Congress is currently negotiating the terms of a new income-driven repayment (IDR) plan that would be less affordable than existing plans. Unfortunately, one of the plans being negotiated would eliminate time-based forgiveness – one of the hallmark features of IDR plans. Without time-based forgiveness, many struggling borrowers could be taking on a literal lifetime of debt with no chance of forgiveness after 20 or 25 years as has been the standard practice. Meanwhile, the other plan offers no solution to deal with the crippling debt caused by interest capitalization, which leaves borrowers with more debt than they began with after years of repayment.

A repayment plan should be affordable, accessible, offer time-based forgiveness, and not leave borrowers with more debt than when they entered repayment. Now is your chance to tell Congress just that! Send our pre-drafted email and tell Congress what terms you want to see in a repayment plan!