Financial Aid

Career College Central summary:

  • The U.S. Department of Education is proposing new eligibility requirements for Parent PLUS loans. Under draft regulatory language sent this week to members of the department’s negotiated rule making panel, parents would generally be barred from taking out PLUS loans if they have any type of debt exceeding $2,085 that is 90 or more days delinquent or that has been sent to a collection agency or charged off. The proposal also changes the...

Career College Central summary:

  • A new idea is making the rounds in education circles. Under the plan, states would allow students to go to college for free then they would pay back a percentage of their salaries after they graduate.
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Career College Central summary:

  • Income-driven repayment provides a reprieve for struggling borrowers trying to pay back their student loan debt. But some policy experts say the federal program offering such plans is not as effective as it could be, and can actually end up costing student borrowers more in the long run.
  • Under the Income-Based Repayment plan, monthly payments for those who enroll are capped at 15 percent of their incomes and after 25 years, any...

Career College Central summary:

  • U.S. Sen. Elizabeth Warren announced on Saturday that she will introduce legislation that would allow existing student-loan borrowers to refinance their debt at interest rates offered to new borrowers in the federal student-loan program. The announcement of the forthcoming legislation, which she said will be released "in the coming weeks," came during Ms. Warren’s keynote address at a research symposium on student loans...

Career College Central summary:

  • Weighing in at more than $1 trillion, student loan debt is now larger than total credit card debt. NPR recently asked young adults about their biggest concerns, and more than two-thirds of respondents mentioned college debt. Many say they have put off marriage or buying a home because of the financial burden they took on as students.
  • William Elliott, director of the Assets and Education Initiative at the University of Kansas, says...