Financial Aid

Career College Central Summary:

  • [The Senate Appropriations Committee] approved a provision, pushed by Senator Dick Durbin of Illinois, a Democrat, that would place a new restriction on some of the federal military benefits that are used at for-profit colleges. Durbin's language would change the so-called "90/10 rule" that caps for-profit colleges' receipt of grants and loans administered by the Education Department at 90 percent of their annual revenue....

Career College Central Summary:

  • The first bill, proposed in June by Sen. Lamar Alexander, the highest-ranking Senate Republican on education, and Sen. Michael Bennet, a Colorado Democrat, would simplify the Fafsa, the application all students must fill out to receive federal financial aid. The bill would slim the Fafsa from a daunting 108 questions to two: How much did your family earn two years ago, and how big is your family?
  • The second bill, from Sen. Marco...

Career College Central Summary: 

  • Nearly one million community college students in 30 states – 8.5 percent of community college students nationally – were enrolled in schools that blocked all of their students’ access to federal student loans. 
  • In 11 states, more than 10 percent of community college students lacked access to federal loans, and in seven states more than 20 percent lacked access. 
  • Community college...

Career College Central Summary:

  • An audit criticizes how the U.S. Department of Education handles student loan borrower complaints against private collection agencies.
  • The report, by the department’s Office of Inspector General, faults the Federal Student Aid (FSA) division for failing to monitor the complaints effectively, make sure the problems were fixed and that collection agencies followed the law, and consider the complaints when evaluating and paying...

Career College Central Summary:

  • The next credit bubble may be higher education, argued at least one panelist at a discussion held at the American Enterprise Institute earlier this month.
  • All the markers of a bubble are there, argued the panel’s moderator, Alex Pollock, a resident fellow at the American Enterprise Institute in Washington, D.C. “Pushing credit at any sector makes its prices rise,” Pollock said, “and rising prices, like...