Relevant:
- US Treasury Sounds Alarm over Student Loans
- The broken tassel of American higher education -- College debt defaults bring up questions about repayment structure. Is college even worth the current costs?
- More Than 40% of Student Borrowers Aren't Making Payments
- Writing Off Student Loans Is Only a Matter of Time, As Only 37% Pay Down
- Student-Loan Defaulters in a Standoff With Federal Government
2014-07-26 — bloomberg.com
Leading the effort is Deputy Secretary Sarah Bloom Raskin, who became the department's No. 2 official in March after more than three years as a Federal Reserve governor. As higher-education debt swells to a record $1.2 trillion, Raskin, 53, is alert to parallels to the mortgage crisis.
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Among the options under consideration is boosting participation in underused Education Department programs that reduce monthly payments by tying them to a percentage of income for those who struggle, while extending the term of the loan.
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