Thousands of students this year unexpectedly had to stay at home, transfer to a less expensive school, or find new money after the U.S. Department of Education quietly changed how it evaluated the credit of parents applying for a federal PLUS loan, reports the Associated Press. The greater scrutiny affected families and schools everywhere, but historically black colleges were hit particularly hard, because so many of their students come from low-income families dependent on PLUS loans. In recent years, as many as a third of all black college graduates had used PLUS loans, a proportion twice as high as the...
Subscribe to Read More
Are You an Educator?
Get Free online access to all our
news and resources and get
eSchool News Today email newsletter