Feature Story

February 3, 2010

Secretary of Education Arne Duncan to Discuss President Obama's Plans to Make Student Loans and College More Affordable

From Education Newsfeed:

On Thursday, February 4, at 3:30 p.m. EST, Secretary of Education Arne Duncan will hold a call with college journalists to discuss President Obama's plans to open the doors of college and opportunity.

Specifically, he will discuss the President's proposal to strengthen income-based repayment plans for student loans by reducing monthly payments and shortening the repayment period.

As outlined in his budget, the President's proposal would have overburdened borrowers pay only 10 percent of their discretionary income in loan repayments and have their remaining debt forgiven after 20 years. Those in public service careers will have their debt forgiven after 10 years. Secretary Duncan will also discuss the President's proposal to increase Pell Grants and steps that will put them on firm financial footing.

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