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The Education Department on Tuesday unveiled the details of its planned overhaul of income-driven repayment, which could transform the financing of higher education by providing more generous student loan repayment and forgiveness terms. Over all, the changes are expected to have a net budget impact of $137.9
The federalgovernment’s COVID assistance played a critical role in temporarily sustaining institutions, particularly smaller colleges, which otherwise faced the risk of closure. million in the first round of COVID relief funds, underscoring the significant impact of these aids.
These developments have immediate and long-term consequences for college presidents, boards, financialaid departments, and the students they serve. To help institutional leaders understand the scope and implications of these changes, this weeks podcast features returning guest Tom Netting, president of TEN Government Strategies.
Department of Education, one of the federalgovernments smallest Cabinet-level agencies, operates programs across every level of education. In fact, less than 8% of public school revenue came from federal agencies, including the Education Department, before COVID-19 reached the U.S.
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