As of 2017, approximately half of student debt is being repaid through income-driven plans, says a report issued by the Congressional Budget Office (CBO) this month. The report, titled “Income-Driven Repayment Plans for Student Loans: Budgetary Cost and Policy Options,” examines the budgetary costs and policy options of income-driven student loan repayment plans. These plans tie the amount of payments to a borrower’s income and allow for forgiveness after 20 to 25 years. They were introduced by Congress to reduce defaults.
https://diverseeducation.com/article/167307/
