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Income driven repayment (IDR) plans are one way to help protect federal student loan borrowers. While specific terms may vary, IDR plans adjust a borrower’s monthly payment and length of repayment term based on his or her income.
Yet despite IDR plans and other existing, well-intentioned protections, almost a quarter of federal student loan borrowers will default over the life of their loan. In their latest report, AEI’s Andrew Kelly and Kevin James examine the issues with the current federal student loan repayment system and explore how IDR plans can be improved to help borrowers. Their recommendations include:
Read the full report: Balancing risk and responsibility: Reforming student loan payment.
To arrange an interview with Andrew Kelly or Kevin James, please contact AEI Media Services at mediaservices@aei.org or 202.862.5829.
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