The Department of Education proposed a new rule stripping federal loan eligibility from undergraduate programs that fail to provide graduates with higher earnings than a high school graduate.
Let's be honest, the term "higher education" is a misleading and hierarchical label that elevates traditional college pathways over equally valid trade and career pathways.
New college graduates are entering a tougher job market, with unemployment running higher than the overall workforce. Experts say joblessness can hit them especially hard because many have limited savings and college debt.
Starting July 1, loan servicers will begin issuing notices giving borrowers 90 days to select a new plan that will mean higher monthly payments for most of those borrowers.
As higher education rebounds from the pandemic dip and amasses more nontraditional learners, here are some data points that can win over more skeptical students and their families.
The Treasury Department has a key power to collect the debt as its agency includes the Internal Revenue Service. The IRS wields the power to garnish up to 15% of a delinquent borrower's paycheck.
