Temperatures will continue to fall over the next few days

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When I spoke to state Office of Education analyst Tricia Grimes on Friday about the increase in the student-loan default rate, I mentioned that Lumina Foundation's Zakiya Smith

Smith had told the higher ed publication 

 that the defaulting students had begun their repayment period while the feds were trying to spread the word about programs -- such as Income-Based Repayment and Pay As You Earn -- designed to prevent default.

Although the law requires students to know about them, Smith said, the message isn't being delivered clearly enough.

"The students [who graduate] have to do something called 'exit counseling.' .. It's usually online, but in that counseling, it does tell them some things about the repayment options. Frankly, my personal opinion is that many students just click through 'Accept-accept-accept' on all the screens try to get it done, without really paying attention to what it says. Because they don't think they're going to have trouble repaying their loans. ..."

Dropouts should also receive exit counseling, she said, but the circumstances of their departure often make it difficult for college officials to give it to them.

Later, when the arrears notices start coming, she said:

Education News

On Campus Blog

Alex Friedrich

Author

When I spoke to state Office of Education analyst Tricia Grimes on Friday about the increase in the student-loan default rate, I mentioned that Lumina Foundation’s Zakiya Smith had expressed alarm over the issue. Smith had told the higher ed publication  Diverse that the defaulting students had begun their repayment period while the feds were trying 

When I spoke to state Office of Education analyst Tricia Grimes on Friday about the increase in the student-loan default rate, I mentioned that Lumina Foundation’s Zakiya Smith had expressed alarm over the issue. Smith had told the higher ed publication  Diverse that the defaulting students had begun their repayment period while the feds were trying Read more →


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