House Votes to Postpone PLUS Auction


April 1, 2009
by Scholarships.com Staff
Earlier this week, the House of Representatives passed a technical corrections bill that would make several changes to the Higher Education Opportunity Act passed last year.  Most of the changes are minor corrections, such as fixing typos or clarifying language, but the bill also includes two major fixes that would help borrowers if signed into law.

Earlier this week, the House of Representatives passed a "technical corrections" bill that would make several changes to the Higher Education Opportunity Act passed last year.  Most of the changes are minor corrections, such as fixing typos or clarifying language, but the bill also includes two major fixes that would help borrowers if signed into law.

One of the corrections taken up in the bill was a move to postpone the controversial PLUS loan auction program by a year.  Under the auction plan, lenders would bid to service PLUS loans in each state, a move that made much more sense when proposed in 2007 than when enacted in 2009.  Bids for the auction were due this week, but so far it has generated little interest from most lenders and a statement from major lender Sallie Mae saying they had no plans to participate.  Congress hasn't scrapped the plan entirely, but tabling it for a year will hopefully allow it to be revisited under more favorable, or at least different, conditions, and in the meantime will allow parents and graduate students to continue borrowing as normal.

The other much talked about provision would provide relief to people currently repaying their student loans who have defaulted in the past.  The credit crunch has made it difficult for borrowers who are now making payments on time to move out of default and have their credit rehabbed and federal aid eligibility reinstated.  Guarantee agencies have had trouble finding borrowers willing to buy up the rehabbed student loans and allow the default status to be removed from the borrowers' credit.  A provision in the correction bill will allow the federal government to buy up rehabbed loans under the same authorization they're currently using to buy up other loans from student lenders.

College is expensive, Scholarships.com is completely free. Pay for your college education with as much free college scholarship money as possible. By applying to all the awards you qualify for, you can be sure to not miss a single opportunity in paying for your college expenses - including tuition, fees, room and board. Get matched to college scholarships instantly and start applying today by conducting a free college scholarship search at Scholarships.com.

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 

    Enjoy a seasonal treat this season with fall scholarships from Scholarships.com to help pay your college tuition bill. Harvest some of the largest dollar scholarships, most prestigious scholarships, and brand name scholarships out there with our list of October scholarships. These autumn scholarships are so good you'll scream! So hurry and apply for these scholarships due in October and don't let them fall by the wayside. For a complete list of scholarships due in October, click here.

Harvest Fall Scholarships for College

September 7, 2017 3:42 PM
by Susan Dutca
Enjoy a seasonal treat this season with fall scholarships from Scholarships.com to help pay your college tuition bill. Harvest some of the largest dollar scholarships, most prestigious
If you're pursuing or thinking of pursuing a career in coding, you may be one of the 75,000 aspiring developers to land an Android Scholarship or Web Development Schoalrship, sponsored by Google and Udacity. Google and Udacity have been partnered over the past two years and doled 1,000 and 10,000 scholarships for coders in 2015 and 2016, respectively.

Google, Udacity Offer 75,000 Scholarships for Coders

September 5, 2017 1:14 PM
by Susan Dutca
If you're pursuing or thinking of pursuing a career in coding, you may be one of the 75,000 aspiring developers to land an Android Scholarship or Web Development Schoalrship, sponsored by Google and
San Diego State University plans to offer a course titled Black Lives Matter: A Focus on Black Boys and Men in Education, which will be open to the public for enrollment this coming October. The course, which will cover topics of how black men are undervalued in the classroom, is under fire for featuring “speakers whose members have been accused of inciting violence.

Black Lives Matter College Course Faces Criticism

August 30, 2017 8:32 AM
by Susan Dutca
San Diego State University plans to offer a course titled "Black Lives Matter: A Focus on Black Boys and Men in Education," which will be open to the public for enrollment this coming October. The
More and more colleges are introducing free college scholarship programs, with more than 20 states currently on board. The latest states to join the free community-college program initiative are Arkansas, Indiana, Montana and Rhode Island. Some critics claim that, while the idea sounds great, free college may not actually help those who need it most.

Free College Introduced in 4 More States

August 23, 2017 9:15 AM
by Susan Dutca
More and more colleges are introducing free college scholarship programs, with more than 20 states currently on board. The latest states to join the free community-college program initiative are
The looming 1.4 billion student debt haunts not only college students and graduates, but blue-collar students as well. Dozens of truck drivers recount the industry's hopeful advertisement and how they are left in debt with thousands of dollars in training fees and poor job prospects.

Blue-Collar Students Trucking Through Student Debt

August 15, 2017 2:24 PM
by Susan Dutca
The looming 1.4 billion student debt haunts not only college students and graduates, but blue-collar students as well. Dozens of truck drivers recount the industry's hopeful advertisement and how

    Just because you're already in college - even halfway through or in your final year - doesn't mean you couldn't use more financial aid to help pay your college tuition bill. Scholarships for college students are everywhere, including undergraduate scholarships and scholarships for grad students. In fact, many of the prestigious scholarships and large dollar scholarships out there are offered to college students. We understand college students' hectic schedules and having to balance academics, athletics, and extracurricular, so we've put together a wholesome list of scholarships for college students to make things easier for you. Don't forget to check out even more scholarships for undergraduate students and graduate scholarships by conducting a college scholarship search:

Find Scholarships for College Students

August 9, 2017 2:17 PM
by Scholarships.com Staff
Just because you're already in college - even halfway through or in your final year - doesn't mean you couldn't use more financial aid to help pay your college tuition bill. Scholarships for
$7.3 million will be spent to create or expand free college education programs in New York prisons. Among the seven colleges who will offer the College-in-Prison Reentry Program at 17 state correctional facilities over the next five years is Cornell University.

NY to Spend $7.3M on College-in-Prison Program

August 8, 2017 9:56 AM
by Susan Dutca
$7.3 million will be spent to create or expand free college education programs in New York prisons. Among the seven colleges who will offer the College-in-Prison Reentry Program at 17 state

    School is starting again soon. For some, that may bring a sense of dread - back to early morning alarms, late night homework, and for others, having to start college applications or finding ways to pay upcoming tuition bills. If searching for and applying to scholarships wasn't on your summer bucket list and you're now scrambling to find last-minute college scholarships, don't worry. We took it upon ourselves to create a Back to School Scholarship list. Whether you're a high school student, incoming college freshman or returning college student, get financially ready for a new school year with these back to school scholarships:

Back to School Scholarships 2017

August 3, 2017 3:51 PM
by Susan Dutca
School is starting again soon. For some, that may bring a sense of dread - back to early morning alarms, late night homework, and for others, having to start college applications or finding