Posts Tagged: student loans

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 lo...

New Directions for Higher Education: Q&A with Kantrowitz on Scholarships and Debt

In April, NEJHE launched its New Directions for Higher Education series to examine emerging issues, trends and ideas that have an impact on higher education policies, programs and practices. The first installment of the series featured Philip DiSalvio, dean of the College of Advancing & Professional Studies at the University of Massachusetts Boston, interviewing Anthony Bryk, president of t...

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...

DC Shuttle: Congress Hears Ed Regs Are “Costly, Vague, Complicated or Unnecessary” … Proposes More

Student loan interest rates. On Thursday, the House Education and the Workforce Committee approved legislation (H.R. 1911) by a vote of 24-13 that would tie the interest rate on federal student loans to market rates. The interest rates on Stafford Loans are set to double on July 1 to 6.8%. The bill, the Smarter Solutions for Students Act, would set the interest rate at the 10-year Treasury note ra...

DC Shuttle: Congress Scrutinizes Colleges’ Unrelated Biz Income; Takes Interest in Loan Rates

Rewriting K-12 law. On Tuesday, the House Committee on Education and the Workforce held a hearing on state and local accountability systems for education. Chair John Kline (R-MN) outlined four Republican priorities for rewriting the nation’s K-12 education law, known as the Elementary and Secondary Education Act (ESEA) or No Child Left Behind: restore local control, reduce the federal footpr...

Pew Words About Student Debt

Nearly one in five American households maintains student loan debt, up from 15% in 2007 and 10% in 1989, according to a recent report from the Pew Research Center.The report also states that rates of student loan debt increased in every demographic group and economic category, and is particularly acute in the bottom and top fifth of income earners.Heightened national awareness of the increase in s...

DC Shuttle: 10 Colleges Commit to White House Plan to Give Students Clearer Price Info; Rise in Student Loan Interest Rates Looming

On Tuesday, administration officials announced a White House partnership with 10 colleges and universities to give students better information on the cost of higher education and financial aid options. The schools, which include the University of Massachusetts System, have voluntarily committed to adopting an information sheet for incoming students to help them understand the costs of college and ...

DC Shuttle: How to Pay for Student Loan Interest Rate Extension

On Tuesday, Senate Republicans blocked a motion to proceed on the Senate Democrats' bill (S. 2343) to extend current interest rates on federal student loans for one year. With a vote of 52-45, the cloture motion failed to garner the needed 60 votes to proceed. Republicans objected to Majority Leader Harry Reid's (D-NV) refusal to allow a vote on the Republicans' alternative legislation (S. 2366). ...

For Students, These Are Borrowed Times

It was quite a week for student financial aid news.On the very day that a Republican filibuster halted a Democrat-backed student loan bill that would have extended the 3.4% interest rates on subsidized Stafford loans, a key administration official went to Boston to pitch the president's goals on higher ed funding and a national think tank delivered recommendations on refocusing aid.On th...

DC Shuttle: To Hold Down Student Loan Interest Rates, Congress Weighs Cuts to Health Law, Closing Tax Benefits for Oil and Gas Cos.

On Wednesday, Senate Democrats introduced a bill (S. 2343) to extend the current interest rate on subsidized student loans for one year beyond the July 1 expiration date. The Congressional Budget Office (CBO) estimated the cost of a one-year extension to be $6 billion, which the bill would pay for by ending a tax benefit for S corporations. Under the bill, shareholders of these corporations w...