President Obama’s recent announcement on student debt; that he was extending the Pay As Your Earn scheme to allow even more students to spread their repayments and in some cases to not repay at all. However, as with all government policies, the headlines make the news
but the real story is in the detail. Looking at the fine print, it appears that most college graduates will not benefit from the scheme. Only those with unusually high levels of debt and lower income will be winners. This is a small percentage of student borrowers. Read the full story.