Due to changes in the way the U.S. Department of Education evaluated the credit of parents applying for a federal PLUS loan many students are having to make significant changes while on their path to college graduation. Faced with having to change schools or even stay home, black students have been negatively impacted by these new polices which result in their parents no longer qualifying for the loans.
“The greater scrutiny affected families and schools everywhere, but historically black colleges were hit particularly hard because so many of their students come from low-income families dependent on PLUS loans. In recent years, as many as a third of all black college graduates had used PLUS loans, a proportion twice as high as the rate for all schools, according to one estimate.”
Having to transfer to another school or taking time off presents our youth with one more challenge they must overcome as they strive to have a chance in today’s competitive job market. For more on this visit The Huffington Post.
BMWK — For those of you with children in college how do you help them afford to maintain their enrollment? For those who have children working toward going to college how do you help them prepare for the financial aspect of college attendance?