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43 Percent of Defaulters Attended For-Profit Institutions
The Project on Student Debt, September 2010
The U.S. Department of Education released new data showing that the national “cohort default rate” on federal student loans is 7.0 percent for borrowers who entered repayment in 2008, up from 6.7 percent last year. The default rate at for-profit colleges is highest at 11.6 percent – almost double...
Website Launched to Educate Public and Send Comments: www.ProtectStudentsandTaxpayers.org
The Institute for College Access & Success, August 2010
Nearly 30 organizations advocating for students, consumers, civil rights, and college access are calling for stronger rules for career education programs that over-charge and under-deliver. The groups praise the current Dept. of Education proposal on "gainful employment" as a major step in the...
Proposed Regulatory Changes Could Make Problem Worse
The Institute for College Access & Success, July 2010
A new report by The Institute for College Access...
The Institute for College Access & Success, July 2010
On July 23 the Obama Administration proposed a definition for "gainful employment" to protect students and taxpayers from getting ripped off by career education programs that over-promise and under-deliver, which will be finalized in November and go into effect 2011.
The Project on Student Debt, June 2010
House and Senate conferees reached an agreement on historic financial reforms, including creating a much-needed Consumer Financial Protection Bureau (CFPB) with authority over risky private student loans and other financial products.
Improvements to Income-Based Repayment, Lower Interest Rates, 100% Direct Loans, and More
The Project on Student Debt, June 2010
July 1 will bring several significant changes to federal student loans that benefit new and current borrowers. Some interest rates will decrease, and updated rules for Income-Based Repayment (IBR) will bring fair treatment to married borrowers and those who owe more than when they finished school...
Final Gainful Employment Definition Needed by November 1
The Project on Student Debt, June 2010
Statement of Pauline Abernathy, vice president of the Institute for College Access & Success, on the Department of Education's proposed rules on the "program integrity" of Title IV financial aid...
The Project on Student Debt, May 2010
Statement from Pauline Abernathy, vice president of the Institute for College Access & Success (home of the Project on Student Debt) on the U.S. Senate's passage of the historic financial reform legislation, which will help protect consumers from dangerous private student loans. ...
Broad Coalition Calls for Amendments to Cover all Private Student Loans
The Project on Student Debt, May 2010
In a letter sent today, nearly 40 organizations that advocate for students, civil rights, higher education, and consumers called on U.S. senators to close worrisome gaps in the Senate financial reform bill. As currently drafted, the bill does not ensure that the new Consumer Financial Protection...
Hearing Today on New Legislation to Address the Issue
The Project on Student Debt, April 2010
Statement from Lauren Asher on private student loans and bankruptcy. Senator Dick Durbin and Representative Steve Cohen introduced legislation (S. 3219 and H.R. 5043) to treat private student loans like credit cards and other similar consumer debt, rather than like criminal fines and unpaid child...

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