"The US banking structure is screwed up in many ways, but policy-wise, nothing is more destructive than FDIC insurance for banks that do investment banking and trading as well as commercial lending. ... But as I’ve been looking into the $1 trillion student loan bubble, I’ve found another perverse effect of our misaligned banking system," Rana Foroohar writes in a Time opinion piece.
"The fees investors pay in their Section 529 college savings plans may have hit bottom in certain states," Investment News reports.
"President Obama on Friday will lay out more details about the education proposals in his budget and also discuss his administration’s efforts to get more students to apply for federal student aid," Inside Higher Ed reports.
"A report released on Thursday by the liberal-leaning group Demos is just the latest to detail the growing cost of tuition at public colleges, along with the shrinking amount of money that state governments provide to those institutions," The Chronicle of Higher Education's Bottom Line reports.
"When representatives of Tennessee’s for-profit higher-education sector walked into U.S. Rep. Phil Roe’s office on Capitol Hill on Wednesday, they brought with them one agenda item," The Chronicle of Higher Education reports.
"Students nationwide are graduating college on average, up to $30,000 in debt and now new Illinois legislation could help offer interest-free loans," WIFR reports.
"A network of community lenders is committing to lend $1 billion in support of President Obama’s 'My Brother’s Keeper' initiative that aims to boost the life chances of young African and Hispanic men," The Washington Post reports.
"[T]he Obama administration’s Deferred Action program has opened up possibilities for me that were unimaginable before, but my future is still in limbo, and I’m still separated from my family since the educational opportunities for undocumented students in other states are not the same as in California," US Annenberg student Miguel Molina writes in an opinion piece for Intersections South LA.
"The most contentious data that might find their way into the Obama administration’s college-ratings plan are conspicuously missing from the Education Department’s current data-collection tools: postgraduate wages," The Chronicle of Higher Education's Data Points reports.
Many organizations have joined forces to launch a new “multi-year campaign” on student debt, financial aid, and college affordability. The campaign, Higher Ed Not Debt, launched Thursday morning with an event in Washington, D.C. featuring Sen. Elizabeth Warren (D-MA), and progressed throughout the day with a “Twitter Town Hall” (#HigherEdNotDebt) to mobilize support and spread information.
"Ohio's college students are finding it increasingly difficult to pay for their education, and with that comes skyrocketing student loan debt. It's a vicious cycle that some education groups are trying to break," NBC4 reports.
We want to hear from you! Tell us about what you view as some of the most unnecessarily burdensome requirements of administering financial aid. Feedback will be used in NASFAA’s ongoing efforts to eliminate duplicative and burdensome regulations with the U.S. Congress, Administration, and other higher education partners. Take a moment to leave a comment in the comments section, and scroll through to see what other NASFAA members have to say.
"[S]tate lawmakers across the country are now looking for ways to address the problem of crushing student loans," MainStreet.com reports.
"A new survey of the nation’s college freshmen has found that the percentage attending their first-choice school has reached its lowest level in almost four decades, as cost and the availability of financial aid have come to play an influential role in decisions of where to enroll," The Associated Press reports.
Regional association members voted on the biggest challenges for financial aid administrators and the students they serve. Read on to find out the top answers and to see if you agree.