Education news and discussion

weatheriscool
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Biden's student loan relief plan will mainly help working and middle class borrowers, report finds
Source: CNN

By Tami Luhby,

(CNN) President Joe Biden's student loan debt relief plan is expected to help mainly working and middle class borrowers, an updated report from an influential research group found. That's a shift from its earlier projection that more higher-income borrowers would benefit from basic loan forgiveness.

About 75% of the benefit will go to households making $88,000 or less per year, according to the Penn Wharton Budget Model analysis released Friday.

The three-part relief package could cost up to $605 billion over 10 years, though the price tag could exceed $1 trillion depending on how the proposed income-driven repayment program is actually set up and how many people participate, Penn Wharton found. That's substantially higher than its initial estimate of a less comprehensive debt relief plan.

The revised report takes into account the plan's provision that would forgive up to $20,000 of debt held by those who qualified for Pell grants as undergraduates, as well as the measure to forgive up to $10,000 for those who did not receive such grants.
Read more: https://www.cnn.com/2022/08/26/politics ... index.html
weatheriscool
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Student loans: Education Department discharges $1.5 billion for 79,000 former Westwood College students

Ronda Lee
Tue, August 30, 2022 at 1:24 PM
The Education Department (ED) is discharging $1.5 billion in student loans for 79,000 former defrauded students who attended for-profit Westwood College from January 1, 2002, through November 17, 2015, when it stopped enrolling new students before closing September 2016. ... Even if borrowers have not applied for a borrower defense discharge, relief will be granted without any additional actions by borrowers.

This action follows a two-year investigation into Westwood’s conduct, which had previously resulted in the approval of $130 million in borrower defense discharges for approximately 4,000 borrowers, according to Tuesday’s press release from ED. It also follows President Joe Biden’s measures last week to stem the student loan crisis, including forgiving up to $20,000 in debt.

“Westwood College’s exploitation of students and abuse of federal financial aid place it in the same circle of infamy occupied by Corinthian Colleges and ITT Technical Institute,” James Kvaal, ED’s under secretary, said in a statement. “Westwood operated on a culture of false promises, lies, and manipulation in order to profit off student debt that burdened borrowers long after Westwood closed. The Biden-Harris Administration will continue ramping up oversight and accountability to protect students and taxpayers from abuse and ensure that executives who commit such harm never work at institutions that receive federal financial aid again.”

Westwood College made "substantial misrepresentations" about job placement rates to its students, according to ED’s findings, including “misleading guarantees” about getting jobs in their field of study and “assurances of unrealistic post-graduation salaries,” extensive misrepresentations that its criminal justice program would lead to jobs with the the Chicago Police Department or the Illinois State Police Department, and exaggerations about “the transferability of its credits” when the institution knew those credits “would rarely transfer.”
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Read more: https://finance.yahoo.com/news/student- ... 13411.html
weatheriscool
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Reading and Math Scores Plummeted During Pandemic, New Data Show

Fourth-grade scores for worst performers could take decades to rebound and affect economy in the future, experts say

By Ben Chapman and Douglas Belkin
https://twitter.com/chapmanreports
ben.chapman@wsj.com
https://twitter.com/dougbelkin
Doug.Belkin@wsj.com
Updated Sept. 1, 2022 8:25 am ET
The Education Department’s first look at test-score trends since the pandemic began reveals the worst drop in math and reading scores in decades for students in fourth grade, a crucial indicator for educational and economic trajectory.

Scores released Thursday show unprecedented drops on the long-term trends tests that are part of the National Assessment of Educational Progress, known as the “Nation’s Report Card.” The tests are administered to U.S. students age 9.
{snip}
weatheriscool
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ACT test scores drop to lowest in 30 years in pandemic slide
Source: AP

By CHEYANNE MUMPHREY

PHOENIX (AP) — Scores on the ACT college admissions test by this year’s high school graduates hit their lowest point in more than 30 years — the latest evidence of the enormity of learning disruption during the pandemic.

The class of 2022′s average ACT composite score was 19.8 out of 36, marking the first time since 1991 that the average score was below 20. What’s more, an increasing number of high school students failed to meet any of the subject-area benchmarks set by the ACT — showing a decline in preparedness for college-level coursework.

The test scores, made public in a report Wednesday, show 42% of ACT-tested graduates in the class of 2022 met none of the subject benchmarks in English, reading, science and math, which are indicators of how well students are expected to perform in corresponding college courses.

In comparison, 38% of test takers in 2021 failed to meet any of the benchmarks.



Read more: https://apnews.com/article/health-educa ... osition_10
weatheriscool
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Student loan forgiveness applications now formally open, Biden says

Source: CNN Politics
CNN -- President Joe Biden on Monday announced the formal launch of the federal application for Americans seeking student loan forgiveness, the latest phase of his plan that is expected to provide debt relief to as many as 43 million borrowers. "Today, I'm announcing millions of people working and middle-class folks can apply and get this relief. And it's simple and it's now. It's easy," Biden said in remarks from the White House alongside Education Secretary Miguel Cardona. "This is a game changer for millions of Americans ... and it took an incredible amount of effort to get this website done in such a short time."

Individuals seeking to apply for student debt relief can now fill out the form in English or Spanish at Studentaid.gov. The form includes information on the debt relief, who qualifies for it and how it works. It asks applicants for information including their full name, Social Security number, date of birth, phone number and an email address. Borrowers have until December 31, 2023, to submit an application. Biden in August announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 a year or as much as $20,000 for eligible borrowers who were also Pell Grant recipients.

Borrowers must have federally held student loans to qualify. In addition to federal Direct Loans used to pay for an undergraduate degree, federal PLUS loans borrowed by graduate students and parents may also be eligible if the borrower meets the income requirements. The Biden administration has said that applicants who are "more likely to exceed the income cutoff" will be required to submit additional information, like a tax transcript.

And while borrowers will not have to pay federal income tax on the student loan debt forgiveness, it's possible that some borrowers may have to pay state income tax on the amount of debt forgiven. The Department of Education has also said it already had income information for nearly 8 million borrowers, likely because of financial aid forms or previously submitted income-driven repayment plan applications. Those borrowers will automatically receive the debt relief if they meet the income requirement, unless they choose to opt out. The department has said it will email borrowers who will be considered for debt relief but don't need to apply.
Read more: https://www.cnn.com/2022/10/17/politics ... index.html
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funkervogt
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Between low test scores, being priced out of the housing market, facing serious job competition with machines, and being born into a generally cynical and anxiety-ridden environment, I pity Gen Z.
weatheriscool
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President Biden says 22 million people have signed up for student loan forgiveness
Source: CNBC
President Joe Biden said 22 million people have registered for student loan relief since applications opened on Monday. “Folks, it takes less than five minutes,” Biden said, speaking at Delaware State University, an HBCU in Dover. “It’s about as easy to apply while hanging out with your friends at home or watching a movie. The vast majority are applying on their phones. It’s easy.”

The application officially opened on Monday but was released as a beta test last week. Biden said the White House did this to avoid the technical glitches experienced when he and President Barack Obama rolled out the Affordable Care Act site.

Biden campaigned on a promise of student loan forgiveness. In August, he announced that federal student loan borrowers earning under $125,000 or households with less than $250,000 in income would be eligible for up to $10,000 in forgiveness. Pell Grant recipients are eligible for up to $20,000 in debt relief.

“In total more than 40 million Americans stand to benefit from this relief,” Biden said. “For borrowers out of school, nearly 90% of relief is going to go to people making under $75,000 a year. Let me be clear: Not a dime, not a dime will go to the top incomes period. It goes to people who really need it.”
Read more: https://www.cnbc.com/2022/10/21/preside ... eness.html
weatheriscool
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Math Scores Fell in Nearly Every State, and Reading Dipped on National Exam
Source: New York Times
U.S. students in most states and across almost all demographic groups have experienced troubling setbacks in both math and reading, according to an authoritative national exam released on Monday, offering the most definitive indictment yet of the pandemic’s impact on millions of schoolchildren.

In math, the results were especially devastating, representing the steepest declines ever recorded on the National Assessment of Educational Progress, known as the nation’s report card, which tests a broad sampling of fourth and eighth graders and dates to the early 1990s.

In the test’s first results since the pandemic began, math scores for eighth graders fell in nearly every state. A meager 26 percent of eighth graders were proficient, down from 34 percent in 2019...
Read more: https://www.nytimes.com/2022/10/24/us/m ... demic.html
weatheriscool
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Supreme Court again declines to block Biden's student loan relief plan
Source: CNBC
The Supreme Court on Friday rejected a second request to block the Biden administration’s student loan debt relief program.

Justice Amy Coney Barrett denied an emergency application to block the program brought by the Pacific Legal Foundation, a conservative legal group, on behalf of two borrowers in Indiana. On Oct. 20, Barrett rejected a similar request.

Barrett is responsible for such applications issued from cases in the 7th Circuit U.S. Court of Appeals, which includes Indiana.

The decision has little practical effect. For now, student loan forgiveness remains on hold from a challenge brought by six GOP-led states.

Since the White House unveiled its loan relief plan in August to cancel $10,000 for most student loan borrowers, and up to $20,000 for those who received Pell Grants for low-income families, it has faced at least six lawsuits.
Read more: https://www.cnbc.com/2022/11/04/supreme ... -plan.html
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caltrek
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Biden Admin Halts Student Debt Relief Applications After Right-Wing Judge's Ruling
by Brett Wilkins
November 11, 2022

Introduction:
(Common Dreams)The Biden administration stopped accepting applications for its popular student loan forgiveness plan on Friday, a day after a Trump-appointed federal judge blocked the program on what critics are calling dubious legal grounds.

"We are disappointed in the decision of the Texas court to block loan relief moving forward. Amidst efforts to block our debt relief program, we are not standing down," U.S. Education Secretary Miguel Cardona said in a statement after Judge Mark Pittman of the U.S. District Court for the Northern District of Texas declared the Biden administration's debt relief plan "unconstitutional."

"Despite this decision, we will never stop fighting for the millions of hardworking students and borrowers across the country," the secretary continued. "We believe strongly that the Biden-Harris Student Debt Relief Plan is lawful and necessary to give borrowers and working families breathing room as they recover from the pandemic and to ensure they succeed when repayment restarts."

"The Department of Justice has appealed today's decision on our behalf, and we will continue to keep borrowers informed about our efforts to deliver targeted relief," he added.
Read more here: https://www.commondreams.org/news/2022 ... es-ruling
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