Let's Push for Bankruptcy Protection
The House Higher Education Act reauthorization bill is set to go the floor later this week. It includes much of our Private Loan Policy Agenda, but one important piece is still missing: the ability to discharge high-risk, high-cost private loans in bankruptcy like other kinds of consumer debt. An amendment offered by Rep. Danny Davis (D-IL) would add this provision to the bill. Even if you've written before, now is the time to send a strong message to your Member of Congress that private loan borrowers need this basic consumer protection.
For background, see this article from Higher Ed Watch: A Gaping Hole
Financial Aid Pledges: What's the Bottom Line?
As more colleges make new pledges to reduce student debt (including Yale, Bowdoin, Tufts, and more in just the past few weeks), we are continuously updating our list of pledges. Also, for each school with a pledge, we have analyzed the net cost of attendance for students at various income levels ($20,000-$200,000): these numbers are available online in a new sortable chart.