdens for millions of students, recent graduates and other borrowers.
“This help couldn’t be coming at a better time for borrowers in this tough economy, or for current and future students facing an escalating college affordability crisis,” said U.S. Rep. George Miller (D-CA), chair of the House Education and Labor Committee. “These benefits will make a serious difference for students and families working very hard to pay for college, and will provide millions of borrowers more flexibility in choosing a career they truly desire rather than one made necessary due to crippling student debt.”
“Under this new program, students no longer have to choose between serving their nation and communities and tackling a mountain of college debt,” explained U.S. Senator Edward M. Kennedy (D-MA). “Our nation is better and stronger when the best and brightest young Americans choose careers in public service.” «Read the rest of this article»
Sections: Education | No Comments
Pitts backs effort to retrain unemployed Tennesseans
By Turner McCullough Jr. | May 16, 2009 |
TN House Chambers
Saying that unemployed Tennesseans should not have to chose between keeping a roof over their heads and getting skills for a new career, State Rep. Joe Pitts supported legislation to end that dilemma. House Democrats have sponsored a bill that would let laid off Tennesseans retain their unemployment benefits while they return to school to be retrained for new careers.
The legislation would allow a person receiving unemployment benefits due to losing their job to retain those benefits when they choose to return to college to get new job skills to succeed in tomorrow’s economy. The measure was approved by all present members of the Tennessee House of Representatives on Thursday. «Read the rest of this article»
Sections: Politics | No Comments
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