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Congress took last action Dec. 10 on legislation meant to enhance the system for repaying federal student education loans for about 8 million borrowers now signed up for income-driven payment plans and people whom sign up for the long term.
The Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act authorizes information sharing between your IRS and also the U.S. Department of Education, which may streamline burdensome and duplicative earnings verification demands for enrolling in the plans that tie re re payments to a borrower’s earnings.
The provisions that are data-sharing the long run Act lay the building blocks for extra efforts to restructure the education loan repayment system to greatly help those many at an increased risk of—or currently dealing with issues with— delinquency and standard.
Continue reading Congress Finalizes Bill to back help millions Pay Student Education Loans