Trump Student Loans offers information about the status of student loan opportunities under President Donald Trump. The blog post reflects new information to help decide the type of repayment plan best suited to the borrower.
Dallas TX: Student Loan Resources is pleased to announce the release of their latest blog post. The topic of the post is a description of the known facts about student loan repayment plans under the new President of the United States, Donald Trump. The President is considering ways in which the repayment terms of educational loans are structured or revised in the future. After a few weeks with President Trump, some of his decisions are already identified.
Trump Student Loans offer some good news for those with outstanding student debt. It appears that the new President is working to make repayment of the loans less painful. He has a new repayment plan in mind to add to or alter the student loan plans that are already in place.
Currently, the PAYE program from the Obama era caps payments at 10 percent of the borrower's discretionary income. Borrowers pay on the loans for 20 years, at which point the loans are forgiven. REPAYE has some minor differences, but both types have a set number of years and a set amount which must be paid before the balance is forgiven. The proposed Trump plan wants to change PAYE, REPAYE, IBR and ICR to create a single type of student loan repayment plan which is income driven.
According to the blog article, the repayment cap would be approximately 12.5 percent of discretionary income, with a repayment period of around fifteen years. The change for people paying off the debts can be significant. There is a five to ten year difference in repayment periods. If there is a conversion option from the current repayment plans to the new ones, it would be a huge benefit for many people. The blog author considers that time will be required to determine whether the new repayment plans will be put in place. The four-year presidential terms allow for time to put the changes into effect.
For more information about them, visit the web pages at www.studentloanresources.co.
325 North St. Paul, Dallas TX 75201
