REPORT: Class of 2018 Four-Year Graduates’ Average Student Debt Is $29,200

Statement of James Kvaal on Senate's Proposed $1.3B Cut to Pell Grant Reserve.

Turning the tide on tuition and student debt will require significant new investments in public colleges and universities. But more money alone is not enough. To close college opportunity gaps, we need to direct more funding to the colleges serving the neediest students.

Claiming to protect students and hold colleges accountable, on Friday the Department of Education finalized its so-called borrower defense rule. The rule allows students to seek to cancel student loans connected to fraud and other illegal activity by their colleges.

The Trump Administration has neglected 180,000 borrowers seeking relief from illegal acts by their colleges, many for years. If that wasn’t clear enough evidence that they are not an ally to students, its final borrower defense rule published today is resounding proof.

State budgets consistently shortchange underrepresented college students. While college plays a crucial role in providing opportunities for economic mobility, inequities in degree attainment by race persist. Those gaps are exacerbated by state funding patterns that funnel the least money to schools serving the highest proportions of Black, Latino, and other students of color.

Today’s announcement from the California Department of Consumer Affairs is reassuring news for tens of thousands of Californians whose federal financial aid eligibility was jeopardized following the U.S. Department of Education’s notice last week. We commend California leaders for moving swiftly to remedy the situation for affected students and schools.