Sallie Mae, the largest U.S. education-finance company, is making a bet on the future of private student debt, a business under fire in Washington for marketing high-interest-rate loans before the financial crisis.
New York families whose children took a test for access to accelerated public-school programs have been informed of a second scoring error by Pearson Plc, prompting the city to re-evaluate its contract with the company.
Allowing consumers to refinance private loans with public funds is one option for alleviating the burden of college debt on the U.S. economy, the Consumer Financial Protection Bureau said in a report published today.
U.S. Representatives Ed Markey and Joe Barton asked the College Board , owner of the SAT college entrance exam, to explain how it collects and stores data from students as the government seeks to bolster teen privacy laws.
The president of the College Board, the nonprofit owner of the SAT entrance exam, has seen his compensation triple since 1999 and now gets more than the head of the American Red Cross, which has more than five times the revenue.
The most important determinant of educational quality is teacher quality. Yet, as a recent study of school principals’ permissiveness in teacher evaluations and a cheating scandal in Atlanta show, this performance is difficult to measure.
Colleges from Bowdoin in Maine to Pitzer in California dropped the SAT entrance exam as a requirement, saying it favors the affluent, penalizes minorities and doesn’t predict academic success. What they don’t advertise is they find future students by buying names of kids who do well on the test.
The College Board, owner of the SAT entrance exam, and rival ACT Inc. should consider deleting student data after a period of time to help protect the privacy of teenagers, U.S. Representative Ed Markey said.
Tuition and fees at U.S. public universities soared 8.3 percent this year, twice the rate of inflation, to an average $8,244, a College Board report found. Nonprofit private college costs rose 4.5 percent to $28,500.