With the new year comes the not-so-appealing, but critically important task, of filling out the annual FAFSA (Free Application for Federal Student Aid).
These students fall into the category of claiming that the for-profit chain violated their rights.
Education Management Corporation (EDMC), the second-largest for-profit education company in the U.S., is paying $95.5 million to settle charges it falsely obtained federal and state education funds.
Despite a fairly grounded economic recovery since the 2008 financial crisis and Great Recession, the share of millennials living with their parents has surged back to levels not seen since the 1940s.
Americans’ credit balances — not including mortgages and equity lines of credit — jumped by $28.91 billion in September, or 10 percent at an annualized rate, and that’s much more than Wall Street was forecasting.
Tuition and fees at the nation’s private and public colleges continued to rise this year at a rate similar to that of the last two years — and these expenses are outpacing both inflation and household incomes.
A provision in the congressional budget bill allows companies to robocall Americans’ cellphones to collect any money owed to or guaranteed by the government, including federal student loans, mortgages and taxes.
The Perkins aid supported a significant number of low-income students who may not have gone to the schools without the extra funds.
Shackled by their own loans, many parents lack the funds for their children’s educations, unless they opt to sink further into debt.
“With one out of four student loan borrowers struggling to repay their loans or already in default, cleaning up the servicing market is critical,” said CFPB Director Richard Cordray.