Report: Wealthy students taking out larger student loans in recent years
INSIDE HIGHER ED — A new report found that wealthy students borrowed more frequently and borrowed larger sums in recent years, outpacing borrowing increases among less well-off students.
Read More about Report: Wealthy students taking out larger student loans in recent yearsCapital Law students shares advice on balancing law school and careers
CAPITAL UNIVERSITY LAW SCHOOL — Juggling law school, a full-time job and a family has its challenges, but for several Capital University Law School students and recent graduates, it’s been a fulfilling journey. Here they share their advice on prioritizing obligations, striking a balance and pursuing lifelong dreams.
Read More about Capital Law students shares advice on balancing law school and careersFTC wins case against student debt-relief companies
INSIDE HIGHER ED — FTC wins restraining order against group it alleges portrayed itself as affiliated with the Department of Education before charging borrowers for services it misrepresented.
Read More about FTC wins case against student debt-relief companiesPew study: One in four U.S. student loan borrowers default within five years
MSN MONEY — A quarter of borrowers who take out student loans end up defaulting within five years, while many of the people who pause or defer payments due to hardships end up paying more than they originally would’ve owed, according to a study from the Pew Charitable Trusts.
Read More about Pew study: One in four U.S. student loan borrowers default within five yearsConsumer Financial Protection Bureau director testifies on Public Service Loan Forgiveness issues
WGBH — An NPR story this week revealed that the Consumer Financial Protection Bureau attempted such examinations but was thwarted by the Trump administration’s Department of Education. At issue is the Public Service Loan Forgiveness Program, which aims to help police, military service members, teachers, people who work at nonprofits and others. If they make…
Read More about Consumer Financial Protection Bureau director testifies on Public Service Loan Forgiveness issuesU.S. Department of Education pilots debit card for student expenses
INSIDE HIGHER ED — The U.S. Department of Education is poised to begin a limited experiment with a prepaid student aid card, which would operate like a debit card for aid. Under the program, students would be able to access the funds without paying fees, and the feds would be able to learn more about…
Read More about U.S. Department of Education pilots debit card for student expensesHouse Democrats investigate U.S. Department of Education over aid to for-profit colleges
INSIDE HIGHER ED — Representative Bobby Scott, the House education committee chairman, suggested Tuesday in a letter to Education Secretary Betsy DeVos that her department had illegally awarded federal aid to two ineligible for-profit college programs operated by the defunct Dream Center. Scott, a Virginia Democrat, also threatened to issue subpoenas if the Trump administration doesn’t…
Read More about House Democrats investigate U.S. Department of Education over aid to for-profit collegesU.S. House Democrats unveil Higher Education Act overhaul bill
U.S. NEWS — House Democrats offered their vision for overhauling the federal higher education law, introducing Tuesday a rewrite that would boost federal funding for low-income students, simplify how borrowers repay federal student loans, incentivize states to make community colleges tuition-free and reestablish Obama-era regulations on campus sexual assault and for-profit colleges. Committee aides said the proposal…
Read More about U.S. House Democrats unveil Higher Education Act overhaul billConsumer Financial Protection Bureau efforts to fix student loan forgiveness program blocked by Trump Administration
NPR — Starting early last year, the nation’s most powerful consumer protection agency sent examiners into companies that run student loan call centers to try to fix a troubled loan forgiveness program. But the Department of Education blocked the bureau from getting the information it needed, NPR has learned. The Public Service Loan Forgiveness Program is…
Read More about Consumer Financial Protection Bureau efforts to fix student loan forgiveness program blocked by Trump AdministrationIncome-driven student loan repayment programs are not living up to their promise
YAHOO NEWS — The idea is simple: Borrowers make payments based on how much money they earn. But these so-called income-driven repayment plans are mind-numbingly complicated. There are four different versions to sort through, all with slightly different rules. They can be tricky to get into and easy to fall out of, yet they’re becoming increasingly…
Read More about Income-driven student loan repayment programs are not living up to their promise