We quantify the total stock of balances eligible for the Biden administration's 2022 student loan forgiveness proposal and examine which groups would have benefited most. Up to $442 billion in loans were eligible. Those who would have benefited most were younger, had lower credit scores, and lived in lower- and middle-income neighborhoods. We also…

In academic year (AY) 2018-2019, approximately 6,400 institutions of higher education (IHEs), enrolling about 26.5 million postsecondary education students, participated in the federal student aid programs authorized under Title IV of the Higher Education Act of 1965 (HEA; P.L. 89-329, as amended). These IHEs ranged in sector, size, and…

In 2016, the federal government provided students pursuing higher education with about $91 billion in direct financial support through a wide variety of spending programs and income and payroll tax preferences, the Congressional Budget Office estimates. The largest programs and preferences give financial assistance to students to offset the cost…

Student debt balances are ballooning, posing a serious threat to the financial security of millions of borrowers across the country. In the last 15 years, total outstanding student debt has grown six-fold and now hovers at over $1.5 trillion. Student debt has significant short- and long-term impacts on individuals, their communities, and the…

Federal free-college policies are now at the center of the Democratic higher education agenda. Sen. Bernie Sanders helped move the idea into the mainstream during the 2016 presidential campaign, and other lawmakers have since worked to advance the policy in Congress. Joe Biden effectively put free college on the ballot in 2020 when he fully…

This one-page document presents The Institute for College Access & Success' (TICAS') recommendations for ways to improve the targeting of higher education tax benefits. The TICAS white paper, "Aligning the Means and the Ends: How to Improve Federal Student Aid and Increase College Access and Success," recommends almost entirely…

This document records testimony from a hearing before the Committee on Education and Labor to examine the policies and priorities of the United States Department of Education. Member statements were presented by: (1) Honorable Robert C. Scott, Chairman, Committee on Education and Labor; and (2) Honorable Virginia Foxx, Ranking Member, Committee on…

This paper examines the U.S. social insurance system, which we define broadly to include both programs supported by dedicated taxes and other federal programs that provide income support, assistance in meeting basic needs, or services to improve economic opportunity. The paper considers the social insurance system as a whole as well as its…

The "2018-19 Counselors and Mentors Handbook on Federal Student Aid" provides useful information to help high school counselors, TRIO and Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP) staff, and other mentors advise students about financial aid for postsecondary education. This book focuses on the federal…

With the growing demand for college-educated workers, a college education is one of the surest ways into the middle class. To help more students afford and graduate from college, the Administration has taken steps to address these challenges -- doubling Federal investments in Pell Grants and college tax credits, reforming student loans, and taking…

The 2017-18 "Counselors and Mentors Handbook on Federal Student Aid" provides useful information to help high school counselors, TRIO and Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP) staff, and other mentors advise students about financial aid for postsecondary education. This book focuses on the federal…

This report provides a detailed look at the sources and distribution of grants, loans, and other student aid for the most recent academic year and how this funding has changed over time. The federal government provided two-thirds of all student aid in 2016-17, but only one-third of the grant aid. In the context of uncertainty about the timing of…

The Committee for Economic Development (CED) is pleased to present these research findings regarding ways to reform student financial aid. In 2012, CED released "Boosting Postsecondary Education Performance"--calling on business to become active advocates at the state level for broad-access institutions that are so vital to the nation's…

The federal financial aid system is no longer up to today's demands. Built in a different era, its haphazard evolution over the decades has made it inefficient, poorly targeted, and overly complicated. With the need for higher education never greater and college growing increasingly unaffordable, students deserve a streamlined aid system that is…

Data on student aid for 2015-16 confirm that the dramatic increases in aid awarded in 2009-10 and 2010-11 were products of extreme economic circumstances, not harbingers of long-run changes in financing for postsecondary education. Both total federal education loans and federal loans per full-time equivalent (FTE) student declined for the fifth…