by Ana Radelat, AARP VIVA, Summer 2010|Comments: 0
The health care reform law includes an overhaul of the student loan program that will help many Hispanics. Its most important provisions are:
By academic year 2020–21, Pell Grant awards will be made to an estimated 150,000 additional Hispanic students.
After July 1, 2014, income-based loan repayment programs will be more generous for new borrowers, with loan repayments capped at 10 percent of income (down from 15 percent). If borrowers make timely payments, their balance may be forgiven after 20 years.
Hispanic-Serving Institutions—educational institutions with at least 25 percent Hispanic enrollment—will receive $1 billion in funding over 10 years.