Student Debt for Newly Minted Bachelor's Degrees Continues to Rise
Final Gainful Employment Rule: Important but Inadequate
TICAS' National Policy Agenda to Reduce the Burden of Student Debt
Support Our Work: #GivingTuesday is Coming Soon
TICAS is Hiring a Communications Manager (Oakland, CA)
Student Debt & the Class of 2013, our 9th annual report tracking student debt at graduation, has been in news stories around the country since its release last week. We found 7 in 10 graduating seniors at public and private nonprofit colleges had student loans. Nationally, these borrowers owed an average of $28,400 in federal and private loans combined, up 2% compared to their peers in 2012. In the 6 highest debt states, average debt topped $30,000; at nearly 1 in 5 colleges, debt levels increased 10% or more.
Check out the report, press release, and interactive map with debt
levels for every state and more than 1,000 colleges nationwide at projectonstudentdebt.org/state_by_state-data.php.
The U.S. Department of Education took an important step by issuing a final "gainful employment" regulation last month despite relentless opposition from the for-profit college industry, which has already sued to try to block the rule's implementation. The rule applies to career education programs at public, nonprofit, and for-profit colleges. While many of you joined TICAS and thousands of others in calling for a strong final rule, this one falls far short. Among other things, it lets programs where most students borrow but few graduate keep using taxpayer dollars to bury students in debt they can't repay, so long as they limit the debt of the few students who complete. As we said in our statement, "This inadequate final rule makes it all the more urgent that the Obama Administration immediately take additional steps to enforce current laws to prevent the well-documented waste, fraud, and abuse by unscrupulous for-profit colleges."
Since 2005, TICAS and our Project on Student Debt have worked to reduce the risks and burdens of student debt. We've helped create and improve income-based repayment plans to keep federal loan payments manageable; strengthen Pell Grants, which reduce the need to borrow; and simplify the financial aid application process. But there's much more work to be done, and our updated national policy agenda summarizes some of the most important next steps.
Read our policy agenda at projectonstudentdebt.org/policyagenda
TICAS is excited to participate in #GivingTuesday on December 2. Help make a difference for low-income students and struggling borrowers by giving to TICAS.
For more information, visit ticas.org/givingtuesday.
We're seeking a policy-oriented communications professional with a passion for increasing college access and success. The Communications Manager will work closely with staff across the organization. Core responsibilities include managing media relations, multiple web sites, publications, and social media; keeping colleagues, key constituencies, and thousands of subscribers informed and engaged; editing and proofreading a wide range of content; and supervising outside contractors. This position will report to the President and is based in Oakland, CA.
See the full job posting at /jobs.vp.html and share it with your network!