December 17, 2015 by I Am Not A Loan
New Income-Driven Repayment Plan Now Available for ALL Federal Direct Student Loan Borrowers: REPAYE
Starting today, all borrowers with federal Direct student loans have access to a new repayment plan with monthly payments limited to 10% of your discretionary income. You can enroll regardless of when you borrowed. If you’re having trouble affording your monthly payments – or just want the assurance of payments based on your income – check out the Revised Pay As You Earn (REPAYE) plan and see if it’s right for you.
November 10, 2015 by I Am Not A Loan
Form and Formula: How the Federal Government Distributes Aid to Students explains the history of need analysis—the method used to determine the amount of federal aid a student receives—and the method of collecting financial data from students and families.
November 09, 2015 by Gail Zuagar
Like many students, my college decision was based largely on the price I would have to pay — tuition, financial aid, and in-state vs. out-of-state costs all had an influence. However, there was one other factor I should have paid close attention to — one that would have solidified for me and my mother whether my investment was a sound decision — and that is graduation rates for Pell Grant recipients.
October 28, 2015 by I Am Not A Loan
Federal consumer regulators on Wednesday won a major court battle against Corinthian Colleges Inc., the former national for-profit chain that entered bankruptcy this year amid claims of defrauding students.
A federal judge in Illinois ruled that Corinthian “engaged in deceptive practices” by misleading students about their career prospects, according to documents obtained by The Wall Street Journal.
October 08, 2015 by I Am Not A Loan
The Pell Partnership, our latest report, has been noted for “debunk[ing] the notion that Pell grants are somehow being wasted.” And it’s true. Quite a few colleges and universities across the country are serving low-income students well — that is, they are graduating them at the same rates as (or in some cases, even better than) their peers from high-income families.
We spoke with nearly a dozen of these schools to learn more about how they recruit, support (academically and financially), and otherwise ensure low-income students a fair chance at a postsecondary degree.
September 26, 2015 by I Am Not A Loan
Several recent reports have estimated a significant gap in the college completion rates of the low-income students who receive federal Pell Grants and other college students, leading some to question the effectiveness of this investment of taxpayer dollars. But, according to a new report and online data tool we’re releasing today, the average graduation gap between Pell and non-Pell students at the institutional level is much smaller: only 5.7 percentage points.
September 24, 2015 by I Am Not A Loan
When colleges shutter their campuses, who’s harmed the most? Students are, especially low-income students. They are the ones with the least protection. That’s why it was so refreshing to see Rep. Bobby Scott (D-Va.) and Sen. Barbara Boxer (D-Calif.) stand up for them by introducing the “Pell Restoration Act of 2015,” which will allow Pell Grant recipients the ability to continue their education at another institution.
September 08, 2015 by Gail Zuagar
See how holding down a job can negatively impact Pell students' chances of graduating.
August 31, 2015 by I Am Not A Loan
Since Hechinger Report released its analysis on the graduation rates of Pell Grant recipients, some people have called the effectiveness of the Pell Grant program into question. Lost in those arguments, though, are three crucial points about the program:
August 27, 2015 by I Am Not A Loan
Did you see Young Invincibles’ #MillennialMon Twitter chat on Solving the Student Debt Issue?
August 24, 2015 by I Am Not A Loan
The Hechinger Report just published an article on the graduation rates of Pell Grant recipients at 82 of the largest public and private institutions in the nation. Considering nearly 9 million low-income students receive Pell Grants annually, it’s a topic that we care deeply about. In fact, we’ve spent the last year collecting and analyzing the graduation rates of these very students. And, in a few weeks, we’ll share what we found.
August 04, 2015 by Gail Zuagar
Recently we shared two of the films in a series produced by the Lumina Foundation and the Institute for Higher Education Policy. The series — Looking Back to Move Forward: A History of Federal Student Aid — provides insight into the evolution of financial aid through first-hand experiences with the policymaking process.
July 13, 2015 by I Am Not A Loan
Over 40 million Americans are working to repay more than $1.2 trillion in outstanding student loan debt.
Some borrowers have already shared with us their experiences with their student loan servicer (the company that sends a bill each month). We’ve released the first batch of your stories and we encourage you to take a look at what we’re hearing from the public at regulations.gov.
June 30, 2015 by Lynn Jennings
Corinthian Colleges has become the poster child for what’s wrong with the for-profit college industry. It misrepresented its job placement — the eligibility criteria for it to receive federal funds — and abruptly closed its doors when the federal government demanded some accountability.
The immediate victims of this business’ collapse are the thousands of students left with debt, worthless degrees, or both. The secondary victims are taxpayers.
June 19, 2015 by Gail Zuagar
If you’ve been following #highered on social media lately, you may have noticed that college affordability and student loan debt are attracting attention of the 2016 presidential contenders. Many candidates harp on colleges to lower costs and on states to increase their funding, but any solution to making college more affordable needs to do more...
June 08, 2015 by I Am Not A Loan
Earlier today, the U.S. Department of Education announced new steps to protect students from abusive for-profit colleges, as well as a new debt relief process for students at Corinthian Colleges – which operated schools under the names Everest, Heald, and Wyotech.
Information for borrowers is available at the Federal Student Aid (FSA) website...
June 02, 2015 by Gail Zuagar
When I was a high school senior (many moons ago), I thought I was well-equipped to make the best college choice for me. I had read the brochures (Google wasn’t a thing back then); talked with my school counselor as well as friends and family; and visited campuses to check things out in person. After doing all of that and receiving acceptance letters and financial aid packages, I made a decision...
June 01, 2015 by Meredith Welch
College Results Online has been updated with the most recent data from the federal government (2012-13), giving you even more information to compare in this one-stop shop tool. At CollegeResults.org — now in its 10th year of compiling and sharing critical information on colleges across the country — you can select nearly any four-year college or university and compare its graduation rate with that of similar institutions serving similar students.
May 13, 2015 by Gail Zuagar
The last time we checked in, we shared Part 3 of the Lumina Foundation and Institute for Higher Education Policy’s Looking Back to Move Forward: A History of Federal Student Aid. It’s a great documentary series on the evolution of federal student aid.
May 11, 2015 by Gail Zuagar
If you live in Milwaukee or plan to be there this week, consider joining the Consumer Financial Protection Bureau for a public hearing on student debt this Thursday.
May 07, 2015 by I Am Not A Loan
When you’re told that your college will be shutting down, there can be a lot of uncertainty about what comes next. In light of recent closures of certain for-profit colleges, we wanted to share some helpful advice to help you navigate the situation.
May 05, 2015 by Gail Zuagar
Imagine this: You’re 24, have your high school diploma, and have been working in a low-wage job for six years when you see an advertisement for a new career training program at a local, for-profit university. The ad promises to teach the latest, cutting-edge skills that will guarantee you a high-paying career...
April 23, 2015 by Gail Zuagar
Have you seen The Lumina Foundation and the Institute for Higher Education Policy’s film series, Looking Back to Move Forward: A History of Federal Student Aid? The four-part series provides insight into the evolution of federal student aid over the last 60 years.
Pell Grants have helped millions of students from low-income families attend college. But you’ll be surprised to see the struggle that the program had to go through to become what it is today.
April 09, 2015 by I Am Not A Loan
November 10, 2014 by
If you work hard and follow the rules, you too can “move on up” from a working class neighborhood in Queens to a deluxe apartment in the skyline of Manhattan’s Eastside, just like The Jeffersons.
At least that’s how the story goes.
June 02, 2014 by
University Does Not Do Enough to Accommodate First-Generation Students
This blog was cross-posted from The Chicago Maroon, by Lynda Lopez
Recently, UChicago has shown an increased commitment to recruiting low-income students through initiatives such as QuestBridge and UChicago Promise. Fifty-one students in the Class of 2018 received full four-year scholarships through QuestBridge, the highest among all 35 partner colleges; 73 students in the Class of 2017 benefited from UChicago Promise, which includes a guarantee of no loans for Chicago residents who attended Chicago high schools and are admitted to the College.
All these initiatives are great, but what happens after these students arrive on campus? Many of them are also first-generation, meaning they are the first in their families to attend college.
Being a low-income, first-generation college student can be like jumping into a pool without knowing how to swim. As the daughter of immigrants with no college graduates in my family, I didn’t have a good idea of what to do once I was here. I didn’t know how to ask professors or TAs for help or how to pick the right classes. Everything was foreign to me.