November 24, 2020         
Canton, MA ComForCare Franchise Owners Receive 2020 Franchise of the Year Award   •   The American Legion National Commander Congratulates President-Elect Biden   •   Dia & Co Launches Dia Holiday Market, A Digital Marketplace to Support Female-Owned Local Businesses This Holiday Season   •   Hunt Military Communities Teams Up With Toys for Tots to Brighten the Holidays for Children in Need   •   DEKA (El.En. Group) Establishes a Medical Advisory Board for Female Intimate Health   •   ElfYourself® Approaches 2 Billion Mark   •   Consumers Planning to Spend $470 over Thanksgiving Weekend: ICSC Survey   •   CURE Media Group Names Devon Still as Keynote Speaker for the 2020 MPN Heroes® Virtual Celebration   •   Composer GABRIELE CIAMPI writes INFINITO, his first soundtrack created for a book   •   Make Your Next Job a Home-Based, Money Making Business From Your Home Kitchen   •   Founder of Ferrari Energy, Adam Ferrari, Announces the Launch of The Ferrari Foundation   •   First Insight: Majority of Consumers Started Holiday Shopping Before Black Friday   •   CORRECTING and REPLACING Rite Aid Updates COVID-19 Testing Program   •   Rite Aid Updates COVID-19 Testing Program   •   MNA: Brigham and Women's Hospital Tells Nurses to Care for Patients Despite Living with COVID-19 Positive Family Members   •   Study Finds Only 30% of American Homeowners Know What Their Home Insurance Policy Covers   •   Smithfield Foods Commits $300,000 to Heritage STEM Camps Foundation to Increase Participation Among Minority Women   •   Florida's Ensurem Lands at No. 1 of Tampa's Fastest-Growing Companies   •   Assisting Hands Home Care Opens New Location in Winnetka, Illinois   •   EVENPRIME Partners With Spellbreak to Launch Skin Serum Both In-Game and in Real Life
Bookmark and Share

Black and Native-American community college students twice as likely to lack access to federal student loans

 900,000 Students Blocked from Federal Student Loans


Some Community CollegesÂ’ Choices Put Students at Risk
 
Berkeley, CA – Nearly one in 10 community college students in the U.S. cannot get a federal student loan – the safest, most affordable way to borrow for college – because their schools choose not to participate in the federal loan programs. A new issue brief from the Project on Student Debt found that more than 20 percent of the community college students in seven states have no access to federal loans, including six states (AL, GA, NC, LA, TN, VA) in the southern U.S. African-American and Native-American students were twice as likely as other students to lack access to federal student loans. 
 
Despite low tuition, the average total cost of attending a two-year community college ($14,054) is three-fifths that of a four-year public college ($18,326). Federal loans can help students afford college costs, including textbooks, transportation, and housing when grants and scholarships fall short. The brief, Getting with the Program: Community College Students Need Access to Federal Loans, warns that students who need to borrow may turn to risky and expensive private student loans or credit cards when federal loans are not available. Other students may drop out, work excessive hours, or take fewer classes – all choices that reduce their odds of earning a degree or certificate. 
 
“It’s important that community colleges provide access to federal loans for students who need them,” said U.S. Under Secretary of Education Martha Kanter. “I would urge community college leaders and administrators to read this report carefully and consider their institutions’ stance on this issue.”
 
Community colleges that do not participate in the federal loan program often cite fears of high default rates and related sanctions, and a desire to protect their students from debt. The brief, however, finds that default rates are not an imminent danger for community colleges, and that opting out of the federal loan programs does not keep students from borrowing – it only keeps them from taking out federal student loans. The brief recommends that colleges provide access to federal loans along with appropriate financial aid counseling.
 
While a relatively small percentage of community college students take out student loans, the number is growing, from 9 percent in 2003-04 to 13 percent in 2007-08. The share of community college students taking out risky private student loans quadrupled during that period (from 1 to 4 percent.) Nearly two thirds (64 percent) of community college students with private loans did not take out safer federal loans in 2007-08. In comparison, only 20 percent of private loan borrowers at other types of schools did not take out federal loans that year. 
 
 Ã‚“With the economy down, more people are enrolling in community colleges, and they are more likely to need every financial aid option available,” said Deborah Frankle Cochrane, program director at the Institute for College Access & Success and the reportÂ’s lead author. “We hope to dispel some of the myths about offering federal loans and expand access to financial aid for students who need it.”
 
#   #   #   #
 
The Project on Student Debt is an initiative of the Institute for College Access & Success, a nonprofit, nonpartisan organization working to make higher education more available and affordable for people of all backgrounds.  For more information see www.projectonstudentdebt.org and www.ticas.org



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News