Education Department to Ease College Loan Rules

By: Associated Press Email
By: Associated Press Email

WASHINGTON (AP) -- The Department of Education is trying to make it easier for students with troubled credit histories to get college loans.

New rules would ease restrictions on college students seeking loans from the government's direct loan program.

The change would let people get loans more easily even if they have about $2,000 in bad debt, and it would shorten the length of time their history of bad debt is scrutinized.

Currently, students with that much "adverse debt" are automatically denied, though they can appeal.

The department says about 370,000 more borrowers will clear the government's credit check under the new standards.

The department expects to make the rules final by November, which means they would take effect for the fall of 2015.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@wsaw.com.
Please provide detailed information.
All comments must adhere to the WSAW.com discussion rules.

powered by Disqus
WSAW-TV 1114 Grand Ave. Wausau, WI 54403
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 270352301 - wsaw.com/a?a=270352301