In the Education Department’s Federal scholar help seminar the other day, three of us sat straight down at a late-add session on an innovative new and unprecedented experiment the Department is intending to implement, using the reported objective of increasing “institutional investment in pupil success. ” The presentation offered some long-sought understanding of an astonishing statement about feasible federal funding for income-share agreements created by a high-ranking Department official at a meeting previously this year. In addition to information that is new through the session proved concerning: the Department intends to oversee a perversion regarding the federal loan system for which, basically, federal loan dollars may be used to invest in personal education loans. Naturally, this statement raised huge concerns.
In a nutshell, the test allows chosen organizations to skirt two loan that is federal. The initial of the guidelines enables universities to deny or lessen the quantity a student that is specific borrow on a case-by-case foundation, with paperwork. The test would allow participating schools wider authority to rather lessen the level of federal loans available by whole categories of pupils in the past, such as for example by system kind. Continue reading “Education Department Proposes to Repurpose Federal Student Education Loans as Private Loans”