Stephen Burd: All Related Content

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NEW REPORT: Colleges Leaving Low-Income Students Behind

May 8, 2013

Washington, DC — In their relentless pursuit of prestige and revenue, American private and public four-year colleges and universities are increasingly using financial aid to attract the best and most affluent students rather than to help low-income and working-class families pay for college, according to a new report released today by the New America Foundation’s Education Policy Program.

UM Doesn't Give Enough Aid To Low-Income Students, Report Says | South Florida Business Journal

May 8, 2013

In the nonpartisan New America Foundation's report “Undermining Pell” author Stephen Burd looked at the trends in federal Pell Grants and determined that more of the financial aid was becoming merit-based, as opposed to need-based for lower income ...

Colleges Soak Poor U.S. Students While Funneling Aid to Rich | Bloomberg

May 8, 2013

The research analyzing U.S. Education Department data for the 2010-2011 school year undercuts the claims of many wealthy colleges that financial-aid practices make their institutions affordable, said Stephen Burd, the report's author. He singled out ...

Low-Income Students Pay High Net Prices At Many Colleges, Study Finds | Chronicle of Higher Education (subscription)

May 8, 2013

In the paper, "Undermining Pell: How Colleges Compete for Wealthy Students and Leave the Low-Income Behind," Stephen Burd, a senior policy analyst at the foundation, evaluates how well individual colleges with varying resources serve low-income ...

Merit Consideration | Inside Higher Ed

May 8, 2013

Stephen Burd, the report's author, is pessimistic that institutions will be able to reverse these trends on their own, saying instead that any change will have to come from state or federal lawmakers. “These actions fly in the face of national goals to ...

U.S. Colleges Using Financial Aid to Lure Rich Students While Shortchanging Poor ... | Washington Post

May 8, 2013

The research analyzing U.S. Education Department data for the 2010-2011 school year undercuts the claims of many wealthy colleges that financial-aid practices make their institutions affordable, said Stephen Burd, the report's author. He singled out ...

Undermining Pell

May 8, 2013
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Nearly fifty years ago, the federal government committed itself to removing the financial barriers that prevent low-income students from enrolling in and completing college. Colleges for years complemented the government's efforts by using their financial aid resources to open the doors to the neediest students. But those days appear to be in the past. With their relentless pursuit of prestige and revenue, the nation's public and private four-year colleges and universities are now in danger of shutting down what has long been a pathway to the middle class for low-income and working-class students.

Today the New America Foundation is releasing Undermining Pell: How Colleges Compete for Wealthy Students and Leave the Low-Income Behind, a report that presents a new analysis of little-examined U.S. Department of Education data showing the "net price" – the amount students pay after all grant aid has been exhausted – for low-income students at thousands of individual colleges. The analysis shows that hundreds of public and private non-profit colleges expect the neediest students to pay an amount that is equal to or even more than their families' yearly earnings. As a result, these students are left with little choice but to take on heavy debt loads or engage in activities that reduce their likelihood of earning their degrees, such as working full-time while enrolled or dropping out until they can afford to return.

U.S. Colleges Using Financial Aid to Lure Rich Students While Shortchanging Poor ... | Washington Post

May 8, 2013

The research analyzing U.S. Education Department data for the 2010-2011 school year undercuts the claims of many wealthy colleges that financial-aid practices make their institutions affordable, said Stephen Burd, the report's author. He singled out ...

Survey Finds Many High School Seniors More Worried About Student-Loan Debt ... | TheBlaze.com

April 5, 2013

Relating a message from a former student weighed down with loan debt, Stephen Burd, senior policy analyst New America Foundation's Education Policy Program, said: “I will never own a home because of this crippling debt.” Is higher education even worth ...

Obama Ends Damaging Student Loan Collections Policy – But Needs to Do More

March 27, 2013

Borrowers with defaulted federal student loans received a rare bit of good news last week: the Obama administration put an end to a policy that improperly enticed loan collection companies to demand excessive payments from borrowers to “rehabilitate” their loans.

Starting this month, the U.S. Department of Education is providing a flat rate commission to the nearly two dozen firms with which it contracts to collect on defaulted loans. These companies will now make the same amount of fees regardless of whether they get a borrower to pay back $5, $50, or $250 per month.

Under federal law, borrowers who default can rehabilitate their loans if they make nine “reasonable and affordable” payments on-time over ten months – clearing their credit records and making them once again eligible for federal student aid. The statute bars collection agencies from demanding minimum payments based on the original loan amounts. Instead, they are supposed to take a borrower’s financial circumstances into account when determining how much that individual can handle each month.

The Education Department’s policy, however, encouraged collectors to demand larger payments than borrowers were legally obligated to pay. According to Bloomberg News, which was the first to report on the Department’s changed policy, here’s how it worked:

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