financial aid
October 1, 2013
UW Federal Student Loan Default Rates Remain Very Low Relative to National Rates
On Monday, the U.S. Department of Education (ED) released its annual update on federal student loan cohort default rates (CDRs), which measure the frequency with which student borrowers at all levels (undergraduate, graduate, etc.) default on their federal loans. Although both national and UW CDRs rose, the UW’s rates remain well below those of the…
September 9, 2013
ED Begins Negotiating New Gainful Employment Rule
On Monday, the U.S. Education Department (ED) began formal negotiationson the draft language of a proposed new “gainful employment” rule. The rule, originally published in 2011, was designed to enforce a requirement of the Higher Education Act that states career education programs—non-degree programs at all colleges and most degree programs at for-profit colleges—must “prepare students…
Oregon Passes Bill to Implement “Pay Forward, Pay Back” Pilot Program
(This piece was originally posted on 07/11/2013, however it was lost due to technical issues and is therefore re-posted here.) Last week, the Oregon legislature passed a bill that, if signed by the governor, will implement a pilot program to study the effects and feasibility of substituting upfront tuition payments with income-based, post-graduation payments. For 24 years after…
July 18, 2013
States Shift Financial Aid Money toward Need-Based Aid and Grant Aid
According to an annual survey released on Monday by the National Association of State Student Grant and Aid Programs (NASSGAP), the amount of state dollars going toward financial aid remained relatively stable between 2010-11 and 2011-12. In 2011-12, states awarded about $11.1 billion in state-based financial aid, a slight increase (0.7 percent) over the $11.0…
June 28, 2013
Federally Subsidized Student Loan Interest Rates Set to Double on July 1
Thursday night, time ran out for Congress to reach a deal to keep federally subsidized student loan interest rates from doubling. The Senate adjourned for its Fourth of July recess without voting on a plan; thus, the interest rates on new federally subsidized loans will double to 6.8 percent on Monday July 1st (the same…
February 26, 2013
Is All Merit Aid Meritorious?
Although there are many types of financial aid, it is typically awarded on the basis of either need or merit. Need-based aid is largely a result of a federal calculation and is somewhat predictable: to ensure access, students with more financial need receive more financial aid of various forms. And, although there is no universal definition of…
February 22, 2013
White Paper Focuses on Reforming Tax-based Aid
Many of the white papers sponsored by the Bill & Melinda Gates Foundation’s Reimagining Aid Design and Delivery project have focused on modifications to the Pell program and/or student loans and repayment (including the two I summarized previously, found here and here). However, the white paper released on Wednesday by the Center on Postsecondary and…
February 14, 2013
TICAS Paper Proposes New Approach to Federal Financial Aid
“Aligning the Means and the Ends: How to Improve Federal Student Aid and Increase College Access and Success” is the Institute for College Access & Success’s (TICAS) white paper for the Reimagining Aid Design and Delivery project, sponsored by the Bill & Melinda Gates Foundation (see our recent post for more information). Some of the report’s…
February 4, 2013
New America Paper Recommends Major Overhaul of Financial Aid System
The Gates Foundation has joined the nation’s financial aid conversation and is attempting to rethink how policies and practices can not only help maintain access (in the face of flagging state support and rising tuition prices), but also help students succeed. In September of last year, the Gates Foundation launched its Reimagining Aid Design and…
January 8, 2013
Private-College Presidents Champion Need-Based Aid
Two years ago at the annual Council of Independent Colleges, a group of private-college presidents advocated for limiting the amount of financial aid awarded on criteria other than need—usually referred to as “merit-based” financial aid. Although the presidents received an enthusiastic response from the Council, little action followed. However, last Saturday at this year’s Council…
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