The income based repayment plans are also retroactively available to all Federal borrowers.
It's not actually as big of a problem as it sounds.
Just imagine the US real estate bubble a decade ago if housing loans worked in such a fashion! The perverse incentives alone are enough to cause severe harm.
$1.3 trillion in extra government debt isn't a large enough to really cause problems.
Man, it is funny that people get mad at Bootcamps like app academy for charging 20% of your income for a single year....
It ended up costing 1/4 of my 4 yr degree. I admit, that it's not a magic pill like their marketing will have you believe. That's my one gripe, with how they portray themselves. You have to be motivated and driven to succeed and realistically, not everyone can handle the complexity and speed at which they teach.
They really give you the bare minimum but it's an amazing little boost. It's up to you build yourself up from there.
If you don't get a decent job, you'll basically be paying almost nothing for 20 years. If you get a great job, you'll pay it off way before then.