(From TheAtlantic.com):

The number of student-loan holders enrolled in income-based repayment plans has jumped by more than 50 percent since last year.

By Mikhail Zinshteyn

A government program that allows student loan borrowers to significantly reduce their monthly payments is growing in popularity—and increasingly eating into federal coffers.

The U.S. Department of Education is sticking to the rosier news in a brief report released this week that shows the number of U.S. student-loan holders enrolled in income-based repayment plans has jumped by more than 50 percent since last year. According to the government, 3.9 million borrowers have signed up for income-based repayment plans as of this June. CONTINUE READING HERE