Education Department announces new ‘Pay as You Earn’ student loan repayment will start Dec. 21

By Justin Pope, AP Education Writer | Associated Press – Fri, Dec 7, 2012 A new version of the income-based federal student loan repayment program that’s more favorable to many borrowers will go into effect starting Dec. 21, according to regulations scheduled for publication Friday. The “Pay as You Earn” program will allow eligible student-loan borrowers to cap monthly paymentsto 10 percent of discretionary […]