Loan programs

After online petition, bank forgives dead student's loans

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KeyBank, an outlier in the lending industry, for years required the co-signing parent of one dead student to make payments on $50,000 of debt. The bank acquiesced after an online petition went viral.

Education Department Admits Flawed Data in Gainful Employment Analysis

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The Department of Education admits failing to include black students in its calculation of loan repayment rates in run-up to gainful employment. The mistake will fuel for-profit claims of unfair treatment by feds.

Budget compromise would preserve maximum Pell grant, NIH funding

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A budget compromise would slightly increase funding for the National Institutes of Health and change eligibility for the largest federal grant program for college students.

U.S. House votes to change college tax breaks, boost student loan counseling

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Lawmakers' overhaul of higher education tax benefits gives colleges and universities things to cheer and protest. They also approve a bill to boost student loan counseling. 

Report: Minority community college students denied access to federal loans

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An advocacy group's new report shows that nearly a million community college students -- including a disproportionate share of underrepresented minorities -- lack access to federal student loan programs. 

ITT's federal compliance scramble differs from Corinthian's shut down

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ITT's missed deadline with the Education Department prompts comparisons to Corinthian Colleges. But ITT is on firmer ground.

Senate Republicans block student loan reform legislation

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Senate Republicans prevent passage of legislation to let student loan borrowers lower their interest rates.

Consumer Protection Bureau says some private loan borrowers face co-signer issues

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Federal officials say that some lenders, when a student's loan cosigner dies, declare an automatic default -- with no chance for the student to pay off what is owed.

Education Department plans to change how it oversees loan servicers

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Education Department plans changes in how it evaluates student loan servicers. Consumer advocates and some members of Congress have criticized the department's oversight of the companies. 

Education Department official defends agency's loan servicing contracts

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Several Senate Democrats had pointed questions for the Education Department over how it oversees the companies that manage student-loan borrowers’ payments.

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