Senate plan could help grads pay off student loans

Stefanie Botelho's picture
Friday, August 8, 2014

For many students returning to college this fall, there’s a major nagging issue: the mountain of debt they’ll face after graduation. Official Washington, from the White House to Capitol Hill, has been struggling to find ways to make college more affordable. One bipartisan solution offered this summer by Sens. Marco Rubio (R-Fla.) and Mark Warner (D-Va.) is designed to streamline the repayment and management of federal student loans.

For instance, student borrowers would be enrolled in automatic payroll deductions each month, with 10 percent of a graduate’s paycheck able to be deducted with a $10,000 exemption annually.

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