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College Cost Reduction and Access Act

The Federal College Cost Reduction and Access Act (CCRAA) of 2007 established two programs to assist students with meeting their student loan repayment obligations.

  • Income-Based Repayment (IBR).  If you qualify for IBR, your required monthly payment will be capped at an amount that is intended to be affordable based on your income and family size, and will be less than what you would have to pay under a 10-year Standard Repayment Plan.
  • Public Service Loan Forgiveness (PSLF):   The Program forgives the remaining balance of federal loans after the borrower has made 120 qualifying monthly payments while employed full-time by a public service organization.

For information about the CCRAA, contact Patina Janisko, Director of Financial Aid.