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EDUCATION DEPT.
Some Relief On Student Loans
Repaying a student loan could soon be a little less painful.
Starting this week, anyone with a federal student loan can apply for a new Education Department program, which caps monthly payments based on income and which forgives remaining balances after 25 years. Those agreeing to public service work could have loans forgiven after 10 years.
Eligibility for income-based repayment is determined by a person's income and loan size. A calculator at http:/
The program stems from the College Cost Reduction and Access Act, signed in 2007, which authorized the creation of an income-based repayment plan for some types of loans.
Payments would amount to less than 10 percent of income for most of the estimated 1 million people expected to enroll, experts say. Payments would never exceed 15 percent of any income above about $16,000 a year (or 150 percent of the poverty level). Those who earn less than $16,000 would not have to make any monthly payments.
-- Associated Press
Stonewall Riots Marked: Activists took to the streets of New York on Sunday to mark the 40th anniversary of the Stonewall uprisings, which became a defining moment of the gay rights movement. Calling for legalizing same-sex marriage, a bill for which remains before the New York Senate, hundreds of thousands of people joined the annual parade that marks the 1969 raid on the Stonewall Inn.
Death Toll in Okla. Crash Rises to 10: The death toll from a chain-reaction accident Friday on Oklahoma's Will Rogers Turnpike has risen to 10. Some victims of the accident had been trapped in the wreckage for up to nine hours after a tractor-trailer slammed into cars that had stopped on the highway because of a previous accident.
-- From News Services
