Arne took time last week to answer a couple of questions he received on his Facebook page. Daniel had a question on the Income-Based Repayment (IBR) program and the President’s recent pay-as-you-earn proposal. Secretary Duncan encouraged Daniel and others with student loans to look at switching to the current IBR program. “Depending on your income, you could save literally hundreds of dollars every single month,” he said.
You can get an estimate of how much you could save by visiting our IBR page, and check out our IBR calculator that will give you an idea if IBR will lower your monthly payments.
Arne also responded to Lesley who left a great comment about her success as a community college student. Lesley, who now has her doctorate, talked about the power of education and how it can change lives.
“Community colleges, I continue to believe, have this ability to transform young people’s lives, adults’ lives, [and] older people’s lives in very profound ways,” Duncan said. He also highlighted the Obama Administration’s unprecedented commitment to community colleges, including the proposed American Jobs Act that would provide $5 billion for renovation and upgrades to community colleges across the country.
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