Student Loan Repayment Applications Face Widespread Errors Ahead of Major Policy Changes
By
Adam S. Minsky
Summary
Student loan borrowers are experiencing increasing problems and inaccuracies with online applications for income-driven repayment (IDR) plans, just as the Education Department prepares to implement major changes to federal student loans. The application processing issues include technical glitches, data errors, and processing delays that could leave borrowers in financial uncertainty during a critical transition period for the student loan system.
Source
bskyStudent Loan Repayment Applications Face Widespread Errors Ahead of Major Policy Changesforbes.comKey quotes
· 3 pulledThe problems are impacting the online application for income-driven repayment plans, repayment options for federal student loans that offer borrowers affordable payments tied to their income and family size.
IDR applications have been plagued by problems
And the issues could not be coming at a worse time.
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