HBCUs Still Waiting for Solution to Parent PLUS Loan Crisis - Higher Education: Higher education institutions across the nation began closing this week for the winter break with no news from the U.S. Department of Education on whether it will resolve disputes over the popular Parent PLUS Loan (PPL) program in time to avoid another blow to the fall 2014 recruiting season, now in high gear.
Last-minute efforts earlier this month to alleviate differences between college presidents and the DOE collapsed at the last minute when a planned meeting in Washington, organized by the Congressional Black Caucus, was canceled with no future date set. Some 15 presidents of Historically Black Colleges and Universities (HBCUs) were scheduled to participate with several members of Congress and DOE Secretary Arne Duncan.
One president, when asked if he knew why the meeting was canceled, said he was told to “blame it on the weather.”
The PPL program, which an increasing number of families utilized in the last decade for federal loans to help send their child or children to college, was popular despite having an interest rate slightly higher than other college loans. It made choosing a higher priced institution ostensibly more appealing because, until 2012, there was no cap on the loan amount.
