Historically colleges that are black these are typically disproportionately impacted.
WASHINGTON — For the previous year, moms and dads hoping to borrow a federal loan to their college student’s behalf have discovered those loans are harder to obtain than they had previously been.
A little-noticed Education Department improvement in October 2011 included underwriting that is new for the PLUS loan, the federal financing system for parents and graduate pupils. The modifications made needs more strict and appearance to possess triggered a spike in denials, including some to moms and dads who had been in a position to simply simply take the loans out in previous years. (more…)