"At a time when the amount of defaulted federal student loans continues to climb, the Education Department has been forced to pay private debt-collection agencies based on self-reported estimates of their commissions and bonuses, not precise data, due to glitches in an online debt-management system it launched more than a year ago," The Chronicle o […]
"As student debt levels reach new highs – the total outstanding debt just topped $1 trillion – it’s hard to argue that the current model of financial aid isn’t in need of a fix...Raise Labs, a San Francisco-based startup backed by the Imagine K-12 ed tech accelerator, is bringing another model into the mix," GIGAOM reports.
"A clear divide has emerged in the debate over the interest rates on federal student loans. In one camp are House and Senate Republicans, along with President Obama; in the other are the congressional Democrats," New America Foundation's Ed Money Watch blog reports.
This past week has seen the release of several proposals to address the subsidized Stafford loan interest rate increase scheduled to occur on July 1. To easily compare the provisions of these multiple proposals, NASFAA has created a chart that summarizes the basic tenets of each.