To: President Donald Trump, The United States House of Representatives, and The United States Senate
Restoring Access to Parent Loans
Restore the eligibility rules for parent loans to those used in 2011-2012.
Why is this important?
Dear Secretary Duncan
One of the most viable tools to fund post graduate education, the Parent Loan is currently encumbered by a new set of guide lines which has prevented 16% of low income students the ability to either embark on or continue their education. The former president of Bennett College Dr. Julianne Malveaux and the United Negro College Fund have indicated that if the present guidelines remain in place the number of students negatively impacted will continue to rise.
Under the guise of reducing student loan default the eligibility rules for Parent Loans were tighten and under the revised 2014-15 rules any parent who has had one delinquency within the past twelve months will not qualify for the loan. The data indicates that parent loans have the lowest default rate of any education funding product currently available therefore tightening the eligibility rules was completed unnecessary.
Please set your administrative prowess in action and restore the former guidelines and ensure that this decline in ability to pursue a post graduate education does not continue into the 2014-2015 academic year and ensure that restricting access will not continue to contribute to generational poverty.
Your prompt and affirmative response would be greatly appreciated.
Sincerely yours,
One of the most viable tools to fund post graduate education, the Parent Loan is currently encumbered by a new set of guide lines which has prevented 16% of low income students the ability to either embark on or continue their education. The former president of Bennett College Dr. Julianne Malveaux and the United Negro College Fund have indicated that if the present guidelines remain in place the number of students negatively impacted will continue to rise.
Under the guise of reducing student loan default the eligibility rules for Parent Loans were tighten and under the revised 2014-15 rules any parent who has had one delinquency within the past twelve months will not qualify for the loan. The data indicates that parent loans have the lowest default rate of any education funding product currently available therefore tightening the eligibility rules was completed unnecessary.
Please set your administrative prowess in action and restore the former guidelines and ensure that this decline in ability to pursue a post graduate education does not continue into the 2014-2015 academic year and ensure that restricting access will not continue to contribute to generational poverty.
Your prompt and affirmative response would be greatly appreciated.
Sincerely yours,