New Report Shows Cost—Not Revenue—of Federal Student Loan Program
A report from the Government Accountability Office shows that while the Federal Direct Loan Program was originally estimated to generate $114 billion over 25 years, it has actually cost the government an estimated $197 billion. The swing was driven by programmatic changes and new estimates using revised economic and loan-performance data.
Bill Clarifying VA 85-15 Reporting Exemption Becomes Law
In an advocacy win for higher education, the legislative fix clarifies that institutions whose veterans make up 35 percent or less of the school’s total enrollment will not have to submit headcounts to the VA on a program-by-program basis.
CFPB Describes Transcript Holds as “Abusive”
A recent report from the consumer watchdog calls on schools to discontinue blanket policies for withholding transcripts as a tool to force students to make payments. NACUBO plans to respond with a letter expressing concerns with the CFPB’s position.