Continuing the administration’s effort to make college more affordable and encourage Americans to invest in their educations, President Obama announced a Student Aid Bill of Rights Tuesday afternoon.
The Student Aid Bill of Rights reads:
III. Every borrower has the right to an affordable repayment plan.
IV. And every borrower has the right to quality customer service, reliable information, and fair treatment, even if they struggle to repay their loans.
According to a release from the White House Press Secretary, President Obama will also sign a Presidential Memorandum that will result in a more effective complaint system through the Department of Education and step-by-step monthly plans for students to more responsibly pay their loans. Additionally, the Administration will be analyzing student debt trends by state and releasing that data.
As of Jan. 2015, Tennessee has an estimated 831,000 student loan borrowers and $22,196,264,000 in outstanding federal student loan debt.
To access the data state by state, visit here.
For more updates on the Student Aid Bill of Rights, follow us at www.mtsusidelines.com, on Facebook at MTSU Sidelines and on Twitter at @Sidelines_News
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