Courtesy of Personal Money Store Money Blog

Tuesday, July 13th, 2010

By Mary Rice

The income-based repayment calculations are now based on joint taxes, if you’re married.  With the fall semester of 2010 coming up for many college students, recent changes to student loan programs are taking effect. Some of the biggest changes include an alteration of income based repayment standards. This help for graduates with student loan debt will reduce payments on this easy loan for some. New formulas and rules for student loans will, in the end, help make higher education more affordable for most.

Dropping rates for student loans

As of July 1, rates on a form of small loan subsidized by the government did drop. Rates for Stafford loans that have been subsidized dropped from 5.6 percent to 4.5 percent. Subsidized loans that originated before July 1, 2010, and unsubsidized loans will maintain the same rate as before.

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