“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.”
As you have noticed, American higher education has just gone through a period of cataclysmic change. Can you think of another four-year period when colleges have removed the names of their slave-holding founders from buildings, and when students have been expected to continue to pay full tuition while attending classes remotely?
Those are only two of the changes we have seen, some of which we have come to accept as a new and normal way of educating students. They are very big changes.
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
Don’t Throw Away Your Sharpened Pencils . . .
“The University of California Board of Regents today (May 21) unanimously approved the suspension of the standardized test requirement (ACT/SAT) for all California freshman applicants until fall 2024. The suspension will allow the University to create a new test that better aligns with the content the University expects students to have mastered for college readiness. However, if a new test does not meet specified criteria in time for fall 2025 admission, UC will eliminate the standardized testing requirement for California students.” Read more
New College Freshmen . . .
This is the time of year when high school seniors have traditionally made their final college selections, mailed in deposits, bought college apparel, contacted their future roommates, and gotten ready to make the exciting transition to college.
But now students, their families and colleges all seem to be in the same pickle, thanks to the coronavirus pandemic. Here are just a few of the issues that have risen to the surface.