TAMPA, FL -- Some college graduates could soon see their student loan payments go down.
Starting July 1, the government will launch a new income based repayment plan. It calculates your payments based on how much you can afford each month. The downside is you will pay more interest over the life of the loan.
You can calculate your eligibility here
. The loans can be new or old, and for any type of education, including undergraduate, graduate or professional job training.
Copyright 2009 The E.W. Scripps Co. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.