Crushed by Student Loans? Help's Coming

College graduates, who have an average of $22,000 in student-loan debt and face a bleak job market, are learning that a degree doesn't always pay for itself.

If you're a recent graduate who's struggling to repay your loans, help is on the way. Starting July 1, the new Income-Based Repayment program can reduce the loan payments of grads with high debt and low incomes to a little as zero. If you owe more than you earn in a year, you will probably qualify.

Income qualifications: The program considers any income earned above 150% of the federal poverty level discretionary. For single people in the continental U.S., that amount is $16,245. It's higher for people with dependents and residents of Alaska and Hawaii. ...