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Article posted Oct 22 2012, 4:29 AM Category: Economy Source: The Raw Story Print

Report: Obama student debt-relief payment plan 'windfall' to wealthy borrowers


A new report from the independent think tank the New America Foundation released Tuesday provides a sobering analysis of a much-touted Obama administration plan to offer repayment of student loans adjusted to one’s income. The report found that the debt-relief plan actually offers the “unnecessary” help to higher-income students, while students making less than $25,000 a year will only see their payments shrink “by as little as $5 and not more than $20″ a month.

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