EDUCATION

Graduate On Time And This Texas University Will Forgive Part Of Your Student Loans

10/05/2012 04:50 pm ET

The University of Texas at Austin will test next year whether it can increase its four-year graduation rate and reduce student loan debt by forgiving some of those loans to students who complete their academic programs more quickly.

Under the pilot program announced Thursday, 200 fall 2013 freshmen will be offered forgiveness of significant portions of the most expensive loans they take out if they make a set amount of progress toward their degrees in a particular time frame.

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