Unlike PAYE, which is only open to students who took out loans after October 2007, the REPAYE plan will be open to anyone who borrowed directly from the federal government. This includes older borrowers who were previously shut out from PAYE.
Like previous TICAS reports, "Student Debt and the Class of 2014" provides a comprehensive overview of the student debt crisis by combining a bird's eye view of the national scope of educational debt with state-by-state data.
Because we don't distinguish among types of higher education, many students don't know that undergraduate colleges can be much more affordable -- and lead to much less indebtedness -- than they realize.
Should students be borrowing more, not less? It's a relevant question for minorities in particular, since they are hit harder by crushing loans. Students of color are more likely to take on more student loan debt and graduate with more debt as well.
By designating price as a key criterion at the earliest stages of the college search process, families can avoid taking on excessive debt to pay for college. It's simple. It's sensible. And it's not at all the way it's done now.
The rising cost of college education is changing financial expectations of what it means to go to college. This generation of college graduates is tackling their college financial situation in radically different ways.