October 17, 2012 - 1:50am
#Michlinks: Obama student loan-repayment program will help wealthy
BY ADAM RUBENFIRE
#Michlinks is The Michigan Daily’s citizen journalism tool that compiles reporting about Ann Arbor and the University of Michigan. If you find an interesting piece about the city of Ann Arbor, college life or the University, send a tweet with the hashtag #Michlinks for a chance to be published on our website.
Obama's loan-repayment plan will be 'windfall' for wealthy: chroni.cl/RQhjxX #studentdebt
— Chronicle (@chronicle) October 16, 2012
A report from the New America Foundation found that changes in the Obama administration's student loan-repayment program will give an advantage to wealthy students, the Chronicle for Higher Education reported. The program — which is income-based — will offer insignificant benefits to those with low-incomes. Those with higher-incomes will see their monthly payments drop more.
