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The next loan crisis is coming to a college campus near you. you've probably heard the student loan horror stories. it's only a small portion of borrowers, but it does happen 60, 70, 80, even $100,000 in student debt. we've talked a lot about the problem of the low-wage recovery on this show, but for students with high loan balances and low wages, there is a solution no one is talking about. the income-based repayment program gives borrowers a break, and that break is about to get bigger. here's how it works. those with government-backed student loans can apply. then the government considers t...

>> arthel: so you mentioned the federal loans. of course, we're talk being if the federal government extends that low rate at 3.4% for the students for another year action it will cost taxpayers nearly 6 billion. what's the work around there? >> there are some things that could make this easier. the federal government has very cumbersome and confusing language about repayment options. and students, graduates are not taking advantage of things out there that would make this easier on them. >> arthel: like what, for instance? >> there was an income based repayment program. it's woefully underuti...

But there are different ways that they can negotiate that and here we have graduates that aren't aware of these programs and so they're not utilizing them. >> arthel: where do you go to find out that information? >> so to all of that is available on-line. it is hard to tease out. the jargon is complex and the government does not make this easy for students. >> arthel: but the government is trying to help. we have to go, but the government is trying to help to make college accessible to so many people 'cause without some of these low rate loans, lot of people won't get a shot at college. >> yes...

Metastasizing due to interest buildup with over $100,000 owed, even if he declares bankruptcy he has little hope of paying it all off and building a secure future. current minimum payments leave him nothing to live on or save. do you have any suggestions to help him dig his way out? carmen? >> metastasizing. that's the thing. it can feel like this crazy cancerous growth. here's the thin. you cannot avoid student loans even in your bankruptcy. bankruptcy won't solve the situation. the good news is, we don't know if he has federal loans. if you have federal loans what he needs to apply for is an...