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Department of Education announced this week that its Office of Federal Student Aid (FSA) will resume collections on defaulted federal studentloans beginning Monday, May 5, 2025, ending a pause that has been in effect since March 2020. million borrowers owing more than $1.6
Department of Education has announced that collections on defaulted federal studentloans will resume on May 5, 2025, ending a pause that began in March 2020 due to the COVID-19 pandemic.
Fortunately, NPSAS goes far beyond illustrating the extent to which students struggle with affordability. Among students with unmet need in 2019-2020 school year: 40% reported taking out studentloans, nearly twice the rate of students without unmet need (21%).
In this post, we focus on Subtitle A, Student Eligibility , Subtitle B, Loan Limits , and Subtitle D, Pell Grants. Title III represents a significant overhaul of the studentloan system in a move to improve access, transparency, and accountability in loan programs. In 2025, enrollment rose by 3.2%
Graduate school first-time enrollment has gone up between Fall 2020 and Fall 2021, according to a new report. Dr. Enyu Zhou The Graduate Enrollment and Degrees (GE&D) report – released by the Council of Graduate Schools (CGS) – showed that, between Fall 2020 to Fall 2021, first-time enrollment rose by 8.9%. in Fall 2020.
“We should understand that affordability is one of the biggest challenges facing higher education, now and into the future, as evidenced by increasing studentloan debt,” said Dr. Linda Oubré, president of Whittier College in California. The total studentloan debt reached $1.75
In its latest report regarding higher education’s return on investment (ROI), Georgetown University’s Center for Education and the Workforce (CEW) has analyzed 186 law schools and found at nearly one-in-five law schools, graduates’ net take-home pay after studentloan payments averages at $55,000.
According to The Institute for College Access & Success (TICAS), about 60% of Delaware college graduates have studentloan debt. The average amount of debt for graduates in Delaware was $39,705 in 2020.
Borrowers with Direct Loans have not paid interest or payments since March 13, 2020. The payment pause was extended numerous times under two presidential administrations.
Millions of federal studentloan borrowers returned to repayment in October 2023 following the end of the Covid-era forbearance, which had been in effect since March 2020. The transition back to normal billing has not been going well.
What are the COVID-19 studentloan relief deadlines for federal debt repayments? You may have heard some studentloan servicers are closing shop — when does that happen? Over next two years: Many federal studentloan servicer contracts due to expire. 30, 2020, but later extended several times until Dec.
When the same trends were juxtaposed with the recently released data, there was a slight decline in giving, but the pandemic years of 2020 and 2021 were two of the best giving years on record with $486.26 billion and $516.65 billion in charitable giving, respectively. And herein lies our greatest opportunity.
She started the program in September 2017 and finished in October 2020. "It The class of people included in this case are all Black students who were enrolled in Walden’s DBA program from 2007 to 2017 and all female students enrolled in the program in the same time period who had received studentloans, according to Ramchandani. “In
Even so, 64% of Rhode Island residents from the Class of 2020 graduated with studentloan debt, according to The Institute for College Access & Success (TICAS). The average student debt for RI borrowers was […]. The post 3 Options for StudentLoan Forgiveness in RI appeared first on StudentLoan Planner.
Still, 66% of graduates in the class of 2019-2020 had studentloan debt, with an average balance of $31,939, according to The Institute for College Access & Success (TICAS).
South Dakotans have a higher percentage of graduates with studentloan debt, according to data from The Institute for College Access & Success (TICAS). Seventy-three percent of South Dakota students from the class of 2020 had education loans to repay upon graduation. The average loan balance was $32,029.
This post is a continuation of the last two that summarized Modules 1 and 2 of the StudentLoan Entrance Counseling (SLEC). Module 3, “Federal StudentLoans”, is summarized in this post. SLEC ensures that a student understands their rights and responsibilities with Federal loans prior to entering into a loan agreement.
Each year, thousands of borrowers struggle with repaying their federal studentloan debt after they attended predatory schools that lied or withheld important information to get them to enroll, or closed and prevented them from completing their program. That’s bad news for borrowers, though they can continue to apply for relief.
1) The Share of Students Who Earn More than a High School Graduate. This reinstated threshold metric demonstrates whether students’ investment of time, money, and resources will leave them better off than if they had not attended college. 3) Cumulative StudentLoan Debt at the Institution and Program Level.
Roughly 20% of the 43 million Americans holding federal studentloans are in default. Department of Education announced its Fresh Start initiative, which provides a pathway out of default for borrowers who defaulted on their federal studentloans prior to the pandemic.
A recognition of this reality is exactly why a student-level data network (SLDN), as proposed by the College Transparency Act , has such broad bipartisan support. For a more detailed list of recommendations on data collection related to CARES Act funding, please see PostsecData’s September 2020 comment letter.
Funding can also come from private sources, as well as the tuition and fees that students pay. When a school is underfunded, students often pay the price. The latest StudentLoan Hero study looks at the states where public colleges are underfunded (and where they’re not). During the 2019-2020 period examined, 45.7%
that help learners from low-income backgrounds achieve upward mobility; provide student and employee success solutions to colleges and businesses; invest in education-focused innovations to improve learner outcomes; and provide information, tools and counseling to help millions of borrowers successfully repay their federal studentloans.
And although it may feel ‘normal’, we’re still processing under a number of exceptions and waivers instituted in 2020 since the COVID-19 National Emergency … Read more ». 2022 brought us a little closer to what life was like before COVID-19 changed the world.
But, as higher education settles into its post-pandemic reality, what can those students expect to face—and how can private-sector scholarships help as they work toward their associate’s, bachelor’s and graduate degrees? Arguably the much bigger problem are students who take out some—often smaller amounts— of debt, but never graduate.”
Additional ways to fund your college education The cost of college continues to rise , with the 2020 average bachelor’s degree recipient graduating with an average of $28,400 in studentloan debt. See our private studentloan guide for more information. Mexican American Legal Defense and Educational Fund (MALDEF).
By Kyra Taylor , National Consumer Law Center and Winston Berkman-Breen , Student Borrower Protection Center This blog is the third post in a three part series about the IDR Account Adjustment and the continued flexibilities available to borrowers seeking Public Service Loan Forgiveness. Did you default on your federal studentloans?
SLM Corporation (commonly known as Sallie Mae; originally the StudentLoan Marketing Association) is a publicly traded U.S. Initially, it was a Federal entity that serviced Federal studentloans. Later, it became a private corporation that made and serviced its own private studentloans.
This week, we feature awards for members of LendKey member credit unions; for women pursuing STEM; and for students who’ve started their college careers and face financial barriers to continuing. LendKey Scholarship Program LendKey connects students with credit unions for in-school loans and studentloan refinancing options.
PSLF promises Federal loan holders that, upon meeting requirements pertaining to public service employment, the ED will wipe away a large part of their debt. The PSLF program was implemented to forgive studentloan debt for employees of public service and nonprofit jobs. Eligible StudentLoans and Payment Plans.
In that case, a group of federal studentloan borrowers sued the Department of Education for ignoring their applications for studentloan cancellation under the Department’s “borrower defense to repayment” rules. The Department is rescinding all denial notices provided to borrowers between December 2019 and October 2020.
What We Know About the New FAFSA and Financial Aid Offers As a result of the FAFSA Simplification Act in 2020, the FAFSA has been updated to help millions of students and families maximize their financial aid for college. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.
About 65% of admissions officers view social media as “fair game” when evaluating potential enrollees, according to a survey performed by Kaplan Test Prep in 2020. And in 2019, Harvard retracted its admission offer to a noteworthy student who had made racist remarks in private chats and Google Docs two years earlier. Data: Kaplan.
One significant barrier between borrowers and an IDR plan was poor communication: loan servicers failed to tell borrowers that they were eligible to enroll in an IDR plan or provided them with inaccurate information about their repayment status and options. It can convert other types of federal loans into Direct Loans.
Many students missed crucial classroom experiences or faced challenges with remote learning, creating gaps in their educational foundation. The NAEP’s Long-Term Trend Assessment recorded a five-point drop in average assessment scores from 2020 to 2022— the largest drop ever recorded.
The Department of Education just let us know they are about to issue a new rule that says “just kidding” on their previous “just kidding” For those of you who might need a refresher, here is where we are so far: The CARES Act is signed into law by the President on March 27, 2020.
And you can definitely see that, where Black students continue to be underrepresented in gifted and talented education by 50 to 55%.” According to a 2022 federal report , during the 2020-21 school year, more than 33% of U.S. billion in studentloan forgiveness. million borrowers receiving $136.6
Over the last year, we’ve been exploring the educational experiences of Black and Hispanic PhDs in STEM, and find that of the 184,000 PhDs in science, technology, engineering, and mathematics (STEM) fields awarded to individuals between 2010-2020, just 3.8 percent went to Black Americans.
At the conclusion of the 2020 election, I celebrated when all the candidates to whom I made a financial contribution won, save one! Every year we are told by leaders from both major U. political parties, and candidates too, that that year’s election is the most consequential ever.
2019; Monarrez & Washington, 2020). At a societal level, the United States’ economy depends on a skilled workforce, particularly given the rapidly changing technological landscape. Yet, there are still large disparities in postsecondary degree attainment for Black males (Espinosa et al., 2021; Reeves, 2022; Villavicencio, 2023).
Department of Education announced Wednesday a massive studentloan discharge affecting 261,000 borrowers who attended Ashford University, following evidence of widespread deceptive practices at the online institution. The discharge covers loans taken out between March 1, 2009, and April 30, 2020.
Millions of Americans lost their jobs after the outbreak of COVID-19 in early 2020. For many, this disrupted their ability to repay their Federal studentloans, so repayments were suspended in March 2020. The end of the pause will affect the millions of Americans who have outstanding balances on Federal studentloans.
While the Free Application for Federal Student Aid (FAFSA) typically opens for applications on October 1, the application for the 2024-25 school year has been delayed until sometime in December—a delay that could have ripple effects on students, families and scholarship programs. Why is the FAFSA late?
President Biden’s StudentLoan Forgiveness Plan, as announced last August, was set to cancel $10,000 in Federal student debt for those making less than $125,000 or households with less than $250,000 in income per year. The ED seeks to ease borrowers back into repayment of their studentloans after the long hiatus.
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