I read the post about the new program, Pay As You Earn. If I have a balance on a loan from 2001, does that mean that I do not qualify for the program? I have student loans from 2008-2012 for law school and would love to take advantage of this new program.

thanks!
Rob

None of us who owed a balance on a federal loan on Oct 1, 2007 may choose PAYE.  Oh, well.

I have a question about the Pay As You Earn program. Will students who enroll in this specific repayment plan be “grandfathered” into it for the remainder of their repayment process, no matter what?

I ask because I graduate from law school in May of 2013, which means I will be required to enter repayment of my student loans in November of 2013. I know that President Obama, who implemented the plan, will only be in office until 2016 when his second term will end. After that, if we elected a new President who decided to “cancel” or do away with the Pay As You Earn program, would I still be able to remain in that program, or would I be forced to enroll in another loan repayment program?

I sincerely appreciate your time and help in this matter, and I look forward to your response.