While this sounds great for the borrower, it is not ideal for tax payers who essentially cover the remainder of this debt. (studentloans.net)
The repayment period is extended to 25 years, after which the remainder of the debt is written off. (mybanktracker.com)
If a teacher with a master's degree goes on to earn the median teacher's salary in the U.S., even after making 10 years of income - based payments, she won't have paid back more than the first $ 17,000 in federal student loans she borrowed as an undergraduate before the remainder of her debt is erased. (educationnext.org)