H.R.2465 - Income-Dependent Education Assistance Act of 2007 Sponsor: Thomas Petri / 110th Congress

Title
110th Congress - To allow for the consolidation of Federal student loans into a single direct income-contingent loan repayment program.
Summary
To allow for the consolidation of Federal student loans into a single direct income-contingent loan repayment program. (by CRS)
Status
The bill has been introduced.

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The Free Market and Financial Aid by Ryan Birss, Sep 10, 2008 (9:59pm)

This bill would start a direct income-dependent education assistance loan program. It would allow students to consolidate previous student loans into this new program. The loan repayments would come through the income tax collection system. This repayment model was developed by free-market economist Milton Friedman, “ as the optimal way for all students, no matter their income, to repay their student loans.” Students would repay their loans based on what their income is. This seems like an inovative and interesting way to handle financial aid.

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