Double your impact for students and borrowers: make your gift today!
Thanks to your engagement and support, in 2016 TICAS successfully stood up for students and borrowers, especially those with the greatest need. Here's how we made change together:
- TICAS played a central role in scuttling a marketing deal between Amazon.com and Wells Fargo that was bad news for student borrowers nationwide. It promoted a small discount to Amazon's student customers while burying the high costs of Wells Fargo's private education loans: up to more than triple the interest rate on federal loans for undergraduates.
- Over the summer more than 56,000 people, including thousands of TICAS subscribers, and more than 50 organizations joined us in calling forrelief for defrauded students and stronger protections from unscrupulous schools.
- In the fall, the U.S. Department of Education announced new rules and actions that included some huge wins for students and taxpayers:
- Making it much harder for schools to hide fraud and evade accountability by using pre-dispute arbitration clauses and class-action waivers, as Corinthian Colleges and ITT Technical Institutes did.
- Requiring the riskiest schools to warn students and put money aside to help cover the costs if their students' loans are discharged.
- Restoring Pell Grant eligibility for students whose schools closed before they could finish their studies -- including more than 28,000 from Corinthian Colleges and ITT Technical Institutes.
- Since October, students and families have been able to file the FAFSA earlier and more easily, thanks to practical fixes that TICAS championed.
But there's so much more work to be done. While the default rate has declined for new federal loan borrowers, the number of borrowers in default has reached a record 8.2 million. The federal Pell Grant, which helps make college possible for almost 8 million students, covers the smallest share of college costs in over 40 years. And important protections that you helped win for students and taxpayers will continue to be challenged by powerful interests.
We're in this for the long-haul, and we need your help.
Donate now and DOUBLE your impact! The first $1000 we receive will be matched dollar-for-dollar. Visit ticas.org/holidaygiving to make your annual gift for 2016 today.
Thank you for speaking out when it matters and giving when you can.