Student Loan Payments May Come Directly Out Of Your Paycheck In The Future
Alexander laid out his vision in a speech earlier this month, looking to completely overhaul the system for financial aid and student loan repayments. A move that could ultimately affect up to 40 million borrowers, who owe a collective $1.5 trillion in outstanding student loan debt.
Alexander proposed a repayment plan based on a borrower’s income. It would never require the borrower to make payments of more than 10 percent on their income, he said.