Released: February 25, 2020
One-quarter of student loans are repaid on income-based repayment plans
Source: Joy Wiltermuth - MarketWatch
Unemployment hasn’t been this low for 50 years, but a record one-quarter of student loans from a popular federal program qualified for easier repayment plans to help borrowers avoid default, according to DBRS Morningstar.
Income-based repayment plans were being used on 24.7% of $452 billion worth of student loans with U.S. government backing during the fourth-quarter of 2019, up from 21.8% a year earlier, DBRS Morningstar said in a Friday report.
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