In our news wrap Tuesday, the University of Oklahoma expelled two students for leading a racist chant at a fraternity event. The president of the school has said others may face discipline as well. Also, President Obama laid out a series of changes to the student loan system, calling for better treatment of Americans burdened with student debt and more transparency from lenders. Continue reading
ATLANTA — Issuing a clarion call to Americans saddled by student debt, President Barack Obama urged student borrowers Tuesday to stand up for their rights, and announced a medley of modest steps to bring some order to a notoriously chaotic system.
Student loan balances climbed to $1.2 trillion at the end of 2014, and delinquencies are rising even as they fall for most other types of debt. In fact, students with the smallest balances are most likely to default. Judy Woodruff learns more from Megan McClean of the National Association of Student Financial Aid Administrators and William Elliott of the University of Kansas. Continue reading
When letters of admission go out soon from colleges and universities to hopeful applicants, they’ll be quickly followed by offers of financial aid some advocates for students say require a college degree to understand. Continue reading
Average wealth in America has grown over the past 50 years, but not at the same rate for everyone. Wealth gaps, especially between whites and non-whites, are growing. In 2013, the average white family had seven times the wealth of average African American families and six times the wealth of Hispanic families, according to an Urban Institute analysis released Wednesday. Continue reading
Millions of Americans live with student debt for years, even decades after they graduate from college. Now, two of the nation’s largest private student lenders have introduced options to allow borrowers to modify the terms on their loans. NewsHour’s Hari Sreenivasan speaks with Marian Wang, a reporter with ProPublica and AnnaMaria Andriotis of the Wall Street Journal. Continue reading
WASHINGTON — Rosemary Anderson could be 81 by the time she pays off her student loans. After struggling with divorce, health problems and an underwater home mortgage, the 57-year-old anticipates there could come a day when her Social Security benefits will be docked to make the payments. Continue reading
Through the recession, college tuition skyrocketed at public universities to make up for flagging state funding. Some students who borrowed to keep up with rising costs face crushing debt repayments. Hari Sreenivasan travelled to Wisconsin to report on one group hoping to turn the state’s student borrowers into a powerful voting bloc. Continue reading