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I think this is a good step to a more efficient system, but it could be better. I mentioned to a friend in Australia about needing to get a deferment for my loan when I was laid off and she was absolutely blown away. Apparently in Australia your student loan payments come directly out of your paycheck and are based on your income, basically like a tax. If you aren't working you aren't paying, no need for paperwork or phone calls. It sounds a lot more efficient to me than our current system.
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