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Education Dept. Easing Off on Preferred-Lender Limits

Chronicle of Higher Education
May 15, 2008

In a letter sent last Friday to colleges, the Education Department said it will allow a temporary relaxation of rules, which it put in place just last November, concerning a requirement that institutions name at least three unaffiliated loan companies when compiling a list of "preferred lenders."

Higher Education Act Nears Completion, but Major Hurdles Remain

Chronicle of Higher Education
May 15, 2008

Aides to members of Congress are hoping to wrap up their negotiations by the end of the week, with the goal of publishing a bill on Monday. Congress could then name members to a conference committee on Wednesday and schedule votes on the bill before Memorial Day. But with several issues unresolved, and at least one senator threatening to put a hold on the bill if his demands are not met, that target seems increasingly unrealistic.

Students struggle to find a winning hand

The Guardian, U.K. - Movie Review
May 15, 2008

It is the subtext of 21which hangs around in the mind, long after one has left the theatre.  Over the past 30 years in the US, and the past 10 years here, higher education has moved from being a free service to a luxury product.  Student loans are inadequate in the face of tuition, which is racing far ahead of inflation, and repayment takes decades. One result is that students who have superior abilities prudently point their talents to where the big money and quick returns are: medicine, law or business.

House to boost GI Bill as it passes war funding

Associated Press
May 15, 2008

President Bush wants more money for the wars in Iraq and Afghanistan. House Democrats are making him pay a price - increased education benefits for veterans of those conflicts - to pass his long-stalled request.  The House also was poised to approve on Thursday an extra tax on wealthier people. The new revenue would help cover the 10-year, $52 billion cost of bolstering the GI Bill and providing those veterans with a college education.

Congratulations, Ms. Ree-CHARD, here is your diploma

Burlington, Vt., Free Press
May 15, 2008

Institutions of higher education confer degrees - by the thousands or by the dozens - in different ways.  St. Michael's is small enough to do it the old-fashioned way.  Each name is read aloud, and then that namesake walks across a stage, shakes the hand of the college president and is handed a diploma.  Commencement is a big deal.  Can you imagine what it would be like if your family came from Calais or Sri Lanka to watch you get your degree and then the reader mangled your name?

House OKs plan to improve GI education benefits

Associated Press
May 15, 2008

The House on Thursday passed a Democratic plan sharply boosting education benefits for Iraq-Afghanistan veterans.  The 266-166 fell short of the two-thirds needed to overcome a promised veto by President Bush.  The Democratic plan would impose a surtax on individual incomes exceeding $500,000 to pay for the 10-year, $52 billion cost of boosting the GI Bill to provide Iraq veterans with college educations. 

Sallie Mae snafu causes credit scores to sink

CNNMoney.com
May 14, 2008

As many as 1 million borrowers from Sallie Mae, the nation's largest student lender, may have seen their credit score plunge overnight after a coding error made some student loan repayments appear delinquent.  The error occurred in a routine transfer of account information to the credit bureaus, and was discovered on Friday, but by the time Sallie Mae notified the agencies, Equifax had already posted the information.  

Pomp and happenstance

Boston Globe - Editorial
May 14, 2008

The annual tradition of universities bestowing honorary degrees on dignitaries may be more trouble than it's worth.  Things can go badly.  The boxer Mike Tyson was awarded an honorary doctorate from Ohio State University in 1989 and went on to commit a rape - and to bite off his opponent's ear.  In 1968, Harvard gave a law degree to its commencement speaker, the shah of Iran.

Nichols College President Testifies Before House Ways and Means Committee

NAICU Washington Update
May 14, 2008

Debra Townsley, president of Nichols College in Massachusetts, testified on NAICU's behalf before the House Ways and Means Subcommittee on Select Revenue on the importance of a variety of higher education tax incentives.

Democrats propose taxes to fund veterans' benefits

USA Today
May 14, 2008

House Democrats are proposing a tax surcharge on millionaires to pay for a big increase in education benefits for veterans of the war in Iraq, lawmakers said Tuesday.  The $1 million adjusted gross income level would apply to couples. Individuals would pay the surcharge on adjusted income exceeding $500,000.
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