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The next generation of U.S. physicians is being saddled with record debt amid a looming shortage of doctors needed to cope with a rising elderly population. The burgeoning debt burden may be turning students away from primary care toward more lucrative specialties and scaring off low-income and minority students fearful of taking on big loans.
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Harvard, Yale, Princeton and Columbia universities reported record-low freshman admission rates for the 2013-2014 academic year as applications climbed above or held near all-time highs.
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Scholarship programs funded by some of the nation’s biggest donors say colleges are hurting poor and minority students by rescinding aid once they find out they have awards from outside sources or by banning use of the funds to cover some student contributions. Donors complain that, in some cases, their gifts are boosting a school’s bottom line rather than the students they seek to help.
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Needy U.S. borrowers are defaulting on almost $1 billion in federal student loans earmarked for the poor, leaving schools such as Yale University and the University of Pennsylvania with little choice except to sue their graduates.
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Freshman applications to many U.S. colleges and universities are rising this year, fueled by a surge of international students, even as costs increase and the number of U.S. high school graduates declines.
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After a decade of resistance from universities, Congress is poised to take on college prices amid a groundswell of anger about tuition outpacing inflation and family incomes, leaving borrowers with $1 trillion in debt. Politicians from both parties are seeking to compel colleges to tell students how much they could be expected to earn from their degrees, spell out fees and debt in plain English, reward schools that keep tuition affordable -- and punish those that don’t.
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The November election isn’t the only presidential contest prompting career opportunities in Washington.
Princeton University, Dartmouth College and Yale University are all searching for new presidents, fueling speculation that some top Washington officials may seek haven in the Ivy League.
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Princeton University President Shirley Tilghman’s retirement next June along with departures of the heads at Yale University and Dartmouth College mark a generational shift in leadership in the Ivy League.
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More than one in 10 borrowers defaulted on their federal student loans, intensifying concern about a generation hobbled by $1 trillion in debt and the role of colleges in jacking up costs.
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Yale University President Richard C. Levin, the longest-serving leader in the Ivy League, said he will retire at the end of the current academic year.
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Cornell University and Massachusetts Institute of Technology are scaling back financial assistance to students, adding to the burden of families already coping with climbing college costs.
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Geraldine Damiani Brezler took out a $5,000 student loan in the late 1960s to study at the State University of New York. She became a nurse, got married, bought a house and repaid the debt in less than three years.
Today, her son, David, 38, owes about $85,000 in loans for a master’s degree in education at New York University. He can’t find full-time work, lives with his parents in White Plains, New York, and has deferred paying his debt for three years.
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Students grew indebted and went into default at the hands of a “subprime-style” private loan market that contracted amid the 2008 financial crisis, a U.S. government report issued today concluded.
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The average loan balance for U.S. college students has increased 55 percent to $24,301 since 2005, according to the Federal Reserve Bank of New York.
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From a hotel in San Diego, where he was attending a family wedding, University of Virginia Law Professor George Cohen heard about the unprecedented ouster of President Teresa Sullivan after less than two years in office.
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Unlike the federal student-loan program, which lets consumers borrow at fixed rates directly from the government, these loans from at least 30 banks and other private lenders feature mostly variable rates that can be more than twice what some people pay in the U.S. program. With college costs spiraling, the marketing and interest rates of these loans are drawing increasing complaints from borrowers and regulators, who say teenage consumers often don’t understand their terms.
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SLM Corp. (SLM), the student lender known as Sallie Mae, plans to offer its first fixed-rate private loans this month to compete with government-backed loans, which have more protection for borrowers.
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As many high school seniors face a May 1 deadline to decide where to go to college, families are struggling to understand financial-aid letters, which can be murky and confusing. While the federal government requires banks and mortgage companies to disclose interest rates and total payments on loans, financial- aid letters for college -- which can cost as much as $240,000 for four years -- are unclear about how much families will have to pay.
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Harvard College accepted 5.9 percent of applicants for its freshman class, a record low and a smaller percentage than its Ivy League rivals Yale University and Princeton University.
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The cost to attend Harvard College, the undergraduate division of Harvard University, will increase 3.5 percent for the 2012-13 academic year.
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U.S. student-loan debt reached the $1 trillion mark, as young borrowers struggle to keep up with soaring tuition costs, according to the initial findings of a government study.
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Almost two-thirds of U.S. student- loan borrowers misunderstood or were surprised by aspects of their loans or the student-loan process, a study shows.
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Students who take out loans from private lenders to finance their education should have the same right to discharge their debt in bankruptcy that other borrowers enjoy, Illinois Senator Dick Durbin said today.
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About $85 billion in U.S. student loan debt, or 10 percent of the outstanding balance, was delinquent in the third quarter of 2011, according to a report released today by the Federal Reserve Bank of New York.
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Debt from educational loans in the U.S. rose to $867 billion last quarter, according to the Federal Reserve Bank of New York.
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Christina Hull Paxson, dean of Princeton University’s Woodrow Wilson School of Public and International Affairs, will become Brown University’s 19th president.
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U.S. bankruptcy attorneys say student debt could be the next "debt bomb."
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Parents are borrowing record amounts to put their kids through college, jeopardizing their retirements.
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Princeton University reported a 1.9 percent drop in freshman applications for the 2012-2013 academic year, the latest Ivy League school to experience a decline after years of record increases.
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Claremont McKenna College, a liberal arts school near Los Angeles, said an admissions official had reported inaccurate statistics for the SAT college entrance exam since 2005.
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Yale University is once again in the spotlight after a controversy over its quarterback went from a feel-good story about college sports to an embarrassment, tarnishing the campus newspaper and reawakening accusations that sexual harassment goes unpunished.
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Undergraduate tuition and fees to attend Princeton University will rise 4.5 percent for the 2012- 2013 academic year, the biggest increase in six years.
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Freshman applications to Harvard University for the 2012-2013 academic year fell 1.9 percent after the college reinstated its early application program.
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Freshman applications to Yale University increased by about 5.8 percent to a record high as the school outpaced some of its Ivy League peers.
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Elite U.S. colleges such as the Massachusetts Institute of Technology and Columbia University are experiencing a slowdown or drop in applications after years of record increases.
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Laura Sayer, unsure of what she wanted to do after graduating from college in 2006, figured a master’s degree was “a safe bet.”
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When Gaston Caperton was recruited to run the College Board, owner of the SAT entrance exam, he said he didn’t want to just run “a testing company.”
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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.
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Nicole Ederer was delighted when Columbia University and Duke University wooed her with e-mails and letters after she scored 214 out of 240 on her preliminary SAT college entrance exam.
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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.
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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.
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With admissions notifications from Ivy League colleges going out as early as today, it’s more than just applicants awaiting the results.
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