School loan debt now outpaces credit card debt. So naturally how to pay it down is on a lot of young people's minds. Well, there is a little known program that too few students access.
In Georgia the average student leaves college with about $25,000 in student loans. That's tough when you're on your own, looking for a place to live and making an entry level salary. And naturally, you want to get rid of that debt as quickly as possible.
The FOX 5 I-Team talked with a student who repaid $976 each month for student loan debt. He checked out a government repayment program that the Department of Education says only 14 percent of students access and reduced his monthly payment to $105.
Check out this government repayment option: https://studentaid.ed.gov/repay-loans
To some degree capping repayment based on salary has always been available, but the Obama administration has expanded the options.