Project on Student Debt Logo
about us
get updates
initiatives
take action
voices
publications
newsroom
resources

Stronger Gainful Employment Rules Needed

The Obama Administration has proposed a definition for "gainful employment" to protect students and taxpayers from getting ripped off by career education programs that over-charge and under-deliver. While this is a major step in the right direction, the rules need to be strengthened to adequately protect students and taxpayers.

Take action, send a public comment calilng for stronger rules!

See the August 12 coalition letter calling for stronger rules
See the August 12 press release

Major July 1 Changes

July 1 will bring several significant changes to federal student loans that benefit new and current borrowers. Some interest rates will decrease, and updated rules for Income-Based Repayment (IBR) will bring fair treatment to married borrowers and those who owe more than when they finished school. Also, all federal student loans made on or after July 1 will be Direct Loans, which come straight from the U.S. Department of Education. This will save taxpayers tens of billions of dollars by eliminating a parallel program that subsidized private lenders to make the same federal loans.

Learn more about July 1 changes to federal student loans

See a summary of federal student loan terms for 2010-11

Read the press releas

Big Wins for Students in Final Financial Reform Bill

On July 21, President Obama signed historic financial reforms into law, including the creation of a much-needed Consumer Financial Protection Bureau (CFPB) with authority over risky private student loans. The legislation contains big wins for students and borrowers, although it does not have everything we sought. 

See our statement on the final bill.

Hearing on Bankruptcy and Student Loans

On April 22 Congressman Steve Cohen chaired a hearing on private loans and bankruptcy. Senator Dick Durbin and Congressman Cohen recently introduced legislation to make private student loans dischargeable in bankruptcy.

Please urge your representatives in Congress to support these bills to provide fair treatment of borrowers with private student loans.

For more about our work to improve consumer protections for private student loans, please visit our Private Loan Publications and Resources page.

See our statement on the legislation and hearing




IBR Info

follow us on twitter join us on facebook
One of the 10 best college websites - US News & World Report

A Borrower's Guide to 2010-11 Loan Terms explains important student loan-related changes that go into effect July 1, 2010.

The Top 10 Student Loan Tips for Recent Graduates provides useful information new graduates should know about repaying student loans. 

Student Loan Options in a Tight Credit Market helps prospective borrowers choose the right financing options. 

Student Loan Borrower Assistance is a comprehensive resource for consumers who are having any kind of problem with student loans.

Question: Did you take out federal or private student loans?

Only federal loans
Only private loans
Both federal and private
Not sure



view results all surveys
Creative Commons LicenseThe Institute for College Access & Successsitemapprivacy policyterms of usesite by Aeronet