The U.S. Department of Education today announced the official FY 2011 two-year and official FY 2010 three-year federal student loan cohort default rates (CDR). The national two-year cohort default rate rose from 9.1 percent for FY 2010 to 10 percent for FY 2011. The three-year cohort default rate rose from 13.4 percent for FY 2009 to 14.7 percent for FY 2010.
"The compromise reached by a bipartisan group of Senators and led by President Obama is a major victory for college students across the country. If enacted, the plan would cut rates on nearly every single new college loan this year, offering relief to nearly 11 million borrowers.
Education Department Announces Changes to FAFSA Form to More Accurately and Fairly Assess Students' Need for Aid
Today the U.S. Department of Education announced that beginning with the 2014-2015 federal student aid form, the Department willfor the first timecollect income and other information from a dependent student's legal parents regardless of the parents' marital status or gender, if those parents live together.
U.S. Secretary of Education Arne Duncan will host a press call today at 3 p.m. to discuss upcoming changes to the Free Application for Federal Student Aid (FAFSA) that will help the Department to more accurately and fairly discuss students' need for aid. Justin Draeger, president of the National Association of Student Financial Aid Administrators, will join Duncan on the call.
Webinar for College Seniors and Young Workers to Address Managing Student Loan Debt and Saving for a Secure Financial Future
An April 30 webinar will provide tips and tools to help college seniors and young workers learn to budget for today's needs and tomorrow's goals. "Start Early to Take Charge of Your Financial Future" will be held from 3-4 p.m. EDT on Tuesday, April 30.
Education Department Launches New Website and Social Media Tools to Help Students Navigate Financial Aid Process
Today, the U.S. Department of Education announced a new streamlined website and several social media tools that will make it easier for students and families to navigate the financial aid process and make informed decisions about paying for college. The launch of the new website, StudentAid.gov, follows a report from the U.S.
The U.S. Department of Education today released the official FY 2009 national student loan cohort default rate, which has risen to 8.8 percent, up from 7.0 percent in FY 2008.