For Federal Student Loan Borrowers: Things to Know, and Watch Out For Scammers September 28, 2023-"More than 28 million federal student loan borrowers are scheduled to restart payments or begin making them for the first time in October. The return of monthly federal loan payments arrives after a pause of three-plus years during the COVID-19 ...
How Much Will College Cost? A New Initiative Wants to Make It Clear. September 27, 2023-"It is one of the hallmarks of the modern consumer economy that when we’re going to buy something, we want to know what it’s going to cost. But when it comes to a college education, one of the biggest purchases many people will make, it c...
High School Seniors Face Delay in FAFSA Application Process September 27, 2023-"High school seniors preparing to embark on their college journeys will have to exercise patience this year as they await the opportunity to apply for federal student aid. The delay in the application timeline is attributed to the Department of Educa...
A Handful of Illinois Colleges Commit to Making Costs for Students More Clear September 27, 2023-"Chicago State University, Northern Illinois University and Northeastern Illinois University have signed onto a new commitment to standardize financial aid offers so admitted students can more easily compare costs and understand what they will owe af...
Higher Ed Groups Have a Plan to Improve Financial Aid Offers September 26, 2023-"Nearly a year after the Government Accountability Office criticized colleges and universities’ financial aid offers, a group of higher education associations in Washington, D.C., is rolling out an initiative to make those offers easier for stu...
Hundreds of Colleges Agree to Make Financial Aid Offers More Transparent September 26, 2023-"There is a lot of variation in the financial aid letters colleges use to inform students of the cost of attending and the grants and loans that are available to them. The inconsistency can make it difficult for families to figure out how much they o...
Committing to More Clarity on Student Aid Offers September 26, 2023-"Community colleges comprise nearly a quarter of the more than 360 higher education institutions that are committing to a national effort to be more transparent and clear about their student financial aid offers," Community College Daily writes.
Beware of Surge in Student Loan Scams September 24, 2023-"As the student loan repayment hiatus ends after a three-year break, countless current and former students face the reality of resuming payments. With so much uncertainty surrounding student loans in recent years, many are in the dark about the lates...
Student Loan Repayment Plan September 21, 2023-"Student loans are going back into repayment and Rachel Rotunda from the Notional Association of Student Financial Aid Administrators gives advice on how to move forward," Fox 5 reports.
Students Targeted By Scammers Amid School Loan Payments Restart: What to Know September 20, 2023-"The cash crunch associated with the restart of student loan payments — and seasonal school spending — creates favorable conditions for a flood of scams. Students are warned to be wary of any phone calls, texts or emails that trigger a se...
Podcast: Financial Aid Reform and Borrower Defense Complexities September 20, 2023-"Dr. Jason Altmire speaks with Justin Draeger, President and CEO of the National Association of Student Financial Aid Administrators (NASFAA), about financial aid reform and the onslaught of borrower defense claims," Career Education Colleg...
Student Loans: Economic Impact, Biden's SAVE Plan, and More September 15, 2023-"The debate over student loans has come to a head in 2023. Everyone has made their opinions known on topics such as debt cancellation, repayments, and if college is even necessary. So where do we go from here? And what does it all mean for the econom...
Student Loan Payments Starting Again After Pandemic Pause: What to Know About the Options September 13, 2023-"The bill is coming due for students who took out loans to finance their education. Student loan repayments resume next month, after a three-year pandemic pause. More than 44 million Americans hold $1.7 trillion in student loan debt, and those l...
New Strada Grant Aids Those Who Help Students and Families Complete FAFSA September 12, 2023-"A new and improved Free Application for Federal Student Aid expected late this year should provide opportunities for more students and their families to access money to pay for college. Yet the transition to this new form presents unprecedented chal...
Student Loan Payments: How to Figure Out Which Repayment Plan Works for You September 11, 2023-"After a lengthy pause, federal student loan repayments are set to restart in October. National Association of Student Financial Aid Administrators President and CEO Justin Draeger advises borrowers to start coming up with a repayment plan now, don't...
How to Go Back to School With Defaulted Student Loans September 11, 2023-"Defaulting on student loans can present an obstacle if you want to go back to school. Student loan default, which occurs after 270 days of missed payments on federal student loans, typically makes you ineligible for federal student aid. That means b...
How to Pay Off Your Student Loans Fast September 10, 2023-"The Standard Repayment Plan—the plan that federal student loans automatically go on if you don’t choose an alternative—spans 10 years, but some options stretch payoff over 20, 25 or even 30 years. If you don’t want debt ...
Survey: Over 4 in 10 Student Loan Borrowers Unsure of Repayment Options September 7, 2023-"Over 40% of federal student loan borrowers don’t know if they’re eligible for an income-driven repayment plan, an awareness gap that could create budget turmoil for millions of Americans when payments resume next month," CNET reports.
Her Life Was About to Be Put on Hold. Her Balance Would Continue to Grow. September 6, 2023-"With only two weeks before she had to report to federal prison in 2019, Ashley Furst scrambled to get her affairs in order. Top of the list: what to do about the nearly $50K in student loan debt she had taken on to earn her master’s degree?" O...
Everything You Need to Know About Income-Driven Repayment, Including the New SAVE Plan September 6, 2023-"A new student loan reality is here for 44 millions federal borrowers. Emergency forbearance is coming to an end, interest has already started accruing on federal loans and repayment is set to restart in October. If you’re concerned about stude...
College of DuPage Green Lights Cannabis Cultivation Certificate September 4, 2023-"Discussions about marijuana being illegal at the federal level, and on what kind of education taxpayers were funding at COD, unfolded at the Aug. 24 board of trustees meeting. Board members questioned whether approving coursework surrounding a contr...
Student Loan Debt By Education Level: Is College Education Worth the Cost? August 31, 2023-"According to a 2023 Bankrate survey, a third of U.S. adults still consider a college degree as an essential part of the American Dream. But with the cost of college more than doubling over the last two decades, many have had to resort to student loa...
Interest Restarts for Student Loan Payments in September August 31, 2023-"After a long pause due to the pandemic, student loans are soon due again. Interest will begin to accrue starting September 1st for the first time since March 2020, and payments will resume next month," ABC News reports.
FAFSA Changes Are Coming. Here’s What You Should Know. August 31, 2023-"Significant changes are coming to the Fafsa—the Free Application for Federal Student Aid—for the 2024-25 academic year," The Wall Street Journal reports.
6 Scholarship Opportunities for African American Students to Seize August 30, 2023-"As schools welcome students back to their halls, it’s an opportunity to consider the educational journey beyond high school. For African-American students, this can mean diving into a realm of scholarships tailored to support their ambitions,"...
How the FAFSA Delay Could Impact Colleges and Students August 28, 2023-"The U.S. Department of Education is overhauling the Free Application for Federal Student Aid this year, but the agency plans to roll out the new form in December — two months later than usual," Higher Ed Dive reports.
Student Loan Repayments Are Set to Resume. Here's What to Know. August 28, 2023-"About 44 million Americans with student debt must soon start repaying their student loans, a change that could impose a financial strain on many households after a three and a half year hiatus. Interest will start accruing on education loans on Frid...
Student Loan Repayments Start in October: Know Your Servicer Sooner Rather Than Later August 24, 2023-"Interest resumes building on federal student loans beginning in September after more than three years at 0% during the pandemic-related payment pause. But for many college borrowers restarting monthly payments in October won't be as simple...
1 in 4 Students Never Finish Their College Applications. Why? August 24, 2023-"College applications have long stood as the entry point to higher education. But that gateway can slam shut for students unfamiliar with the process and forced to navigate it without support," Higher Ed Dive reports.
Do This Before the Redesigned 2024 FAFSA Launches in December August 24, 2023-"For the first time since 2016, the Free Application for Federal Student Aid (FAFSA) will not be ready on Oct. 1 for the following academic year. Instead, students have to wait until December to fill out and submit a redesigned application for financ...
Threat of Student Loan Scams Resurfaces as End of Payment Pause Nears August 23, 2023-"Millions of borrowers are preparing for the pause on student loan payments to end in October. Unfortunately, so are many scam artists looking to take advantage of people uncertain about their options after the Supreme Court struck dow...
Student Loan Borrowers Approach Payment Restart with Apprehension, Confusion August 16, 2023-"Lamesha C. Brown had seen it before: an email from the Education Department alerting of the looming restart of her student loan payments. But this time was supposed to be different, as Congress had passed a bill to stop any additional extension...
Going to College? Here’s What You Should Know About Student Loans August 15, 2023-"If you’re heading to college or starting to think about where you’d like to apply, you’re probably considering options for funding your education. If you need to borrow money to pursue your dreams, you are far from alone," The Asso...
What You Need to Know With the Federal Student Loan Payment Freeze Ending Aug. 31 August 12, 2023-"After more than three years, the pause on federal student loan payments will end on Aug. 31. The Covid-related relief program, started by President Trump and extended numerous times by President Biden, suspended payments, froze interest, and prohibi...
Federal Student Loan Payments Resume in October: What You Need to Know August 11, 2023-"Federal student loans have been on hold for almost three years. This October, they’ll be coming back. Millions of Americans will now have to incorporate these payments back into their financial plans," NBC reports.
A New FAFSA Form Is Coming, Along With Changes in College Aid August 11, 2023-"A long-awaited, supposedly user-friendly version of the college financial aid form known as the FAFSA will be unveiled for the 2024-25 school year," The New York Times reports.
The Pros and Cons of Working While in College August 10, 2023-"Working a part-time job while in college can help students pay for personal expenses, supplement financial aid and gain valuable work experience. However, there are drawbacks students should be prepared for, including time restraints and impact on t...
Student Loan Borrowers Should Prepare Now to Begin Repayments August 8, 2023-"Student loan payments will start up again for millions of Americans in just a few short months. Interest will start accruing as of September first with payments expected to resume a month later," WRTV reports.
Student Loan 101: Are Federal or Private Loans Better? August 4, 2023-"If you need to borrow money to pay for college, you're not alone. The College Board reported that 54% of bachelor's degree recipients from public and private nonprofit universities graduate with student loan debt," Yahoo Finance reports.
Fact Sheet: What to Know About Student Loan SAVE Plan August 2, 2023-"The U.S. Department of Education’s Federal Student Aid website has launched the beta version of its updated income-driven repayment (IDR) application for student loan payments. The updated application allows borrowers to enroll in the new Savi...
All About Public Service Loan Forgiveness July 31, 2023-"Many student loan borrowers received some relief when the U.S. Department of Education paused payments, collections and interest on most federal student loans in March 2020 due to the coronavirus pandemic," U.S. News & World Report writes.
Proof Points: Surprising Patterns in Who Gets Merit and Need-Based Aid From Colleges July 31, 2023-"The bottom line on college tuition is that there is no bottom line. At most four-year institutions, admitted students are quoted all sorts of different prices. Often masquerading as 'merit aid' or 'scholarships,' the discounts are aimed at persuadin...
Lisa Hopper Earns Lifetime Achievement Award From NASFAA July 27, 2023-"Lisa Hopper, who recently retired from her post as dean of student financial services for National Park College in Hot Springs, Arkansas, received the Lifetime Achievement Award from the National Association of Student Financial Aid Administrators,"...
Highlights of the Regents’ July 2023 Meeting July 26, 2023-"Members of the Finance and Capital Strategies Committee reviewed updates to the final 2023-24 state budget during the UC Regents July 19 meeting. The budget — a total of $310.8 billion — will provide over $215 million to the UC system," ...
Congressional Bill Would Relieve Federal Student Loan Debt July 19, 2023-"A pair of North Carolina lawmakers are sponsoring another try at student loan debt relief. U.S. Reps. Alma Adams of Charlotte and Deborah Ross of Raleigh last week introduced the so-called “Clean Slate series” of legislation: Clean Slate...
The Sibling Discount Ends for College Financial Aid July 18, 2023-"Parents paying tuition for two or more children in college stand to lose some financial aid under new government rules," The Wall Street Journal reports.
The Most Important Things to Know About Upcoming FAFSA Changes July 18, 2023-"Later this year, students and their families will fill out a Free Application for Federal Student Aid (FAFSA) that features profound changes. The FAFSA changes a little every year, but courtesy of the 2020 FAFSA Simplification Act, these upcomi...
Education Loans and Grants Can Be Needlessly Confusing to Students, Families July 17, 2023-"When high school senior Lily, a proud member of the Texas A&M class of 2027, received her financial aid offer for the fall, she was caught off guard. 'I was offered loans and grants, and at first glance I knew I wanted to avoid the loans if poss...
NC Congresswomen Promote Bills to Ease the Student Loan Debt Crisis July 13, 2023-"North Carolina congresswomen Deborah Ross (2nd District) and Alma Adams (12th District) joined this week with Rep. Haley Stevens of Michigan’s 11th District and Rep. Nikema Williams of Georgia’s 5th District to tout a package of legislat...
Biden’s Loan Forgiveness Program Fails Supreme Court Test. What Now? July 13, 2023-"Hosts Jon Fansmith and Sarah Spreitzer are once again joined by Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, to talk about what is happening on campuses in terms of financial aid now that the...
4 Ways Financial Aid Partnerships Can Help You Ride Out the Turbulent FAFSA Season July 12, 2023-"Financial aid offices often deal with some of higher education’s most complex, nuanced and flat-out tricky fine-print problems. With the thousands of cases a single officer can deal with in a year, it’s hard not to err. Here are four way...
Hopper Awarded Lifetime Achievement Award From NASFAA July 11, 2023-"The dean of Student Financial Services for National Park College, Lisa Hopper, was awarded the Lifetime Achievement Award from the National Association of Student Financial Aid Administrators during the annual conference in San Diego on July 2," The...
Looking Back on Affirmative Action as a Remedy for Racism July 10, 2023-"Carter Sessoms feared that if affirmative action was deemed illegal, the presence of minorities might decrease at campuses across the country. 'Affirmative action was to put in place some equitable strides within the workforce and education systems ...
Colleges Scrutinize Race-Based Financial Aid After Affirmative Action Ruling July 8, 2023-"After the Supreme Court rejected race-based affirmative action in college admissions, some state and university leaders are already asking what that means for scholarships and financial aid aimed at students from underrepresented groups &m...
Thriving, Not Just Surviving July 7, 2023-"By barring the use of race in college admissions, the Supreme Court has focused attention on a critical question: Who gets into the most elite institutions of higher learning? But the current furor masks an equally important issue: Once they gain ad...
Does the Supreme Court Order Apply to Financial Aid? July 5, 2023-"In the wake of Thursday’s ruling by the U.S. Supreme Court that affirmative action in college admissions is unconstitutional, many colleges issued statements. Most said that they disagreed with the ruling, but they would follow the law. Most s...
Here’s What Will Happen to Your Student Loans Now. June 30, 2023-"Now that the Supreme Court has blocked President Biden’s student debt cancellation proposal, people with loan balances have two things to watch in the short term," The New York Times reports.
Supreme Court Blocks Biden's Debt-Relief Plan June 30, 2023-"President Biden does not have the authority to forgive student loans, the Supreme Court said in a 6-to-3 decision that dooms the administration’s debt-relief plans," Inside Higher Ed reports.
Supreme Court's Student Loan Ruling Affects Hundreds of Thousands in Mass. June 30, 2023-"The Supreme Court effectively killed President Joe Biden's $400 billion student loan forgiveness plan on Friday, in a ruling that affects more than half a million people in Massachusetts. That's how many Bay Staters applied for student debt forgiven...
What the Supreme Court's Rejection of Student Loan Relief Means for Borrowers June 30, 2023-"In one of the most anticipated decisions of its current term, the U.S. Supreme Court has struck down President Biden's sweeping plan to discharge some or all federal student loan debt for tens of millions of Americans," NPR reports.
Some Colleges Will No Longer Consider Race in Awarding Student Scholarships June 30, 2023-"Several colleges have moved to eliminate the consideration of race in awarding student scholarships since the U.S. Supreme Court ruled on Thursday that race-conscious admissions are unconstitutional," The Chronicle of Higher Education reports.
Here's What You Need to Know About Student Loan Repayment June 30, 2023-"The Supreme Court struck down President Biden’s $430 billion student loan cancellation program on Friday. The plan would have affected about 43 million Americans, and 20 million of those could have had their debt wiped completely," NJ Spo...
Supreme Court Rules Student Loan Forgiveness Unconstitutional June 30, 2023-"The U.S. Supreme Court dashed the hopes of 40 million student borrowers Friday, striking down President Joe Biden’s student loan forgiveness program. The plan would have offered $10,000 of relief to borrowers making under $125,000 and $20,000 ...
Pay Off Student Loans or Invest? Scenarios to Consider June 28, 2023-"There’s no one-size-fits-all answer to the question of whether to pay off student loans or invest. In fact, there are many factors to consider when making this decision, including your student loan interest rates, predicted returns on investme...
Report: How Universities Are Preparing for The End of The Pandemic Loan Pause June 27, 2023-"About 43 million people are expected to resume or start repayments of their student loans. The National Association of Student Financial Aid Administrators (NASFAA) has issued its final report and a toolkit for financial aid professio...
Underborrowing Is the Other Student Loan Crisis (Opinion) June 26, 2023-"Maya* and Noah, Georgetown Law students from socioeconomically disadvantaged families, are hungry. Their kids are, too. Lauren, a student with a psychiatric disability, does not have money for medicine she needs to attend class. Although each obtain...
Gainful Employment Proves Contentious, Again June 22, 2023-"Higher education groups representing a range of colleges and universities told the Education Department this week that the agency has a lot of work to do over the next four months to fix its proposed gainful-employment rule," Inside Higher Ed report...
Is College Worth It? Recent Analysis Says Yes June 22, 2023-"College degrees have historically been known as a primary path to economic mobility, but when the value of a degree is based on the institution awarding it—and on demographics such as race, gender and income level—the financial feasibili...