Student Financial Aid
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March 5, 2012

Consumer Financial Protection Bureau Now Taking Private Student Loan Complaints

Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) is now accepting complaints from borrowers having difficulties with their private student loans.

November 29, 2011

Beyond the Iron Triangle: Containing the Cost of College and Student Debt

It's great to be back at the FSA conference.

I want to second Jim's remarks about the extraordinary job that financial aid administrators, working with the Obama Administration, have done to advance access, affordability, and attainment in the last three years. The effort—and the results—have been remarkable.

June 7, 2011

Department Offers Guidance to Schools on Tuition-Free Trial Periods to Help Students Decide if an Educational Program is Right for Them

The Department of Education continued its commitment to postsecondary schools and students today with an announcement that it is providing institutions with guidance on tuition-free trial periods, which give students the chance to see if a program is right for them before they commit financially.

June 2, 2011

Obama Administration Announces New Steps to Protect Students from Ineffective Career College Programs

Today, the Obama Administration released final regulations requiring career college programs to better prepare students for "gainful employment" or risk losing access to Federal student aid.

November 30, 2010

Department Officials to Open Federal Student Aid Annual Conference in Orlando

Three top U.S. Department of Education officials will kick off the 2010 Federal Student Aid (FSA) annual conference when they present opening remarks at 9:00 a.m. on Tuesday, November 30, at Walt Disney World Swan and Dolphin Resort in Lake Buena Vista, Fla.

October 28, 2010

Department of Education Establishes New Student Aid Rules to Protect Borrowers and Taxpayers

The Obama administration today released a broad set of rules to strengthen federal student aid programs at for-profit, nonprofit and public institutions by protecting students from aggressive or misleading recruiting practices, providing consumers with better information about the effectiveness of career college and training programs, and ensuring that only eligible students or programs receive

September 24, 2010

Department on Track to Implement Gainful Employment Regulations; New Schedule Provides Additional Time to Consider Extensive Public Input

The Department of Education today announced that it is on schedule to implement new regulations of the for-profit education sector dealing with gainful employment and 13 other issues to protect students and taxpayers. The regulations will be released in two phases.

September 13, 2010

Student Loan Default Rates Increase

U.S. Secretary of Education Arne Duncan today announced that the FY 2008 national cohort default rate is 7.0 percent, up from the FY 2007 rate of 6.7 percent. The default rates increased from 5.9 to 6 percent for public institutions, from 3.7 to 4 percent for private institutions, and from 11 to 11.6 percent for for-profit schools.

July 23, 2010

Proposed Rule Links Federal Student Aid to Loan Repayment Rates and Debt-to-Earnings Levels for Career College Graduates

The Obama Administration released today its proposed regulations requiring for-profit career colleges to better prepare students for "gainful employment" or risk losing access to federal student aid. The proposed rules seek to protect students from taking on unsustainable debt they cannot repay and to protect taxpayers from high loan default rates.

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