"More than 60 percent of college graduates borrow to pay for their four-year degrees, and on average, the debt totals more than $29,000 by the time graduation day rolls around," the New America Foundation's Ed Central reports.
"When Gov. Bill Haslam announced the creation of the Tennessee Promise scholarship program, the state anticipated 20,000 students might apply," The Tennessean reports.
The Department of Education is expanding the Pay As You Earn Program, but some say it’s not enough.
"The fall-out from the financial crisis is still being felt in the lending industry, where tight loan standards and empty borrower pockets have led to some necessary innovation in recent years," MainStreet reports.
While financial aid can play a role in a student’s success, other behavioral factors can play a significant a role in enrollment and completion, ideas42 said in a webinar on Thursday. The webinar highlighted ongoing work the group is doing to address the low national completion rate by examining enrollment and retention at two schools – LaGuardia Community College in New York and San Francisco State University.
"In a surprising and somewhat embarrassing situation, administrators of California's new Middle Class Scholarship program last month awarded only about half the $107 million available," the Los Angeles Times reports.
"A new Pew Research Center study shows that from 2010 to 2012, the percentage of middle- and upper-middle-income students who borrowed money for college doubled, and they’re borrowing twice as much money as their peers did a generation ago," Take Part reports. "'The bottom line is more and more people are borrowing in all income brackets,' [NASFAA's Megan] McClean states."
"[R]ather than simply bring back the [Ability to Benefit] program as it previously existed, lawmakers should limit the program to schools that have a proven track record of serving their students well to prevent the type of abuses that have hounded it in the past," EdCentral reports.
NASFAA policy staff provide an in-depth look at final rules published yesterday by the Department of Education (ED) that modify the definition of “adverse credit history” in the PLUS Loan program and require loan counseling for PLUS borrowers with adverse credit who have extenuating circumstances or who have an endorser.
"Recently, [Mark] Cuban opined about student debt at Inc.’s GrowCo Conference. Against the backdrop of rising student loan default, he made a compelling case that, in the interest of economic growth, the federal government should set a per-student ceiling on the amount of student loan money it gives out every year," James Marshall Crotty writes for Forbes.
Attendees at next year’s NASFAA’s Leadership & Legislative Conference & Expo will have their choice of two leadership pathways allowing them to receive a more targeted experience than at previous conferences. The 2015 Leadership & Legislative Conference & Expo, taking place March 1-3, 2015, in Washington, D.C., includes two days of sessions on various leadership and professional development topics, followed by a day on Capitol Hill where participants can advocate directly with their congressional delegation on behalf of their students.
"Federal loan options for health profession students include health professions student loans, nursing student loans, primary care loans and loans for disadvantaged students," U.S. News & World Report's Student Loan Ranger blog reports.
"The U.S. Department of Education Wednesday announced additional changes to the Parent PLUS Loan requirements, which have been the source of much controversy recently," Diverse Issues in Higher Education reports.
"Virginia higher education officials are making it easier for students to take online classes and for universities to offer them," The Associated Press reports.
"Fortunately, colleges in recent years have become more transparent when it comes to letting prospective students know how much their education will cost," Consumer Affairs reports.