Obama's new plan for IBR. (or is it?)

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onthemoney
Posts: 82
Joined: Mon Mar 22, 2010 7:41 pm

Obama's new plan for IBR. (or is it?)

Postby onthemoney » Wed Oct 26, 2011 1:08 pm

Obama is set to announce today that IBR will decrease to 10% of discretionary income (down from 15%), and loan forgiveness after 20 years (originally 25). Above the Law had a piece that was supposed to happen in 2014 anyways (as part of the debt deal several months back). How Obama plans on doing this without Congressional approval I have no idea, but either way, what do people think of this plan?

Seminole_305
Posts: 88
Joined: Mon Apr 04, 2011 4:11 pm

Re: Obama's new plan for IBR. (or is it?)

Postby Seminole_305 » Wed Oct 26, 2011 8:28 pm

If it was 15 years it wouldn't be a bad deal but still 20 is better than 25.




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