Month: June 2014

Obama Takes Executive Action on Student Loans

(From The Chronicle of Higher Education) On the eve of a Senate fight over student-loan refinancing, President Obama is taking executive action to ease students’ debt burdens. At a White House event on Monday, Mr. Obama will announce that he will expand a law that caps borrowers’ loan payments at 10 percent of their income to individuals with older loans—those who borrowed before October 2007 or stopped borrowing by October 2011. The president will also announce plans to renegotiate contracts with federal student-loan servicers to provide them with financial incentives to keep students out of default. The percentage of students defaulting …

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New $75 Million GEAR UP Competition Announced

U.S. Department of Education Office of Communications & Outreach, Press Office   400 Maryland Ave., S.W. Washington, D.C. 20202      FOR IMMEDIATE RELEASE: June 3, 2014 CONTACT:  Press Office, (202) 401-1576 or U.S. Department of Education Announces $75 Million GEAR UP Competition To focus on building successful practices aimed at improving college fit and college readiness for underrepresented, underprepared and low-income students across the country, the U.S. Department of Education announced today the availability of $75 million for two new Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP) competitions. At the Obama Administration’s College Opportunity Summit earlier this year, the Department made …

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