Rich Colleges Receiving Richest Share of U.S. Aid

Article Abstract:

Government financial assistance to universities and their college students shows that wealthier and better connected schools are able to access far more substantial federal funds than their less fortunate peers. Stanford receives $211.80 for every student who applies for financial aid as opposed to the national median that indicates less well-off schools get $14.38 per student. The University of Wisconsin at Madison receives 21 cents per student. Now college financial aid officers are attempting to remedy this imbalance that originated in the 1970s when regional panels of education consultants rather than objective formulas established who received funds. Redistribution of money is a political quagmire for Congress which attempted but failed to correct the higher education imbalance in 1980.

Colleges & Universities, Labor Distribution by Employer, Students, College, Institutional Grants, Universities and colleges, Statistics, College students, Federal aid to higher education, Government aid to higher education, Work study programs, Education grants

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Legal Loophole Inflates Profits In Student Loans

Article Abstract:

The Department of Education has announced that there is little it can do to respond to a report by the Government Accountability Office that suggests that the federal government is wasting money by paying unnecessary subsidies to student loan companies rather than ensuring that more funds directly reach students.

Contracts & orders received, Contracts & orders let, Reports, Contracts, Contract agreement, Powers and duties, United States. Government Accountability Office, United States. Department of Education

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A Windfall From a Student Loan Program

Article Abstract:

The Education Department maintains that closing a loophole that is allowing student loan lenders to continue to collect government subsidies would be imprudent; others disagree.

Commercial Banks, Banking industry

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