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Uploaded on Oct 27, 2011
On Thursday October 27, 2011, Congressman Courtney, on the floor of the U.S. House, applauded new initiatives by President Obama to help students repay their federal student loans. The initiatives include a new income-based repayment plan, which will allow borrowers to cap their student loan payments at 10 percent of their discretionary income. The Administration's new "Pay As You Earn" proposal will make these benefits available to some borrowers as early as 2012, and will reduce monthly payments for as many as 1.6 million borrowers nationwide. http://1.usa.gov/syyEY5