college cost reduction and access act
Then you may want to take a look at the College Cost Reduction and Access Act passed in 2007.The act provides for a cap on monthly loan payments according to income as well as student loan forgiveness after designated periods of time. This July 1st, the College Cost Reduction and Access Act (CCRAA) of 2007 will take effect and includes provisions to make undergraduate and graduate education more affordable for aspiring social-impact professionals. Under the College Cost Reduction and Access Act of '07, the rate will continue to drop until 2011-2012, when it will reach an all-time low of 3.4%. Unfortunately, the lower rate only applies to loans taken out — or consolidated — in