Financial Aid

Career College Central Summary:

  • Responding to complaints from the Congressional Black Caucus and historically black colleges, the Education Department has loosened standards for low-income federal student loans to help cover undergraduate costs, including tuition and living expenses.
  • These so-called PLUS loans are often used by African-American parents, but many were being rejected for the loans due to unemployment and degraded credit.
  • Now, for the...

Career College Central Summary:

  • Recently, Cuban opined about student debt at Inc.’s GrowCo Conference. Against the backdrop of rising student loan default, he made a compelling case that, in the interest of economic growth, the federal government should set a per-student ceiling on the amount of student loan money it gives out every year.
  • At first blush, this mandate will strike many poor students as patently unfair. When I looked deeper, however, I came to...

Career College Central Summary:

  • The Consumer Financial Protection Bureau’s (CFPB) recent annual student loan ombudsman report aims to help those falling behind with private lenders. However, its reactive approach would simply stifle flames rather than prevent their initial burst by proposing shortsighted policies that could lead vulnerable students to take on more debt.
  • CFPB Student Loan Ombudsman Rohit Chopra announced the report’s release with a dire...

Career College Central Summary:

  • An anti-debt organization is playing fairy godmother to Americans drowning in debt, swooping in and paying off bills randomly to protest “unjust” expenses.
  • Rolling Jubilee claims it is fighting against the oppression used by the 1 percent to control the 99 percent.
  • But critics say its system of selecting debt to cancel fails to consider which bills are “unjust” and which might be well-earned....

Career College Central Summary:

  • The U.S. Department of Education is turning its back on at least 1,000 borrowers in favor of shielding their former colleges from potentially crippling sanctions that would have resulted from high rates of default on federal student loans.
  • The move, announced late Tuesday and further detailed on Wednesday, concerns an Obama administration decision not to punish as many as 20 schools for loan defaults caused by questionable servicing...