Weekly Roundup

Colleges and Lenders Should Adopt Regulations Now, Spellings Says in Letter

Though new Education Department regulations on federal student loans do not go into effect until next July, colleges, lenders, and guarantee agencies should begin following them now, wrote…

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Ed Dept. Exercises Little Oversight in FFELP Market, Report Says

The Department of Education has failed to provide adequate oversight over the lenders that participate in the Federal Family Education Loan Program (FFELP), according to

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Senate Unanimously Passes Bill to Reauthorize the Higher Education Act

By a vote of 95 to 0, the Senate unanimously approved legislation Tuesday that would impose new restrictions on the relationships between student loan providers and colleges,…

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Senate Passes Bill to Cut Lender Subsidies

By a vote of 78 to 18, the Senate approved a budget reconciliation bill in the wee hours of Friday morning that would slash $18.3 billion from the subsidies that…

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House Passes Bill to Cut Lender Subsidies and Help Students

Amid cheering, jeering and impassioned speeches, the House of Representatives approved legislation on Wednesday that would reduce lender subsidies by about $19 billion over five years and…

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Supreme Court Rules against Voluntary Desegregation Programs; Leaves Affirmative Action Intact

The U.S. Supreme Court ruled on Thursday that school districts can no longer use race as a factor in assigning students to K-12 public schools. However,…

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Senate Moves to Slash Loan Subsidies

The Senate Health, Education, Labor and Pensions Committee easily passed legislation on Wednesday that would reduce lender subsidies by over $18 billion over five years and use the savings to…

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House Committee Embraces New America's Loan Auction Proposal

The House Education and Labor Committee has embraced the New America Foundation's proposal to use an auction mechanism to set student loan subsidies. The Committee unanimously adopted…

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At Senate Hearing, Cuomo Criticizes Federal Regulators, Starts Investigation of Student Loan "Redlining"

The U.S. Senate Banking Committee held a hearing on private student loans on Wednesday that focused on what role the federal government can…

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Shaw Received $250,000 in Government Bonuses

Theresa Shaw, the chief operating officer of the Department of Education's Office of Federal Student Aid who announced her resignation last week, took home more than $250,000 in performance bonuses over…

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