Documents Reckless Lending Leaving Borrowers and Co-Signers with No Way Out
The Institute for College Access & Success, July 2012
The new report released by the federal Consumer Financial Protection Bureau (CFPB) and U.S. Department of Education sheds much-needed light on the private student loan market and the urgent need for reforms.
But Turns Blind Eye to Fraud and Abuse in Career Education Programs
The Institute for College Access & Success, July 2012
On July 18, 2012, the House Labor-HHS-Education appropriations subcommittee voted to fully fund Pell Grants in the upcoming year. This year’s House Appropriations Committee bill is a sharp reversal from last year’s bill and this year’s House budget, both of which drastically cut Pell Grants. But...
The Institute for College Access & Success, June 2012
While it is unfortunate that any cuts were considered necessary, the 2012-13 California budget signed by Governor Jerry Brown avoids the most harmful Cal Grant proposals and creates incentives for all colleges to serve students better. In particular, the Cal Grant performance measures position...
But Congress Must Fully Fund Pell Grants to Keep College Affordable
The Institute for College Access & Success, June 2012
The bipartisan Senate agreement on the student loan interest rate would help contain the cost of borrowing for more than seven million students in the coming school year. The agreement would keep the interest rate on new subsidized Stafford loans at 3.4% for an additional year, welcome news for...
The Institute for College Access & Success, June 2012
The California Assembly and Senate are poised to vote on a budget plan (AB 1476) that prioritizes college affordability for low- and middle-income Californians by rejecting the most harmful proposals to cut the state’s Cal Grant program. Cal Grants are a crucial lifeline for hundreds of thousands...
More Outreach Needed to the Millions of Borrowers in Distress
The Institute for College Access & Success, June 2012
The steps announced by the White House on June 6, 2012, will make it much easier for millions of struggling federal student loan borrowers to keep their payments manageable by enrolling in the Income-Based Repayment (IBR) plan. According to a White House fact sheet, the Presidential Memorandum will...
The Institute for College Access & Success, June 2012
College financial aid offers should be easy to understand and compare, but too often they are not. On June 5, 2012, the White House announced that 10 colleges and university systems have committed to include several crucial and comparable pieces of information about costs, aid, and student outcomes...
Makes College Less Affordable and Student Loans Harder to Repay
The Institute for College Access & Success, March 2012
With students and families across the nation struggling to keep up with college costs and pay off their student loans, the House Budget Committee’s fiscal year 2013 budget would make college even less affordable and student debt harder to repay by slashing funding and eligibility for Pell Grants,...
Consumer Financial Protection Bureau Starts Taking Their Complaints
The Institute For College Access & Success, March 2012
Until today, private student loan borrowers had virtually nowhere to turn for help. Consumers had to navigate a sea of acronyms—including OCC, FDIC, FRB, FTC and FSA—just to know which federal agency had authority over their lender, and even then they were frequently left at the mercy of their...
Fully Funds Pell Grants through 2014-15, Takes Other Key Steps to Limit Need to Borrow and Keep Loan Debt Manageable
The Institute for College Access & Success, February 2012
President Obama’s fiscal year 2013 budget rightly makes college affordability a high priority by taking several key steps to help limit the need to borrow and keep debt manageable for those who need loans to get through school.