On average, Black, Hispanic, American Indian and Alaska Native borrowers would see their lifetime payments per dollar borrowed be 50% of what they would be on the current REPAYE plan, the Department of Education estimates.
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Federal student loan borrowers may soon see their monthly payments cut by at least half — and potentially have their debt forgiven in as little as a decade — due to big changes the Education Department intends to make to one of its existing repayment plans. More details on the revised income-driven repayment plan surfaced in...
