Secretary of Education Arne Duncan Leaves Out Two Important Student Loan Repayment Plans in BuzzFeed Article
ByPresident Barack Obama's secretary of Education Arne Duncan is somewhat active on the Internet, which is where many of the people he is trying to reach are.
He has been known to write blog posts on the U.S. Department of Education's (ED) website, on the Huffington Post and now on BuzzFeed. He published an article titled "Top 9 Things Every College Freshman Needs to Know" Thursday.
One of his tips reads "student loans will need to be repaid," but he does not mention two of ED's most important repayment plans for federal student aid.
First, the Pay As You Earn repayment plan allows graduates to keep their monthly student loan payments as low as they can be. The goal is to keep them as affordable as possible. Second, the Income-Based program is meant to keep monthly payments affordable for people with low monthly incomes.
In the write-up under the tip, Duncan linked to another blog post on ED's website with five considerations for taking out a loan. The post gave tips like researching salaries in the borrower's field and keep track of how much, but it also did not mention the repayment programs.
Obama recently debuted a plan for lowering college costs, which came just after a signing a bipartisan student loan bill. The President has made higher education reform his goal since taking office and some are encouraged he can do so with his history as an educator.
The bill, passed earlier this month lowers federal student loan interest rates for now, tying them to the financial market. However, as the economy recovers, which it is expected to do so, the rates will climb. The bill was a rare agreement between Democrats and Republicans who had hotly debated student loans for some time. The bill represents a compromise between the two sides.
Click here to read Duncan's BuzzFeed article and see the .Gif files he included, but here are the nine tips anyway.
1. Attend class
2. Beer is not a major food group
3. Student loans will need to be repaid
4. Consider becoming a teacher
5. Make the most of your free time
6. Read the assigned readings
7. Get physical
8. Keep an open mind and make new friends
9. Remember that you are the next generation of leaders