Fair Loan Payment Proposal is Now Law

September 29, 2007

By strong bipartisan votes, the Senate and House of Representatives passed the College Cost Reduction and Access Act in early September. On September 27, President Bush signed the legislation. Public Law 110-84 includes a new Income Based Repayment plan modeled on our Plan for Fair Loan Payments. Along with the substantial increase in Pell Grants, this is the most significant...


California Budget Gridlock Jeopardizes Student Aid

August 16, 2007

The budget stalemate in Sacramento is about to have serious repercussions for new and returning college students in California. Approximately 266,000 students are expected to receive Cal Grants to help cover fees, books, dorm costs and other expenses, but the agency that administers the Cal Grant will not have the funds for the scholarships until--unless--the state budget is...


Expert Praises Committee Action to Improve Consumer Protections for Private Student Loans, Urges Additional Provisions

August 2, 2007

Shireman comments on the Senate Banking Committee's passage of a bill that would improve disclosures and reduce confusion about private student loans. While this bill is a step in the right direction, Shireman urges Senators to include a provision making private loans dischargeable in bankruptcy as the bill moves forward.


Changing the Conversation

July 31, 2007

Private or alternative loans comprise a growing share of student loans, despite being more costly than federal student loans. Students and parents are often unaware of the differences between private and federal loans, and many borrowers don’t know which they have until they enter repayment. Unfortunately, despite required informational sessions about federal loans, the majority...