student loan debt burden
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Officials deny petition for simpler student loans
The U.S. Department of Education has declined to implement a recommendation by student groups and lenders to simplify its regulations on student loans and make them more fair.
"We regulate only if absolutely necessary and then in the most flexible, most equitable and least burdensome way possible," the department wrote in a letter to the petitioners June 5. The letter stated the process proposed in the petition was not consistent with those principles.
The petitioners were led by the Project on Student Debt, which conducted a poll in March that found that 64 percent of adults said the federal government was not doing enough to make higher education available to people of all backgrounds. Other petitioners included the College Board, American Student Assistance, Public Interest Research Groups, Great Lakes Higher Education Guaranty Corp., the United States Student Association, College Parents of America, the Council for Opportunity in Education and the Howard Center for Family, Religion, and Society.
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College graduates facing bigger student-loan burdens
DALLAS -- There's no disputing that a college education is a great investment. College graduates can expect to make $1 million more over their lifetime than someone with just a high school diploma.
But more college graduates find it's taking longer to pay for their investment. As student loans have become a larger part of the college-tuition bill, many graduates are leaving school with unmanageable debt levels that can affect their financial security, career and lifestyle choices for years after college.
The trend affects those pursuing careers at both the high and low ends of the income spectrum -- from doctors to teachers and social workers.
The nation's system of financing college tuition has put an increasing debt burden on students and their families.