You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Student loan bill would end debt collectors’ role

Congress will consider overhauling debt collection in the $100 billion-a-year US student loan program, replacing it with automatic withdrawals from borrowers’ paychecks tied to their income — a system­ used in Britain.

A bill that Representative Tom Petri, Republican of Wisconsin, plans to introduce would require employers to withhold payments from wages in the same way they do taxes. Payments would be capped at 15 percent of the borrower’s income, after basic living expenses.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week