Posts Tagged: student loans

New England’s Disadvantaged Populations Struggle the Most with Student Debt Repayment

Regularly reported statistics about high and growing student-loan debt levels, combined with increased rates of delinquency and default, have prompted calls to address the student-debt “crisis.” For New England, with its highly educated population and large higher education industry, student-loan debt is an important economic policy issue. Over the past decade, all six of the New England state...

Warren Recommendation on Student Debt: What Will Work to Help America’s Students?

U.S. Sen. Elizabeth Warren has had concerns about student debt for decades. Her recent solution seeks to redistribute tax revenue from the richest Americans to enable students to refinance their post-graduation indebtedness; this would allow students to benefit from the low interest rates in today’s financial markets. The Massachusetts Democrat is right in noting that the inability of studen...

DC Shuttle: Loan Rate Bill on to WH; Workforce Reauthorization Trudges Ahead; Info From For-Profits Deemed Inconsistent

Student loan interest rate bill sent to president. On Wednesday, the House approved the Bipartisan Student Loan Certainty Act (H.R. 1911) by a vote of 392 to 31. The Senate passed the legislation the previous week and the bill is headed to the president, who has endorsed the legislation, for approval. The bill would modify how interest rates on federal student loans are set, tying interest rates t...

DC Shuttle: Many Progressives Wary of Senate-Approved Loan Rate, GOP Ed Reforms

Senate approves student loan interest rate bill. On Wednesday, the Senate approved the Bipartisan Student Loan Certainty Act by a vote of 81 to 18. House leadership has promised swift approval of the legislation, with a vote in the House likely this week. The bipartisan proposal would tie interest rates on undergraduate subsidized and unsubsidized Stafford loans to the 10-year Treasury note plus 2...

DC Shuttle: SCOTUS Ruling Suggests Colleges Can Continue to Use Diversity as Admissions Tool for Now; Congress May Revisit Loan Rate Debate After Recess; US Spends Most on Ed

Supreme Court affirmative action ruling. On Monday, the Supreme Court released a ruling in the case of Fisher v. University of Texas at Austin. The 7-1 decision was indecisive, remanding the case for reconsideration in the lower courts and directing lower courts to use "strict scrutiny" in affirmative action cases. The result of the ruling is that schools will continue to be able to use diversity ...

DC Shuttle: Teacher Quality Under Scrutiny on Capitol Hill

House committee OKs ESEA reauthorization. On Wednesday, the House Education and the Workforce Committee approved a proposed reauthorization to the Elementary and Secondary Education Act (ESEA) by a vote of 23 to 16. The bill, the Student Success Act (H.R. 5), introduced by Committee Chair John Kline (R-MN), would consolidate most federal funding into one block grant. The proposal would eliminate t...

DC Shuttle: Harkin Proposes Student Accountability Systems

ESEA reauthorization approved by committee. At a Senate Committee on Health, Education, Labor and Pensions (HELP) markup on Tuesday, lawmakers considered the Senate Democrats' proposal, the Strengthening America's Schools Act, to reauthorize the Elementary and Secondary Education Act (ESEA). A bill (S. 1094) introduced by Committee Chair Tom Harkin (D-IA) advanced by a party-line vote of 12-10 des...

DC Shuttle: Still Wrestling with Student Loan Interest; No Child Left Behind

Student loan rates. The Senate rejected two proposals to extend low interest rates on student loans after they expire on July 1. Without legislation, interest rates will double from 3.4% to 6.8% with the expiration of the one-year fix put in place last summer. Movement to proceed with a Senate Democratic bill (S. 953) to extend the current 3.4% fixed interest rate for two additional years was reje...

We’ve Let Student Loans Become a Horror Story … Now Is Time to Face It

For the past 30 years, the student debt issue has been slowly simmering. Government loans quietly edged out grants as the primary form of financial aid, while college tuitions continued their rise. All the while, we piled debt on to students without adequately preparing them to manage it. Now, student debt has come to a boil. An astonishingly high 30% of the 37 million Americans with student loan...

DC Shuttle: Grants Would Connect Schools, Employers, Colleges in STEM; U.S. Report Shows Degrees Rose

STEM education. On Thursday, Rep. Bill Foster (R-IL) introduced the 21st Century STEM Competitive Jobs Act, cosponsored by Representatives Joe Courtney (D-CT), Elizabeth Esty (D-CT), Joe Kennedy (D-MA), Jim Langevin (D-RI), Jim McGovern (D-MA), Anna Eshoo (D-CA), Carolyn Maloney (D-NY), Gloria Negrete McLeod (D-CA), Jared Polis (D-CO), Tim Ryan (D-OH) and Louise Slaughter (D-NY). The bill would su...