Help on the way in May?
-Stories and opinions on President Obama's proposed financial aid changes from The Washington Post (and another), The Chronicle of Higher Education, the Miami Herald, Bloomberg, and The Washington Independent.
-A story on rising default rates from the Times-Herald Record.
-Help may be on the way for teachers in the form of loan forgiveness. Could help also be on the way for all of us in the form of income based repayments? More here, here and here. Also Illinois Senator Dick Durbin has proposed legislationthat would reverse the bankruptcy law that excludes federal student loans.
-More shady hijinks appear to be afoot in the student loan industry - Phillip Day, former Chancellor of City College of San Francisco turned head of the National Association of Student Financial Aid Administrators, is being investigated for potential fundraising abuse/misuse of public funds. More here. Someone in the student loan/higher education industry having crooked dealings? The hell you say!
Student Loan Debt Clock: $580 billion.