Democratizing Higher Education: Defending and Extending Income-Based Repayment Programs

Abstract

This article addresses many critiques of income-based repayment programs for student loan debt. These programs are not helping many of the students they were designed to aid. Their terms are too harsh, especially given repeated failures by relevant authorities to fully account for the benefits of higher education. If reformers fail to substantially improve the terms and accessibility of IBR programs, they will lose popularity and credibility.

Keywords: IBR, ICR, PAYE, REPAYE, income-based repayment, income contingent repayment, higher education, higher education finance, financialization, finance, loans, credit, federal credit programs