As student loan debt levels and default rates in the United States continue to climb, consumers remain concerned about the accessibility and affordability of higher education. The average overall loan debt for bachelor’s degree recipients is fairly manageable (about $26,500 for the class of 2011, according to The Institute for College Access and Success). Still, students and families are shouldering a greater portion of the cost of college through loans than they ever have before.
Submitted by Lynn Russo Whylly on Wed, 04/10/2013 - 11:21am
To make college more accessible and affordable for students of lesser economic means, the federal student aid system must undergo a radical redesign. That was one of the key points made Tuesday during a policy briefing on Capitol Hill meant to highlight areas of student financial aid that are considered ripe for reform as Congress prepares to hammer out a budget for the next fiscal year.
Submitted by Lynn Russo Whylly on Mon, 04/01/2013 - 1:57pm
Financial aid appeals have been a regular part of the aid awarding landscape for some time now, but the way institutions respond to appeals varies widely. How your own institution responds can affect enrollment, net tuition revenue, and your school’s reputation in the marketplace.
Most financial aid offices are already beginning to receive appeals from families looking to improve their aid awards. A recent Wall Street Journal article encouraged families who were unhappy with their aid offer to call the aid office “as soon as possible.” Financial aid appeals have been a regular part of the aid awarding landscape for some time now, but the way institutions respond to appeals varies widely. How your own institution responds can affect enrollment, net tuition revenue, and your school’s reputation in the marketplace.
Submitted by Lynn Russo Whylly on Wed, 03/13/2013 - 2:30pm
Changes to Sallie Mae's Smart Option Student Loans for graduate degree seekers will go into effect on April 1. From that point on, those who choose this loan option can select either variable or fixed rates with no origination or prepayment penalties. The variable rate range will extend from 2.25% to 7.5%, while the fixed rate range will run from 5.75% to 8.875%.
Submitted by Lynn Russo Whylly on Wed, 03/13/2013 - 1:07pm
Although higher education is absorbing about one-third of the $75 million of cuts in the proposed 2013-2014 state budget, Higher Education Policy Commission Chancellor Paul Hill said the commission decided not to make any cuts to financial aid programs for students.
Submitted by Lynn Russo Whylly on Thu, 03/07/2013 - 10:09am
Student financial aid administrators, policymakers, and the general public have all expressed increasing concern about student loans, debt levels, and rising default rates, which coincide with worries about college costs, affordability, and transparency. That’s why NASFAA, the association representing nearly 20,000 financial aid professionals from all sectors of higher education, convened a task force in 2012 to study this issue and make recommendations for improvement.
Submitted by Lynn Russo Whylly on Wed, 03/06/2013 - 3:44pm
In estimating enrollment behavior, there are variables that are typically significant, such as financial need, total grant, quality measures, intended major, distance from campus, etc. Although the set of variables and their magnitudes are specific to each institution, there are some indicators that are usually more predictive than others.
Submitted by Lynn Russo Whylly on Wed, 03/06/2013 - 1:42pm
A House bill, the Earnings Contingent Education Loans (ExCEL) Act of 2012, attempts to reduce complexity, improve default rates, and increase the effectiveness of federal student loan subsidies—and would dramatically alter the way federal student loans are paid back.