Broward College paid $5.6 million after a federal government review determined that more than 2,000 students received financial aid they weren’t entitled to.
The payment, imposed by the U.S. Department of Education, is significantly more than the $18,000 the college said in 2015 that it would likely have to pay after an initial federal review. At that time, the college acknowledged only that eight students were improperly paid.
ALBANY — Gov. Cuomo on Friday unveiled set of measures intended to aid New Yorkers struggling with "exploding" student loan debt.
The proposals, which will be part of Cuomo's State of the State Address next week, include new financial disclosure requirements for colleges and universities, and new consumer protection standards for the loan industry.
Student loan debt continues to be a huge burden for many Americans.
Graduates in the Northeast have more debt on average, while those in the Southwest had the least on average.
Families in the Northeast tend to spend more on college than those in other parts of the country.
Student loan debt continues to be big problem in America.
The national student debt now totals over $1.4 trillion, with the average per graduate in the US at $17,126. Student debt can create obstacles for people wanting to buy a house or start a family after graduation.
On Tuesday, a whistleblower released records revealing that for over a decade, financial aid employees of Howard University had misappropriated financial aid funds. The allegations, published in a Medium post, have since been taken down.
Howard University President Wayne Frederick confirmed the news that financial aid misappropriation had occurred in a statement released on Wednesday, saying, "While this has been a very difficult and disappointing situation, I know our campus community deserves better."
Howard University students have reached day two of a sit-in at the institution’s main administrative building after six university employees were fired over a financial aid scandal.
It is now the fourth quarter of 2017, and despite all of the coverage surrounding the issue, student loan debt has not subsided whatsoever. In fact, it is still a leading form of debt in the United States as well as a considerable topic of debate in politics.
Plenty of politicians have put forward different plans addressing a variety of issues - including tuition, general reform, and student loan refinancing. Many have failed outright, while others gained attention without producing results in the end.
ANN ARBOR, MI - The University of Michigan is paying the full tuition of around 1,700 in-state students this semester who qualified as the first recipients of the Go Blue Guarantee initiative the university approved last summer.
Even by government standards, it is a colossally dumb idea: revoking someone's license to work as a way to get them to pay off their student loans. Yet many states do just that.
State lawmakers, including some of the most conservative members of the Texas House, say changes should be made to a state statute that bars workers from renewing their professional licenses if they are in default on their student loans.
Forty-four million Americans hold a total of $1.3 trillion in student loan debt. According to the Federal Reserve, the average amount of debt held by student loan borrowers is $32,731, and the average monthly amount due is $393.
Of these borrowers, 19 percent are behind on their payments.
If you miss a payment on your federal student loans, you have 270 days to make a payment before your debt goes into default. More than 3,000 people default on their federal student loans every day.
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"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
The road to success is always under construction
– Lily Tomlin
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
