25 mai 2013
Concerns on Loan Denials
By Libby A. Nelson. Since the Education Department changed its underwriting standards for loans to students’ parents in 2011, 400,000 parents have been denied the loans. The denials have fallen disproportionately on historically black colleges and universities, whose leaders pleaded with the Obama administration Tuesday to reconsider the policy.
“Our students and families are in crisis now,” Michael Lomax, president and chief executive officer of the United Negro College Fund, told Education Department officials Tuesday. Lomax spoke at a hearing at which department officials sought input in advance of a new round of negotiated rule-making, which will consider underwriting standards for PLUS loans, among many other topics. Read more...
“Our students and families are in crisis now,” Michael Lomax, president and chief executive officer of the United Negro College Fund, told Education Department officials Tuesday. Lomax spoke at a hearing at which department officials sought input in advance of a new round of negotiated rule-making, which will consider underwriting standards for PLUS loans, among many other topics. Read more...