Duncan pledges more help for parents seeking federal college loans

By Nick Anderson. The Education Department is taking new steps to help parents obtain federal college loans if their applications are rejected because of minor problems in their credit history — an effort to address complaints about tighter lending standards that has hurt enrollment at historically black colleges and universities.
Education Secretary Arne Duncan disclosed the action in a letter Tuesday to Rep. Marcia L. Fudge (D-Ohio), chairman of the Congressional Black Caucus. For months, advocates of historically black colleges and universities (HBCUs) have pressed Duncan for help because a sharp reduction in lending to parents has had a significant impact on HBCUs, including Howard University in the District, Morgan State University in Maryland and Hampton University in Virginia. More...