Make it Simple, Keep it Fair: New Report Provides Roadmap for Streamlining and Improving Income-Driven Repayment for Federal Student Loans

TICAS released a practical roadmap for designing an income-driven repayment (IDR) plan that works better for both students and taxpayers. With rising college costs and student debt, IDR is a critical option for students who have to borrow to afford college. In addition to longstanding bipartisan support for IDR, there is agreement on the need to simplify and improve it, but not on how best to proceed. Some approaches to IDR reform could harm the lowest income borrowers or have unintended consequences for college costs and debt.