Dive Summary:
- The Obama administration has made changes to the PLUS loan program, after some black lawmakers said many previously eligible applicants were being denied under tighter rules.
- The United Negro College Fund said 400,000 students were initially denied PLUS loans before the rules were relaxed.
- Parents denied loans may ask for reconsideration under the new policy.
From the article:
... The Education Department says families that have recent but small-scale debt may now become eligible for PLUS loans through appeals. The change in the program was announced in a letter dated Tuesday to Rep. Marcia Fudge, D-Ohio, chairwoman of the Congressional Black Caucus. A copy of the letter was obtained Wednesday by The Associated Press. ...