"Targeting a precious $6 billion right now to borrowers who have jobs and incomes high enough to cover the higher rate seems out of touch, especially when the Pell Grant program needs approximately that much next year to stave off a massive cut to the aid it provides," writes Jason Delisle, director of the Federal Education Budget Project at the New America Foundation in Washington, D.C. Stafford borrowers already can postpone payments if they fail to find work or earn too little, he notes.

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