Student loan auction proposal stirs opposition
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A proposal to test a radical change in the U.S. student loan industry by putting it on the auction block is set to pit Democratic lawmakers against the Bush administration and the banking industry.
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Higher education staff are being urged to oppose government plans to tackle campus extremism.
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Many low-income students are unaware that they are eligible for grants, says a university watchdog.
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RICHMOND, Feb. 13 -- Members of the Republican-controlled House Appropriations Committee criticized the Kaine administration Wednesday over a budget-balancing proposal that would cut aid to public schools, colleges and local governments to make up for a $1.4 billion shortfall while keeping funding...
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Two Democratic members of Congress and New York Attorney General Andrew Cuomo have asked the biggest student lenders for information on criteria used to price college loans.
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The investor group led by J.C. Flowers  & Co. that agreed to buy out student loan firm Sallie Mae for  $25 billion said proposals to cut government subsidies to  student lenders could threaten the deal, Sallie Mae said on  Wednesday.
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The trade group for university financial aid officers said yesterday that it would no longer allow student loan companies to court its members with gifts or sponsor its conferences, responding to a spate of revelations of conflicts of interest in the $85  billion-a-year industry.
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Educators nationwide are protesting a Bush administration move to curtail hundreds of millions of dollars in Medicaid funding for disabled students that could force some schools already in budget straits to trim health services or cut back instructional programs.
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The Senate debated a wide-ranging overhaul of student loan programs yesterday that would pay for more than $17 billion in grants and other student aid by slashing subsidies to lending companies.
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Congress is trying to end a practice that unintentionally has allowed banks to take in billions of dollars meant to help students pay for college.
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The contentious debate over paid admission at t
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President Bushâs call for a $400 million program to use tax dollars to help parents send their children to private or religious schools was quickly denounced by some top Democrats.
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Sallie Mae's chairman yesterday said the student loan giant had offered to consider a new bid from buyout firm J.C. Flowers & Co., only to be rebuffed.
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House Democrats pushed through legislation yesterday that would boost government-subsidized student loans and other college financial aid by $18 billion over the next five years, despite strong opposition from Republican lawmakers and a White House veto threat.
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US Education Secretary Margaret Spellings, criticized for her oversight of the $85 billion-a-year student-loan industry, proposed banning company gifts to colleges and establishing rules for how schools recommend lenders.
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On the heels of a student loan scandal, some higher education officials have called a conferenceâs format deeply troubling.
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The Bush administration on Monday proposed cutting subsidies and fees collected by institutions that make college loans, sending sector leader Sallie Mae's  stock price reeling.