plan, including Income Based Repayment (IBR) and Income Contingent Repayment (ICR), and set up special handling for those borrowers who have recurring repayment problems.
Encourage the Department of Education to utilize all necessary federal and institutional sources to maintain contact with borrowers during the six-month post-graduation grace period so that they can successfully enter repayment. According to department data, lack of up-to-date contact information is the major cause of loan default.
Encourage Congressional oversight of loan servicing to identify any legislative changes needed to promote the use of income-related repayments and avoid the use of excessive forbearance, which greatly increases student interest charges.
Require that any federal Stafford Guaranteed Loan that is past due for a specified period of time be immediately assigned by the lender to the Department of Education. The department should immediately inform the borrower of the full range of repayment options and assist in selecting an option most appropriate to the financial circumstances of the borrower.
Support a change in federal student loan collection policy to collect only what is currently due and manageable instead of adhering to a practice of declaring the entire loan to be due and payable. Such a change in policy would allow borrowers to cure their past-due status and mitigate the accumulation of excessive collection charges and fees when collection agencies are able to assess penalty fees based on the entire loan rather than just the payments due to date.
Advocate for new federal capital, continued institutional discretion to determine student awards based on need, and maintenance of at least current institutional award level in any Perkins Loan Program restructuring.
Fully reimburse institutions for loan cancellations related to service-related activity in the military, teaching, public service, law enforcement, corrections and firefighting.
第24页： x1 = 25 27
f(x) = 1/2x2+2x+1