Student Financial Aid
December 9, 2016
On December 12, 2016, the Secretary upheld the decision of the Senior Department Official (SDO) to cease recognition of the Accrediting Council for Independent Colleges and Schools (ACICS) as an agency that can provide schools with a seal of approval for educational quality, which in turn makes schools eligible to participate in federal student aid programs.
September 28, 2016
The U.S. Department of Education today announced that the three-year federal student loan cohort default rate dropped from 11.8 percent to 11.3 percent for students who entered repayment between fiscal years 2012 and 2013. The trend has moved downward since FY 2010, when the cohort default rate stood at 14.7 percent.
September 16, 2016U.S. Secretary of Education John B. King Jr., spoke at a college fair at Craigmont High School in Memphis, Tennessee, on Wednesday, Sept. 14, to highlight ways that students and parents can access and pay for college, as part of this year's "Opportunity Across America" back-to-school bus tour. The Secretary shared information about the new, early Oct. 1 availability of the Free Application for Federal Student Aid (FAFSA) and the College Scorecard—both resources that help students prepare to apply for college.
September 6, 2016Statement by U.S. Under Secretary of Education Ted Mitchell Regarding Announced ITT Educational Services Inc. Closure, Education Department Plan to Support Students
Following is the opening statement delivered today by Under Secretary Ted Mitchell in a press call with reporters to discuss the announced ITT Educational Services Inc. closure and the U.S. Department of Education's plan to support students.
Under Secretary Mitchell:
Thanks everyone for joining us today.
August 25, 2016Department of Education Bans ITT from Enrolling New Title IV Students, Adds Tough New Financial Oversight
The U.S. Department of Education today took a series of actions to protect students and taxpayers by banning ITT Educational Services, Inc. (ITT) from enrolling new students using federal financial aid funds, and stepping up financial oversight of the for-profit educational provider.
June 16, 2016
The U.S. Department of Education’s Federal Student Aid Office (FSA) today posted a series of updates to its data center, a collection of key performance data on the federal student aid portfolio.
March 25, 2016Secretary of Education John King spoke about the role postsecondary education plays in ensuring society is equitable, healthy, and high-functioning. He also urged colleges and universities to reimagine higher education, including providing ambitious standards of access, affordability, and completion.
March 25, 2016U.S. Department of Education Announces Path for Debt Relief for Students at 91 Additional Corinthian Campuses
The U.S. Department of Education announced today that students who were defrauded at 91 former Corinthian Colleges Inc. (Corinthian) campuses nationwide have a clear path to loan forgiveness under evidence uncovered by the Department while working with multiple state attorneys general.
November 17, 2015Department of Education and Attorney General Kamala Harris Announce Findings from Investigation of Wyotech and Everest Programs
After analyzing several years of job placement rates reported by Corinthian College's Wyotech and Everest programs, along with evidence provided by California Attorney General Kamala Harris, today, the U.S. Department of Education is announcing the results from the joint investigation which concluded the programs misrepresented their placement rates to enrolled and prospective students.
May 26, 2015