If universal and automated REPAYE could be the objective, then there are lots of practical actions to simply take
Eliminate loan “rehabilitation”, the long and process that is onerous defaulted borrowers must presently undertake prior to engaging in REPAYE. Just place them in REPAYE instantly.
Permit the IRS to offer earnings information straight towards the Department of Education for purposes of implementing REPAYE. Or, even better, permit loan payment through the withholding system utilized to get payroll and income taxes, amending Form W-4 to inquire of about figuratively speaking, and enabling self-employed people to update re re re payments considering their quarterly profits. Read More