Education Department Issues Rules for Student Loans
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The action was a change in direction for the department, which had failed to respond to calls for it to be more aggressive in policing the industry.
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By James Salzer, The Atlanta Journal-Constitution  Feb. 19--Gov. Sonny Perdue wants to put an additional $700 million into  education next year, but Georgia's technical colleges might wind up having to  lay off faculty and close programs to make ends meet.
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The chairman of the House education committee called yesterday for an investigation into whether nonprofit student loan companies are abusing their tax-exempt status.
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Secretary of Education Margaret Spellings vowed to implement some of the measures recommended by a federal panel, the Commission on the Future of Higher Education.
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President George W. Bush signed student loan legislation on Thursday that slashes federal subsidies to lenders such as Sallie Mae, Citigroup, Bank of America and many others.
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As tuition has soared past the limits on federal aid, more students are relying on barely regulated private loans.
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Amid widespread misconduct in the student-loan industry, college kids are learning about private lending the hard way
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College graduates with heavy student loan debt face a complicated landscape this year as they approach the annual decision whether to consolidate their loans into a single payment plan.
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Columbia University will overhaul its student loan operation and submit to monitoring by the attorney general for five years, according to a settlement announced today.
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Regulators are set to rule on whether a fee-paying school should continue to enjoy charitable status.
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The measures promise to protect borrowers from prepayment penalties and misleading loans.
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A new report asserts that military recruiters were allowed to use class time to make presentations, in violation of Education Department guidelines.
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The Senate overwhelmingly approved a wide-ranging overhaul of student loan programs early today that would pay for more than $17 billion in grants and other student aid by slashing subsidies to lending companies.
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US universities are 'open for business,' said US education secretary Margaret Spellings as she announced new student exchange initiatives this week.
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Private schools could lend teachers to state schools under proposals by Education Secretary Alan Johnson.
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The U.S. Senate voted on Friday to cut federal subsidies to college student loan firms, such as Sallie Mae, by $18.3 billion, redirect savings to student grants and ease some student loan repayment terms.
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After months of scandal in the student loan business, a federal regulator said on Monday that recent research revealed a potentially worrisome lack of competing lenders at hundreds of U.S. colleges.