On August 24, 2022, President Biden announced that his administration would be cancelling $10,000 -- $20,000 of student debt for middle- and lower-income borrowers. Naturally, this announcement has unleashed a wave of follow-up questions among borrowers. This fact sheet is intended to help Californians with student loans navigate the process of…

Recent changes to the federal student loan program will affect student loan borrowing, repayment, and debt. Payments on student loans, which were suspended during the coronavirus pandemic, restarted in October 2023. A new repayment plan introduced in August 2023 will significantly reduce interest accrual and payments for certain borrowers.…

Today, approximately 43 million Americans hold a federal student loan. When these borrowers fall behind on payments, they become delinquent on their loans; once the loans reach 270 days past due, borrowers are in default. As of March 2021, roughly 1 in 5 borrowers was in default, according to data from the U.S. Department of Education. Failing to…

A college education is an investment in the future of every student who pursues one, but it does not come cheap. College expenses include tuition, fees, books, equipment, and room and board, if a student chooses to live on campus. These all add up, and every student must determine where the funding for college will come from. Students with…

Many college students, especially students from low-income backgrounds, face significant structural barriers that make it challenging to persist and complete a degree or certificate. These barriers include substantial financial challenges. Student financial aid at the federal and state levels has not kept up with rising college costs, resulting in…

Pursuing new, commonsense approaches to education reform and work-family policies, from childcare and early education through higher education and workforce flexibility, will foster the conditions for family flourishing and increase birth rates for married couples. Affordable childcare from a variety of providers, including at-home options, access…

Postsecondary education in the United States has historically been the bedrock of individual social mobility and collective economic growth. Toward that end, policies at the state and federal levels have for decades sought to expand the reach of postsecondary education so as to provide individuals and communities with pathways to prosperity.…

This document records testimony from a hearing before the Committee on Education and Labor to examine the policies and priorities of the United States Department of Education. Member statements were presented by: (1) Honorable Robert C. Scott, Chairman, Committee on Education and Labor; and (2) Honorable Virginia Foxx, Ranking Member, Committee on…

This paper examines the U.S. social insurance system, which we define broadly to include both programs supported by dedicated taxes and other federal programs that provide income support, assistance in meeting basic needs, or services to improve economic opportunity. The paper considers the social insurance system as a whole as well as its…

Although default rates have decreased in recent years, community colleges still struggle to keep their rates in check: 18.5 percent of borrowers from public two-year colleges default within three years compared to the national average rate of 11.3 percent. In 2015, the Association of Community College Trustees (ACCT) published "A Closer Look…

"A Closer Look at the Trillion: Borrowing, Repayment and Default at Iowa's Community Colleges," takes an unprecedented look at community college student borrowing and repayment behavior. The report uses data from all 16 community colleges in Iowa to examine the characteristics of borrowers and defaulters to help colleges and policymakers…

The ethnic and racial diversity of the residents of the United States of America is one of the country's unique strengths; however, Black, Latinx, Pacific Islander, Native, and certain Asian American workers face wide racial inequities in educational attainment, employment, and income. Additional workforce policies are needed now to counter…

This hearing is the third in a series examining critical issues in postsecondary education as the committee looks to reauthorize the Higher Education Act. The topic discussed is of paramount importance and is arguably the bedrock of Federal higher education policy, that is, the Federal financial aid programs and their effectiveness in providing…

In today's knowledge driven economy a college degree is critical to the success of a competitive workforce. Yet in 2008, only 19 percent of Latinos, 29 percent of blacks, and 39 percent of whites 25 and over had earned an associate degree or higher. At a time when all students will have to accelerate success to meet national degree completion…

Determines comparative benefits to public and private institutions as derived from Title IV federal direct student-aid policy. Postsecondary entrance rates for students (all incomes) have improved, but the goal of expanding educational opportunities for lower-income students has not been achieved. Findings uphold M.M. Chambers's inflationary…