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January
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(01/26) Administration Plan Puts Thousands of Jobs At Risk
Labor Dept. Says Record 12 Million Receiving Unemployment Benefits
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| Thousands of jobs will be eliminated if the Obama Administration’s plan to take over the private sector’s role in federal student loans is passed by Congress, America’s Student Loan Providers stated today. Following this week’s U.S. Labor Department report that a record 12 million Americans received federal and state unemployment benefits as of the first of the year, the Senate is still expected to consider legislation that eliminates the lender-based federally guaranteed student loan program. Besides eliminating jobs, the plan would force all 6,000 of the nation’s schools and 11 million student and parent borrowers to turn to the government-run Federal Direct Loan Program for higher education funding. Full Article |
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September
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(09/17) ASLP STATEMENT ON HOUSE APPROVAL OF H.R. 3221
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| America’s Student Loan Providers issued a statement in response to the House of Representatives vote on H.R. 3221, The Student Aid and Fiscal Responsibility Act. Full Article |
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(09/10) President’s Embrace of Choice and Competition Draws Student Loan Community’s Attention
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| Kevin Bruns, executive director of America’s Student Loan Providers, issued the following statement in response to President Obama’s comments in his address to Congress about consumer choice and market competition Full Article |
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July
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(07/28) CBO Issues New Estimate of Administration Student Loan Proposal
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| Kevin Bruns, executive director of America’s Student Loan Providers, issued a in response to the Congressional Budget Office’s new estimate that shows the Administration’s student loan proposal saving $33 billion less than projected. Full Article |
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(07/21) ASLP Releases Statement on Ed & Labor Committee Approval of Student Loan Bill
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| Kevin Bruns, executive director of America’s Student Loan Providers, issued a statement in response to the approval of The Student Aid and Fiscal Responsibility Act by the U.S. House Committee on Education and Labor. Full Article |
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(07/16) Despite House Bill, "Door is Still Open" for Dialogue and Different Approach, ASLP Says
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| Kevin Bruns, executive director of America’s Student Loan Providers, issued a statement in response to the introduction of The Student Aid and Fiscal Responsibility Act by U.S. Rep. George Miller (D-CA), the chairman of the House Education and Labor Committee. Full Article |
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February
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| (02/26) ASLP Issues Statement on President's Budget Proposal
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| Kevin Bruns, executive director of America 's Student Loan Providers, released a statement in response to the President's Budget proposal to abolish the Federal Family Education Loan Program Full Article |
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| (02/19) 2ND ASLP WEBINAR SCHEDULED FOR FEB. 26
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| On February 26, America’s Student Loan Providers will host its second webinar for financial aid administrators. The webinar will provide an update on government liquidity programs that are helping provide students and parents uninterrupted access to federal student loans, as well as student-loan community programs that are helping students, families and schools successfully manage student loan repayment and prevent defaults. Full Article |
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January
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| (01/06) Statement of Condolences on the Death of Sen. Claiborne Pell
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| America's Student Loan Providers released a statement of condolences on the death of Senator Claiborne Pell Full Article |
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October
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(10/02) ASLP Releases 2008 Student Loan Fact Book
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| America's Student Loan Providers today released the 2008 Student Loan Fact Book, Kevin Bruns, ASLP executive director, announced. Full Article |
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September
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(09/18) ASLP Commends Congress For Passing Extension of Emergency Student Loan Funding Law
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| Kevin Bruns, executive director of America's Student Loan Providers, released the following statement in response to U.S. House and Senate approval of a bill extending the Ensuring Continued Access to Student Loans Act of 2008 for one year. Full Article |
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July
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(07/21) America's Student Loan Providers Launches ListServ
First Issue Planned for Week of July 21
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| This week, America’s Student Loan Providers launched "The Landscape," a new listserv for the financial aid community. Full Article |
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April
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(04/30) ASLP Commends Congress for Fast Action on H.R. 5715, Urges Prompt Implemenation to Assure Student Loan Funding
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| America's Student Loan Providers released a statement in response to unanimous approval of H.R.5715 by the U.S. Senate. Full Article |
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(04/08) Student Loan Providers Urge Administration to Act on Liquidity
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| America's Student Loan Providers released a statement in response to unanimous approval of The Ensuring Continued Access to Student Loans Act of 2008 by the U.S. House Committee on Education and Labor. Full Article |
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December
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(12/05) New Estimates Reflect Large Taxpayer Savings
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| The Administration’s revised cost estimates, posted on the U.S. Department of Education’s Web site, show the dramatic impact that the College Cost Reduction and Access Act (CCRAA) has had on the relative costs of the Federal Family Education Loan Program (FFELP) and the Federal Direct Loan Program (FDLP), Inside Higher Education reported today. The recently enacted CCRAA cut FFELP by more than 80 percent. Full Article |
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November
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(11/28) ASLP News Flash: Choice Words
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| At the heart of the Clinton, Obama and Edwards health reform plans is choice: choice of doctors, choice of health insurance. At the heart of the Federal Family Education Loan (FFEL) Program is also consumer choice. Yet, choice is not a part of the candidates’ position on federal student loans. Full Article |
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September
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(09/11) Default Rate Decline Carries Bittersweet Message
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| Kevin Bruns, executive director of America’s Student Loan Providers, today released a statement in response to the U.S. Department of Education’s release of the cohort default rate for federal student loans: Full Article |
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(09/06) ASLP Responds to Conference Report
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| America's Student Loan Providers today issued a statement in response to the Conference Report on the College Cost Reduction and Access Act. Full Article |
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August
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(08/02) Student Loan Community Urges Congress to Protect Families and Preserve Strong FFELP
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| More than three dozen organizations today released an open letter to Congress, warning of the serious consequences of the proposed $18 billion in budget cuts to the Federal Family Education Loan Program. A conference agreement on the House and Senate budget reconciliation packages may come to the floor as early as this week. Full Article |
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July
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(07/18) Proposed FFELP Cuts Would Be Severe, New Analysis Says
Senate Must Act to Temper Cuts, ASLP Urges
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| The die has yet to be cast—the potential catastrophic impact of the proposed $18 billion cuts in student loans can be averted,” Kevin Bruns, executive director of America’s Student Loan Providers, said in response to independent analysis released today by Mark Kantrowitz, Publisher of FinAid.org. The study examines proposed cuts to the Federal Family Education Loan Program (FFELP). Full Article |
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(07/17) Nelson-Burr Amendment: The Sensible Alternative
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America's Student Loan Providers today issued the following statement regarding the Nelson-Burr Amendemen: a bipartisan amendment to the current Senate budget package that would make college more affordable, while preserving choice and competition in federal student loans. It is a sensible alternative.
Full Article |
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(07/11) House Vote Clears Way for Senate to Protect Families
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| Kevin Bruns, executive director of America’s Student Loan Providers, today issued a response to passage of H.R. 2669: Full Article |
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June
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(06/28) “First, Do No Harm” and “Listen To Your Constituents,”
ASLP Urges As Budget Cuts Move to the Floor
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| Looking ahead to floor consideration of massive student loan cuts when Congress returns after the July 4th recess, Kevin Bruns, executive director of America’s Student Loan Providers, urged Congress to carefully consider the budget cuts. Full Article |
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(06/26) ASLP MEDIA ROUND-TABLE
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“The House and Senate budget packages would make college more expensive for millions of middle-class families and impose an unworkable, untried auction system on parent borrowers and schools.”
America’s Student Loan Providers hosted a Media Round-Table on Tuesday, June 26 to discuss why we believe the proposed budget cuts and auction programs before Congress would harm borrowers. Student loan executives and other stakeholders from around the country explained the practical and very dramatic consequences of these cuts on the individuals they serve—students and parents. Full Article |
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(06/19) College Costs for Millions to Worsen Under Senate Proposal
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| Kevin Bruns, executive director of America’s Student Loan Providers, released the following statement in response to the proposed Higher Education Access Act of 2007, which is expected to be considered tomorrow by the Senate Health, Education, Labor and Pension Committee. Full Article |
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May
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(05/23) ASLP Response to The Washington Post Editorial
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| Kevin Bruns, Executive Director of America’s Student Loan Providers, released the following statement in response to a May 20 editorial published by The Washington Post, entitled “Belated Insight”. Full Article |
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(05/16) "Trojan Horse" Agreement Will Eliminate Choice & Competition
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| Kevin Bruns, executive director of America’s Student Loan Providers, today released a statement in response to the congressional budget-reconciliation conference agreement. Full Article |
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(05/15) ASLP Supports House Passage of Student Loan Bill
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| Kevin Bruns, executive director of America's Student Loan Providers, this afternoon applauded the central principles of H.R. 890, the Student Loan Sunshine Act, calling its passage an “important step by Congress in crafting legislation that will strengthen the public’s trust in federal student loans.” Full Article |
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(05/09) Congress Should Pass Student Loan Transparency Bill
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| America's Student Loan Providers today urged Congress to quickly pass legislation to address the recent revelations involving certain lender practices and to restore the public's trust in federal student loans, Kevin Bruns, ASLP executive director said. Full Article |
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December
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(12/28) New Study: Budget-Scoring Barriers to Efficient Student Loan Policy
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Former CBO Director and economist Dr. Douglas Holtz-Eakin released a new study commissioned by America's Student Loan Providers that concludes the Federal Government has no inherent economic advantage in providing student loans through Direct Lending.
Full Article |
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(12/05) ASLP Responds to Washington Post Editorial
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The Nov. 24 editorial "Shrinking Opportunities" was correct to state that in widening access to higher education, the larger issue is "how to make college more affordable." But in suggesting that student loan programs "end up enriching lenders at student expense," the editorial makes a blanket statement that doesn't measure up. Full Article |
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October
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(10/25) ASLP: College Board Gives Clearer Picture of Borrowing
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Washington, D.C.— America’s Student Loan Providers today released a statement in response to the College Board's 2006 Updates to Education Pays and Trends in Student Aid.
Full Article |
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September
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(09/27) Statement on Higher Ed Commission Final Report
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| Washington, D.C. – America’s Student Loan Providers today released a statement in response to the final report of Secretary of Education Margaret Spellings's Commission on the Future of Higher Education. Full Article |
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June
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(06/21) ASLP Responds to Des Moines Register Editorial
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Regarding the June 5 editorial, “Overhaul Lending for College Students”: In its discussion of federal student-loan programs, it is wrong that cost should be the only consideration. If it was, we’d all shop only at Wal-Mart. Full Article |
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May
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(05/09) Guaranteed Loans Cheaper For Taxpayers, Paper Says
Total Savings of $4 Billion; Direct Loans Cost $2.16 More Per $100 Lent
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Washington, D.C. – Federal guaranteed student loans have cost taxpayers less than loans made directly by the U.S. government, according to a white paper issued today by America’s Student Loan Providers (ASLP). Based on new government cost data, loans made by the private sector-based Federal Family Education Loan (FFEL) Program from 1994 to 2002 have cost $7.00 for every $100 in loans, as compared to $9.16 for direct loans.
Full Article |
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(05/01) Help for Graduates Repaying Loans
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WASHINGTON, DC – This May over 1.5 million students nationwide will become “college graduates.” About 40 percent of them will also begin receiving bills for the repayment of their student loans. However, the prospect of repayment doesn’t need to be as daunting as some may anticipate.
Full Article |
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February
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(02/01) Statement of America’s Student Loan Providers Regarding Higher Education Reconciliation Act of 2005
Title VIII of the Deficit Reduction Act of 2005 (S. 1932)
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Washington, D.C.–Kevin Bruns, Executive Director of America’s Student Loan Providers, today issued the following statement in response to final passage of the budget reconciliation conference report:
“From the perspective of America’s Student Loan Providers, the budget reconciliation conference report is a real mixed bag, with its large spending cuts only partly offset by much needed benefits to students. Full Article |
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October
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(10/26) ASLP Statement on GAO Report on Loan Program Subsidy Costs
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Washington, D.C.—Kevin Bruns, Executive Director of America’s Student Loan Providers (ASLP), today issued the following statement in response to the newly released report by the U.S. Government Accountability Office (GAO), titled, “Federal Student Loans: Challenges in Estimating Federal Subsidy Costs”:
“The GAO’s report is ‘deja vu all over again.’ For the second time this year, and about the sixth time in ten years, independent experts conclude that federal budget rules are flawed: They do not accurately compare the real, long-term costs of the Federal Family Education Loan Program (FFELP) and the Federal Direct Student Loan Program. Full Article |
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(10/19) As Education Pays, So Do Student Loans
Statement Regarding College Board’s “Education Pays Update”
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Washington, D.C.—Kevin Bruns, Executive Director of America’s Student Loan Providers, today issued the following statement in response to Education Pays Update 2005,* released yesterday by the College Board:
“Education Pays Update 2005 shows us just how much of a twofer higher education is.
“The nation as a whole benefits, not only from having an educated workforce, but also in more practical ways: higher tax revenues, greater voter participation and lower health-care costs. The people who go to college benefit personally as well – they do better financially and are healthier. Full Article |
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August
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(08/26) Student loan cuts could hurt students and program, ASLP warns senators in a letter
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America’s Student Loan Providers today sent a letter to senators urging them to oppose significant budget cuts in federal student loans. …
“The Senate’s first priority should be students and the grant and loan programs that serve them,” the letter states. “Deep budget cuts would make it nearly impossible for Congress to increase access to higher education through much-needed program improvements as part of the [HEA] reauthorization.” Read the letter. Full Article |
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July
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(07/18) Superior Service Is Key Reason Schools Return to FFELP
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New survey helps explain why 500+ schools left Direct Lending
America’s Student Loan Providers (ASLP) has issued the results of a survey of schools that have left the Direct Loan program and returned to the private-sector Federal Family Education Loan (FFEL) program. The ASLP survey, conducted by Rockbridge Associates, Inc., polled financial aid administrators (FAAs) at former Direct Loan schools to determine why more than 500 schools have left the Direct Loan program for the FFEL program. Read the survey results. Full Article |
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(07/13) New Paper Shows No Difference in FFELP’s, Direct Lending’s Costs
Pres.’s ’06 Budget Understates FDLP’s Subsidy Rate, Overstates FFELP’s
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| America’s Student Loan Providers have released a white paper that for the first time puts a dollar figure on the impact of flaws in federal budget rules on student loan program cost estimates, concluding that no significant difference exists between the Federal Family Education Loan (FFEL) Program’s costs to taxpayers and the Federal Direct Loan Program’s. Read the white paper. Full Article |
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May
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(05/05) ASLP Statement on "Easy Money"
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| Statement by ASLP Executive Director Kevin Bruns on the release of the study "Easy Money" by the California Public Interest Research Groups (CalPIRG) Full Article |
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April
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(04/28) ASLP Statement on Access to Higher Education
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ASLP issued a statement at a hearing held in the Senate Health, Education, Labor and Pensions Committee on how the participants in the Federal Family Education Loan Program (FFELP) work with students, parents, schools, community organizations, and state and local governments to help ensure access to postsecondary education for families of all income levels, regardless of economic conditions, prevailing interest rates or tuition costs. Full Article |
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(04/25) ASLP Responds to Washington Post Editorial
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| ASLP Executive Director Kevin Bruns responded to the March 4, 2005 editorial written by the Washington Post which claimed that the private sector student loan program was "10 times more expensive" than the government run student loan program. Read the letter to the Post. Full Article |
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March
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(03/24) ANDREWS BILL WILL INCREASE ACCESS TO HIGHER EDUCATION
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ASLP Endorses H.R. 1293, Access and Equity in Higher Education Act
America’s Student Loan Providers has endorsed legislation recently introduced by Rep. Rob Andrews (D-NJ) that would make changes in the federal government’s student loan programs that would increase access to college and meet the needs of increasingly diverse student population. Full Article |
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(03/15) CONGRESS SHOULD TAKE A PASS ON DIRECT LOAN BILLS
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Scorekeeping Bias Overstates Projected Savings; Most Students Left Out
“The legislation has a fundamental flaw,” said Kevin Bruns, the Executive Director of ASLP. “It’s based on numbers that don’t add up – and you don’t have to take our word for it. A recent study by PricewaterhouseCoopers, and before it, GAO, CBO, CRS and others, demonstrates that budget scorekeeping rules seriously understate the true costs of the Federal Direct Student Loan Program. Full Article |
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(03/14) ASLP ASKS CONGRESS FOR BUDGET SCOREKEEPING CHANGES AND MORATORIUM ON EXPANDING DIRECT LOAN PROGRAM
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America’s Student Loan Providers today asked Congress to correct problems in budget scorekeeping rules that prevent federal budget estimators from providing a fair comparison of the true costs of the privately run guaranteed student-loan program and the Education Department’s direct loan program. Full Article |
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(03/04) FIX BUDGET SCOREKEEPING RULES, LOAN PROVIDERS URGE
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New PricewaterhouseCoopers Study Highlights Long-Identified Problems America’s Student Loan Providers issued the following statement by Executive Director Kevin Bruns regarding the PricewaterhouseCoopers study, “The Limitations of Budget Score-keeping in Comparing the Federal Student Loan Programs”, which was released yesterday in Washington, D.C. Full Article |
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February
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(02/17) America’s Student Loan Providers issues statement
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| on Washington Post editorial published today concerning the Federal Family Education Loan Program (FFELP) and the introduction by Sen. Kennedy (D-MA) of S. 371, the College Quality, Affordability, and Diversity Improvement Act of 2005 (the Quad Act): Full Article |
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(02/08) President's budget shows that the private sector student loan program is the best value for students and taxpayers
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| America’s Student Loan Providers issues statement on the President’s budget Full Article |
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January
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(01/14) America’s Student Loan Providers issue statement on the Direct Loans Reward Act:
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| America’s Student Loan Providers opposes the Direct Lending Rewards Act because it induces schools to participate in the Direct Loan Program with a promise of future savings – savings that have never materialized during the entire 10-year history of the Direct Loan program. Full Article |
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