“I’m only here because this country gave me a chance through education. We are here today because we believe that in America, no hardworking young person should be priced out of a higher education. This country has always made a commitment to put a good education within the reach of young people willing to work for it.” — President Barack Obama.
To continue in the administration’s efforts to make college affordable for people across the country — no matter where they come from or who they are — President Obama has issued the White House Student Loan Debt Challenge to Valencia and organizations across the country to help borrowers understand their student loan repayment options. Always eager to help students and employees, Valencia happily accepted the challenge. We hope you find this article helpful in finding resources to navigate the complexities of student debt.
Whether you still owe on student loans or know a colleague or student with student loans, we encourage you to explore your options so that you can reap the rewards of your education while successfully managing your debt.
Options include plans such as the Pay-As-You-Earn (PAYE) Plan, which can help borrowers cap their monthly payments to no more than 10 percent of their income — making payments as low as $0 per month,
Other payment plans include Income-Based Repayment (IBR) and Public Service Loan Forgiveness (PSLF) payment plans — each designed to maximize the benefits of a college education and minimize the financial burden of student loans.
To learn more about the eligibility requirements, monthly payment amounts and how to enroll in PAYE, IBR or PSLF, click here.
For personalized information on how you can manage your student loan, click here. To learn more about the White House Student Loan Debt Challenge and other ways President Obama is helping Americans manage their student debt, click here.
If you have any questions, please contact Sedrick Brinson, financial aid specialist, at firstname.lastname@example.org or extension 5236.