Apr 10, 2008
Barton Community College, Pennsylvania Higher Education Assistance Agency (PHEAA)
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Thursday, April 10 , 2008
Kennedy Introduces Legislation That Would Alter Federal Financial Aid
By Carina Zaragoza Print this Page
Kennedy Introduces Legislation That Would Alter Federal Financial Aid
On April 3 Senator Edward M. Kennedy (D-MA) introduced legislation that would make sweeping changes to federal financial aid. The bill, given the short name "Strengthening Student Aid for All Act," is intended to ensure students have sufficient access to financial aid, in the forms of both grants and loans.

Kennedy referred not only to the increased reliance of students on federal student loans but also to the current economic crisis as impetuses for the legislation.

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Community College Tuition Policies Reexamined

By Carina Zaragoza

The American Association of Community Colleges met in Philadelphia this week for its annual conference. Among the speakers was bestselling author Amy Tan, who attended San Jose City College. The conference was composed of various presentations on topics ranging from green campuses to increasing enrollment to assisting military personnel with transitioning from active duty back to school.

A major topic was community college tuition. Christopher Mullin, fellow of the College of Education at the University of Florida, demonstrated a shift in tuition policies at various community colleges.

During the 1930s through the 1950s, the tuition rates at four-year institutions and community colleges were relatively similar.

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Brazos Eliminates FFELP Loans

Brazos Higher Education Service Corporation suspended new loans for the 2008-2009 academic year. Brazos joins a list of 26 lenders who have made similar moves. Ellis Treadway, Brazos' executive vice president of governmental and public affairs, said that Brazos "cannot finance anything in this market," referencing the crisis in the credit markets. The failure of the auction rate securities market has hit lenders hard, eliminating virtually all sources of their funding and revenue. Brazos ranked fourth in the Department of Education's rankings of FFELP lenders in terms of loan holdings, of which Brazos held $15 million.
Student Loan Xpress Exits FFELP Business

Student Loan Xpress, based in San Diego, California, has announced it has exited the student loan business. As of April 3, 2008, Student Loan Xpress will no longer make FFELP loans. The company will focus on its "core commercial finance franchises." Student Loan Xpress only last year stopped its private loan lending business. Student Loan Xpress was among the FFELP lenders cited by New York Attorney General Andrew Cuomo and his office during their investigation into student loan lending practices.

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