Trump Administration Rejects Financial Relief for Nearly All Defrauded Students

WHEN THE EDUCATION Department dispatches the first round of notifications to some 17,000 student loan borrowers who applied to have their debt forgiven after being defrauded by for-profit colleges, 95% of them will be rejected. Documents obtained by U.S. News show a breakdown of 17,192 letters that includes more than 16,340 labeled as “ineligible.” Those labeled ineligible include more than 6,314 letters going to borrowers who enrolled in Corinthian Colleges, the now-defunct for-profit giant that misrepresented Read More

Secretary of Education Betsy DeVos Calls on National Education Association to Drop Lawsuit that Puts Financial Aid for Students in Jeopardy

WASHINGTON—U.S.Secretary of Education Betsy DeVos called on the National Education Association (NEA) today to drop its politically-motivated lawsuit and stop standing in the way of students working to complete their post secondary education program. The NEA recently sued the department over its delay in implementing Obama-era rules that govern state standards for online education. The rules require, among other things, that all institutions providing distance education to students in another state document that the state Read More

Half of Endowment Spending Supports Financial Aid

AMID A NATIONAL OUTCRY for higher education institutions to do more to increase access for poor students – especially elite schools with billion-dollar endowments – new data show that nearly half of all endowment spending by colleges and universities supports financial aid. “This was the largest single area of endowment spending,” Susan Whealler Johnston, president and CEO of the National Association of College and University Business Officers, said this week in a call with reporters. “This Read More

Education Department Posts Quarterly Student Aid Data Updates and Releases Preliminary Report on the Federal Student Aid Feedback System

Today, the U.S. Department of Education’s Federal Student Aid (FSA) office posted a series of updates to its data center, a collection of key performance data about the federal student aid portfolio. The updates, which continue the Department’s commitment to greater transparency on the federal student loan portfolio and other key financial aid metrics, include three new federally managed portfolio reports by loan status, repayment plan, and delinquency status, and a report about the Teacher Read More

U.S. Department of Education Announces Two Final Regulations to Protect Students and Help Borrowers

As part of the Obama Administration’s commitment to helping students and borrowers, today, the Department of Education is announcing the publication of two regulatory packages that will protect students in the rapidly-expanding college debit and prepaid card marketplace and add a new income-based repayment plan so more borrowers can limit the amount of their payments to 10 percent of their income. “Since day one, protecting students and borrowers has been a key priority for the Read More

Obama Administration Expands Efforts to Help Americans Manage Student Loan Debt

Continuing its work to make student loan debt more manageable, the U.S. Department of Education today announced its plans to provide an additional six million federal loan borrowers access to student loan payments capped at 10 percent of income. Last year, as part of his year of action to expand opportunity for all Americans, President Obama issued a Presidential Memorandum directing the Department to propose regulations to ease the burden of student loan debt by expanding repayment Read More

College Students to Benefit from Proposed Regulations Targeting Troubling Practices in Rapidly Expanding College Debit, Prepaid Card Marketplace

The U.S. Department of Education announced proposed regulations, available for public inspection today in the Federal Register, aimed at protecting as many as 9 million college students receiving $25 billion in federal student aid by providing tougher standards and greater transparency surrounding agreements between colleges and companies in the rapidly expanding college debit and prepaid marketplace. The proposed regulations are intended to safeguard students from excess fees and provide students the freedom to choose how to Read More

U.S. Departments of Education and Treasury Continue Raising Awareness of Income-Driven Repayment Options for Federal Student Loans

The U.S. Treasury Department and the U.S. Department of Education will continue working with tax preparers during the 2015 tax filing season to increase federal student loan borrowers’ awareness of income-driven repayment plans. This year, two of the largest tax preparers in the country, H&R Block and Intuit, Inc., are using their online tax preparation tools to share information about repayment options, including the President’s Pay As You Earn (PAYE) plan and the Department of Education’s Repayment Estimator with Read More

Parents: Tips To Help Your Child Complete the FAFSA

If you’re a parent of a college-bound child, the financial aid process can seem a bit overwhelming.  Who’s considered the parent? Who do you include in household size?  How do assets and tax filing fit into the process? Does this have to be done every year?  Here are some common questions that parents have when helping their children prepare for and pay for college or career school:  Why does my child need to provide my Read More

Avoid These 4 Mistakes I Made With My Student Loans

It’s been tough for me to come to terms with, but, unfortunately for me, I am not in college anymore. In fact, this spring marked three years since I graduated from college and went into repayment on my student loans. I know, not the most exciting thing in the world, but important. So while I don’t claim to be a student loan expert, I have learned a lot of lessons along the way, mostly through Read More