“Today, the Department of Education announced steps that will bring borrowers closer to public service loan and income-driven repayment (IDR) forgiveness by addressing historical failures in the administration of the federal student loan programs. Federal Student Aid (FSA) estimates that these changes will result in immediate debt cancellation for at least 40,000 borrowers under the Public Service Loan Forgiveness (PSLF) Program. Several thousand borrowers with older loans will also receive forgiveness through IDR. More than 3.6 million borrowers will also receive at least three years of additional credit toward IDR forgiveness.”
Findings from the New Inside Higher Ed Survey
“My older son, who is graduating from an elite college this year, was most looking for high status in the colleges he put on his list five years ago. Now our daughter, who is just as accomplished academically, is thinking about costs and the careers that colleges can prepare her for. It looks like a new era of practicality has dawned.”
– Jaime, a mother who lives in the suburbs of Philadelphia
USA Facts is an organization that compiles statistics about dozens of areas of American life: employment, the pandemic, climate change, and more. For educators, a visit to the USA Facts page of statistics on American education is a real eye-opener, full of surprises and facts that provide a newly informed perspective. Read more
“What this means is that the American Dream for many low-income students has been deferred, perhaps permanently. Young people not born to well-off families will not surpass their parents in income and home ownership, they will not surge into promising careers, and they will not trust the American system to do right by them.”
When you ask a group of college administrators to summarize the effects that the pandemic has had on their institutions, most of them are likely to use adjectives like, negative, threatening, horrible, terrible, and even catastrophic.
There’s a reason for those answers. Thanks to the pandemic, many colleges have seen enrollments fall, spent too much of the funds they had available to offer students for financial aid, lost their valuable foreign students, had to put building and expansion plans on hold, and experienced a host of other problems. Read more
Are you, like thousands of other college students, waiting to get the word that classes are about to start again on campus?
That will be an exciting day. But even though you are eager to get to campus, we would like to ask you . . .
Have you seen stories online and on the evening news about students who are dropping out of college already this year? It’s happening to unfortunate students. For example, we just read a story about a young woman who dropped out of her community college because she could not afford Internet service.
If you are short of funds and thinking about taking a gap year, you might consider changing your mind, because financial aid could be available to help you. Read more
We are going to start today’s post by asking you a question.
Can you identify the following college, based on the information we provide below? This college:
- Accepts more than 60% of all applicants
- Has seen a dramatic reduction in the number of foreign students it has enrolled
- Offers financial aid to more than 70% of the students it accepts
- Has a shrinking endowment
- Has a difficult time raising money from alumni
- Is continuing to build costly new buildings and campus facilities in the hope of attracting more students
As you have noticed, it is currently difficult to get reliable, up-to-date information on student loan programs. Congress is tied up in knots about making decisions – any decisions – that can help students and their families plan how to navigate the coming school year or pay for it. And our President is writing up confusing new executive orders that will probably never be put into action.
In any time of uncertainty, scammers seem to know just what to do, which is to try to defraud people. And right about now, those criminals seem to have decided that students and their families are good targets for loan-related scams. Read more
Unfortunately, the best answer could be, “who knows?”
Is your college welcoming students back to campus for the fall semester, going completely online, shutting down entirely . . . or doing something else? And is it cutting tuition or giving refunds if it is not planning to deliver what it promised?
Because North American colleges and universities are not run by one governing body, each college and university is answering those questions differently. We seem to have entered a chaotic period in higher education. Hopefully, we will never see this level of uncertainty again. Read more