For years, schools that offered direct-to-student loans could withhold transcripts to pressure borrowers to repay those loans. Now, the Consumer Financial Protection Bureau is cracking down.
Topics: Student debt
Pilot program tries a ‘win-win-win’ approach to releasing stranded credits
Northeast Ohio’s eight public colleges and universities are collaborating with Ithaka S+R on a sustainable approach to resolving students’ debt so they can access their transcripts and re-enroll.
Ohio State University plans to go debt-free for all undergrads
Ohio State University, which enrolls more than 40,000 undergraduates, said it will work to eliminate loans from all undergraduate financial aid packages across the next 10 years.
Newly minted vets, dentists facing debt that far exceeds earnings
A Wall Street Journal analysis highlights several kinds of professional degree programs that leave graduates with large debt burdens and relatively modest initial salaries—a threat to the talent pipeline for several essential fields.
Changes ahead for Public Service Loan Forgiveness program
Federal education officials have announced a slate of temporary changes to the troubled federal Public Service Loan Forgiveness program—added flexibility that could benefit more than 550,000 borrowers.
Student debt: Officials extend loan repayment pause, analysis shows growing racial wealth gaps
Federal officials announced a final extension of the temporary pause on student loan repayments, sparking renewed calls for debt cancellation to address racial wealth disparities.
150+ colleges have cleared student balances, with more expected
Colleges and universities from coast to coast are using federal pandemic relief funds to clear student debts for unpaid tuition and fees.
HBCUs clear students’ unpaid balances to lighten debt burden
At least 11 HBCUs have announced decisions to clear some or all of their recent graduates’ outstanding tuition and fee balances.
Rethinking transcript holds for students with outstanding balances
U.S. colleges and universities for years have had a policy of withholding transcripts and degrees from students who have outstanding balances, but some institutions are now reconsidering the approach.
Latest relief bill includes $40B for higher ed, sets stage for debt forgiveness
The $1.9 trillion stimulus package President Joe Biden signed into law this week provides $40 billion for higher education, eliminates taxes on student debt forgiveness, and closes a regulatory loophole that may encourage for-profit schools to target student-veterans.
Loan forgiveness: Biden says $50K is too much, signals next steps
President Joe Biden this week reiterated his support for writing off up to $10,000 in federal student loan debt for individual borrowers but said he will not pursue the $50,000 threshold being urged by some legislators and advocates.
Medical schools see 18 percent jump in applicants
A record number of people applied to medical school this year, many inspired by the health care providers on the front lines of the COVID-19 pandemic.