IRS Reminds Students of ''Tax-Advantaged Education Expenses''
On September 11th, the IRS news release ''Back-to-School Tax Breaks Help Teachers Pay Classroom Costs; Aid Parents, Students With College Tuition'' stressed the importance of saving receipts and maintaining expense records to take full advantage of deductions on educational expenses and credits available on federal income tax returns for 2007.
Effects of the New Legislation
President Bush has agreed to sign The College Cost Reduction Act of 2007 despite his initial opposition to it and fear that it will bring far-reaching changes to federal student loan programs.
Time is Running Out for Student Loan Borrowers to Save Thousands on Federal Consolidations!
At Graduate School Loans, our goal is to help our borrowers save as much money as possible on their student loans and manage the debt that can result from student loans. However, it seems that very soon we may not have the option to help our borrowers save thousands on their federal student loan consolidations.
California Students Get Relief, 2007-2008 State Budget Passed
An impasse blocking the approval of the 2007-2008 California state budget that provoked widespread discontentment among students and parents was finally resolved on August 24. Governor Arnold Schwarzenegger approved the state budget after a 52-day deadlock, enabling students to access state grants just as their fall semesters began.
HEWI Reports Numerous Schools Offer No Choice of Lenders to Students
A large number of colleges and universities participating in the Family Federal Education Loan Program reportedly offer no choice of lenders to their students. According to a document obtained by Higher Education Washington, Inc., (HEWI) from the Department of Education, about 300 (32.5%) of the schools regarding which HEWI received information have 100% of their loan volume with just one lender.
Study Finds More Preparation Needed for Transition from High School to College
A recent study conducted by Policy Analysis for California Education (PACE) found that the first semester of college is a pivotal period in students' academic careers. The study, titled ''Beyond Access: How the First Semester Matters for Community College Students' Aspirations and Persistence,'' followed first-time students enrolled in California community colleges aged 17 to 20 in the fall of 1998. The study, based on system data gathered over a six-year period, tracked graduation and retention rates of first-year students to arrive at its findings. The findings of the study suggest that it is most important to focus on preparing high school students for college and that simply increasing college access doesn't solve the problems faced in building a more educated population and workforce.
The College Board Will No Longer Serve as FFELP Lender
The College Board was founded in 1900 as a not-for-profit association aiming to ''connect students to college success and opportunity.'' Currently, the association includes more than 5,200 schools, colleges, universities, and other higher education institutions. It serves nearly 7 million students and their parents through a range of education-related programs and services. More than 23,000 high schools and 3,500 universities benefit every year from its efforts.
Spellings announces $12 million in grants for tribally controlled schools
Nine tribally controlled colleges and universities will receive federal grants worth nearly $12 million. U.S. Secretary of Education Margaret Spellings announced that the grant, provided under Title III of the Higher Education Act, will allow colleges and universities to develop activities to improve and expand their services for students with Native American heritages.
Scam Artists Targeting College Students Seeking Financial Aid
According to the Better Business Bureau, consumer complaints against loan, grant, and scholarship services increased by 60% in 2006 across the U.S. Steve Cox, spokesperson for the BBB, said, ''There are many unscrupulous businesses and outright scams taking advantage of overwhelmed parents who are just trying to put their child through school.''
Spellings Urges Colleges and Lenders to Comply with New Loan Rules
U.S. Secretary of Education Margaret Spellings sent out letters to colleges, universities, lenders, and guarantee agencies that participate in the federal guaranteed student loan program. The letters urge them to work together on the principles of the new regulations that the department proposed in June. However, the regulations, in light of the congressional ''sunshine'' acts and New York Attorney General Andrew Cuomo's code of conduct, will not be effective until July 2008.
Nelnet Receives Double Whammy: Will pay $1 Million Settlement to Joe Bruning in Addition to Original $2 Billion Settlement
Nelnet is a leading student loans company in the United States that has diversified business interests in student loan generation, loan servicing, secondary market activities, and guarantor servicing. With offices located all over North America, it believes in making educational dreams possible for students across the United States.
Senator Herb Kohl introduces bill to help students remain out of debt
Predatory lending is the use of unethical lending tactics to keep gullible borrowers in debt as long as possible. Predatory lenders usually target vulnerable groups like students, the elderly, minorities, and people with poor credit records.
Cuomo investigates Division I athletic departments
New York Attorney General Andrew Cuomo has launched investigations to find out whether Division I athletic departments have led athletes and other students to education loan providers in exchange for questionable benefits.
Ithaka Advocates Online Publishing by Universities
Scholars studying at American universities have a wide range of avenues available to them for distributing their scholarly work. The Internet has added an extra dimension to their endeavors, extending the concept of academic publishing to include ''virtual'' publishing.
The NSSE and USA Today Introduce College-Assessment Initiative
Mired in controversy and escalating criticism from college authorities, rankings of institutions of higher education can be unreliable. Students and parents are forced to grope in the dark when it comes to what they pay to and what they receive from colleges.
President Bush Threatens to Veto Appropriations Bill for Departments of Education, Labor, and Health and Human Services
The U.S. House of Representatives recently voted to approve a 2008 spending bill for the Departments of Education, Labor, and Health and Human Services. This bill proposes increasing the maximum Pell Grant by $390. Additionally, it includes an increase of $2 billion for the No Child Left Behind Act and proposes increasing funding by more than $227 million for a variety of programs addressing issues such as employment, job training, and worker protection.
Failure to Comply with Clery Act Costs Board of Regents President His Job at Eastern Michigan University
Failure to comply with the Clery Act in the wake of 22-year-old Laura Dickinson's murder recently cost John A. Fallon his post as president of the board of regents at Eastern Michigan University.
Virginia launches six-year plan to align K-12 standards with university-level education
It's no secret that Americans depend on schools to prepare their children for higher education and gainful employment. Recently, the State Council of Higher Education for Virginia (SCHEV) proposed a six-year plan to match K-12 teaching with university-level education. The plan, which would begin in 2007, aims to improve schools so that the schools, in turn, can better prepare students for college educations and ultimately enable them to become members of what the plan hopes will be a stable, dynamic workforce. Among the plan’s goals is also improving financial aid for Virginia’s students, in addition to the following:
New study says citizens in a dilemma
A new survey by Country Insurance & Financial Services shows that citizens are split over the goals of their savings. Out of 3000 adults surveyed, 43% say that saving for their children’s college educations is more important than anything else, while another 43% considers saving for their retirement more important. Moms ruled overwhelmingly in favor of their children, with 49% of moms saying that saving for the education of their children is more important than other considerations, compared to 39% of dads who agreed on the issue.
College Admissions Are Still Beyond the Reach of the Economically Underprivileged
College education is still a dream for almost 20 million of the nation's working poor adults, according to a report released on July 7 by the Institute for Higher Education Policy (IHEP). IHEP reports that in 2005, working poor adults between the ages of 24 and 64 earned an average salary of $19,000 per year compared to an average salary of $56,000 for non-poor adults. Even with monetary aid, studying at a state university is beyond the means of most working poor adults. The average cost of tuition and fees at universities stands at about $13,000, which is excessive for those with low incomes.
Support for DREAM Act Strengthens in California
Students from across California accompanied by immigrants' rights activists gathered at San Francisco's Civic Center to show their support for the DREAM Act. The students, who went on a week-long fast, came from such far-flung areas as Orange County, Los Angeles County, the Central Valley, and San Jose.
New Hampshire University System Approves Tuition and Aid Increase
The University System of New Hampshire’s board of trustees has approved a budget that includes a nearly 7% tuition hike for 2007-2008 in-state students. The budget also includes a 5.2% increase in tuition for out-of-state students along with an 11.3% increase in student financial aid. The university system has been increasing tuition and aid since 2000. Since then, tuition has risen by about 6% each year, while financial aid has increased by about 12%.
Supreme Court's Ruling May Lead to Reduced Racial Balancing Efforts at Schools
On Thursday, the Supreme Court returned a five-justice-majority ruling stating that students cannot be admitted to schools on the basis of race. This decision addressed practices followed by public schools in Seattle, Kentucky, and Louisville. Public schools in these states had adopted voluntary programs to achieve racial diversity in the classroom.
The Focus is Now on College Performance
Congress and the U.S. Department of Education are considering moves that would force colleges to publish information about their performance.
Oregon Students to Benefit from Increased Student Aid
Students in Oregon will now be eligible for increased financial aid following the passage of new legislation by the Oregon State Legislature. The Oregon State Assistance Commission (OSAC) is responsible for disbursing student aid in the state of Oregon. Created by the Oregon legislature in 1959, the commission administers a range of state-funded and privately funded aid programs for the benefit of Oregon students interested in postsecondary education.
Northern Illinois University Students Face Tuition Hike
According to members of the board of trustees of Northern Illinois University (NIU), the disparity between the rates of inflation and state funding can be made up for only by raising tuition fees.
North Texas Students Now Eligible to Attend North Texas University for Free
A significant number of American students resort to financial assistance to fund their educational needs. This includes a variety of sources, such as loans, grants, and savings. College education in the United States can cost between $10,000 and $30,000 per year. This usually does not include costs such as accommodations, travel, and other living expenses. Many students seek employment while attending college to defray their education-related expenses.
New Legislation Introduced to Forgive Private Student Loans upon Bankruptcy
This week, legislation was introduced by Illinois Senator Dick Durbin (D) that would allow private student loans to be forgiven upon bankruptcy. Currently, neither private nor federal student loans will be discharged for a borrower who files for bankruptcy, with the rare exception of extreme hardship.
PHEAA Spends More Than $400,000 in Legal Fees to Cover Lavish Expenses
The Pennsylvania Higher Education Assistance Agency (PHEAA) spent more than $400,000 in legal fees in an effort to keep its travel expenses out of the public eye. Nevertheless, last week, the Pennsylvania Supreme Court ordered PHEAA to disclose the same information that it spent more than $409,000 to keep hidden.
Study Shows Half of 2007 Graduates Have Jobs
A recent study shows that more than half of 2007 graduates had full-time jobs lined up prior to graduating this spring. According to the preliminary results of a study conducted by the National Association of Colleges and Employers (NACE), 51.2% of graduates who had searched for jobs had accepted jobs in early May. Additionally, close to 30% more had offers that they had not yet accepted.