The Pell Grant program's total cost decreased by $2.2 billion last year even though the total number of grant recipients increased, resulting in smaller awards for lower-income students, Inside Higher Ed reported. Some of the reductions resulted from the elimination of the year-round Pell Grant, which allowed students to qualify for two awards in a year, a measure passed despite the Obama administration's unwillingness to reduce grants. Much of the decrease, however, may have been caused by a decline in enrollment at for-profit universities, whose students typically require more financial aid than other students.
Cote Laramie, a junior at Harvard University, committed suicide on Thursday at his Pembroke, N.H., home, The Harvard Crimson reported. Laramie, a psychology major, was a member of the Harvard Glee Club and Sigma Alpha Epsilon fraternity. Students wrote messages commemorating Laramie and displayed them in the Pforzheimer House lobby over the weekend. Several mentioned Laramie's musical talents, and his "enthusiasm" and "friendliness" in their notes, The Crimson reported.
An increasing number of Americans are struggling to pay off their student loans, The New York Times reported. About 5.9 million people nationwide have fallen at least 12 months behind in making payments, an increase of about 30 percent over the last five years. The government has extended its successful tools for debt collection to collection firms, averaging a recovery rate of 80 cents for every dollar that is defaulted, The Times reported. Business is booming at debt collection agencies, but many borrowers do not see an alternative to defaulting, due to factors such as illness and unemployment. Education officials are in the process of making changes to address this issue, potentially by reducing the default rate, according to The Times.
