For Immediate Release From USDE!
To address the crisis in higher education, faith-based entities can share that, in her remarks at the Department’s annual Federal Student Aid (FSA) Training Conference in Atlanta on Nov. 27, the Secretary warned America’s students and taxpayers of the rising student debt in America. She called the nation’s higher education system “the envy of the world,” but declared, if significant policy changes are not made to the way student aid is distributed and administered, “the program on which so many students rely will be in serious jeopardy.” Indeed, FSA holds nearly $1.5 trillion in outstanding federal loans (more than $10,000 for each and every American taxpayer); only 24% of borrowers are currently paying down both principal and interest; and 43% of all federal loans are considered “in distress” (press release and blog post:
https://www.ed.gov/news/press-releases/us-... utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=).
In response, the Secretary laid out four core principles from which decision-makers can start when taking action to address the problem: human capital; unleashed innovation; more accessible information for policymakers, students, parents, and taxpayers; and the acknowledgement that nothing is free.
In her remarks, the Secretary also highlighted the myStudentAid(https://studentaid.ed.gov/sa/about/announcements/fafsa-mobile-options?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=) mobile application. In addition, Secretary DeVos provided an exciting update on the Department’s evolution to the Next Generation Processing and Servicing Environment (NextGen).
Read the full article HERE!:
https://www.ed.gov/news/press-releases/us-...
Posted By: agnes levine
Thursday, December 13th 2018 at 2:27PM
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