While the tax creditrepayment is currently subject to an income cap, the Republican plan would remove the cap altogether, ostensibly to protect against fraud.
The TransUnion study didn't measure whether borrowers had poor credit scores at the time they took out their loans or if their credit scores dropped because of their repayment problems.
The only problem is that current law precludes the extension of Commodity Credit Corporation agricultural export credits unless there is a reasonable prospect of repayment.
"I'll be pretty much trapped for life by these loans and the credit default, " said Ms. Jones, who is on a repayment plan but still owes Northeastern one semester's tuition.
Investors should get their money back within seven days of the credit union defaulting, and the appointed liquidator will contact each borrower to discuss repayment terms of loans.