Bill Proposal Pushes to Deduct Student Loan Payments Out of Paychecks

By | On February 19, 2019

According to reports, the GOP is proposing an overhaul of the student loan/debt system, which includes deducting borrowers’ monthly loan payments from their paychecks—automatically.


A Tennessee Senator named Lamar Alexander laid the plan out during a speech earlier in February and noted the changes could affect 40 million people. The proposal indicated that there would be two ways that borrowers could repay. One way would spread the loan payments out over a decade, while another would take the borrowers’ monthly bill and cap them at 10 percent of their income.

Senator Alexander commented on the proposal, saying “It makes sure if there were no money earned, there would be no money owed, and that would not reflect negatively on a borrower's credit.”

source: CNBC

💬 KINDLY SHARE WITH FRIENDS 🗣


😹 COMMENT ON THIS STORY 😝

No comments:

SHARE IT IF YOU ❤️ IT!

😲 You May Also Like 👍

SUBSCRIBE NEWSLETTER

Get an email of every new post! We'll never share your address.