Higher Ed Advocacy Groups To Dig Deeper On Federal Student Loan Design And Delivery
Career College Central summary:
Nine student-aid advocacy and research organizations have announced that they will serve as a consortium to look specifically at issues and challenges pertaining to student loan repayment, with an emphasis on income-based repayment.
The National Association of Student Financial Aid Administrators (NASFAA), Young Invincibles, Institute for Higher Education Policy, HCM Strategists, New America Foundation, National College Access Network, Committee for Economic Development, the National Campus Leadership Council, and Association of Public and Land-grant Universities will take part in Reimagining Aid Design and Delivery (RADD) Phase #2, through a $310,000 shared grant from the Bill & Melinda Gates Foundation.
This project builds on the work of Reimagining Aid Design and Delivery (RADD) Phase #1, which funded 16 grants to individual organizations to examine current systems of aid design and delivery, with an eye toward reimagining how they may be improved in the future.
Specifically, this consortium is focusing on one of the key topical outcomes from RADD: Phase One: student loans. Higher education experts fear that mounting student loan debt is becoming a major impediment to college access and a damper on future success. The Federal Reserve recently acknowledged that student loans could pose risks to the broader economy as tens of millions struggle to pay off old debt.
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