Veterinary Debt Initiative (VDI) released its new educational resource at the 2019 AVMA Convention in Washington, D.C., August 2-6. What’s The Story Behind Tuition is the latest resource from VDI to help answer student questions about veterinary college tuition. Convention attendees were briefed on VDI’s progress during three continuing education sessions sponsored by VDI: Decisions, Decisions: Repayment Strategies for New Veterinarians Contract Negotiations: Beyond Bargaining Games and Tactics The Market for Veterinary Education and How It Affects You! VDI is led by the American Veterinary Medical Association, the Association of American...

Here’s what Inside Higher Ed reporter Andrew Kreighbaum recently wrote about the current administration’s reduction of student loan servicer oversight: “After the Trump administration dialed back oversight of student loan servicers, states have responded to demands from consumer groups by passing new laws targeting companies that handle millions of borrowers' payments.“ Kreighbaum added, “Lawmakers in a growing number of states have sought to tackle student debt as a consumer protection problem. Over the first half of 2019, legislatures have enacted a flurry of bills taking aim at the companies that...

United States Department of Agriculture (USDA) National Institute of Food and Agriculture (NIFA) is moving to the Kansas City region. This means that the Veterinary Medicine Loan Repayment Program (VMLRP) and the Veterinary Services Grant Program (VSGP), administered by NIFA, will also be moving out of Washington, D.C. Like 75% of NIFA’s workforce, Dr. Michelle Colby who leads VMLRP and VSGP, will not be relocating. Veterinary Debt Initiative co-lead organizations the American Veterinary Medical Association (AVMA) and the Association of American Veterinary Medical Colleges (AAVMC) recently sent a letter to NIFA...

The July 15 issue of the Congressional Research Service In Focus explores income share agreements as an alternative to student loans for financing higher education expenses. The report provides “an overview of ISAs along with a comparison to student loans. Because no federal ISA program currently exists and the majority of student loan debt is associated with the federal student loan program, the overview and comparison primarily focuses on private ISAs and federal student loans but generalizes some parts of the discussion to highlight particular features of each financing approach.”...

New research sponsored by the Teachers Insurance Annuity Association (TIAA) and conducted by the Massachusetts Institute of Technology (MIT) AgeLab showed that student loans impact many aspects of borrowers’ lives. TIAA reports: “The yearlong study, which explores the intersection of student loan debt, longevity planning and family dynamics, shows that life stage — and who the loans are being taken out for — plays a key role in the balancing act of paying off student debt and saving for retirement.” The research found dealing with student loans can be very...

New survey results from studentloanplanner.com found that marriages and life aspirations are impacted by student debt. BenefitsPro reporter Marlene Satter provided commentary on the survey in “Student loans put the kibosh on kids”.** “There are plenty of life plans that fall by the wayside for people carrying a big load of student loan debt, and having children is just one of them.” The survey found that “not only did 51 percent of student loan borrowers say those loans have affected their plans for having kids, a third of those with...

Veterinary Debt Initiative co-lead organizations the American Veterinary Medical Association (AVMA) and the Association of American Veterinary Medical Colleges (AAVMC) are integral parts of “The Coalition to Preserve PSLF*.” The coalition continues to push Department of Education Secretary Betsy DeVos to address the PSLF’s administrative problems. Specifically, the coalition sent a letter to remind the secretary she has the authority to waive requirements that borrowers be employed at a public service job when they apply for and receive PSLF even if they have fulfilled the requirements.The AVMA and AAVMC work...

EVERFI, with sponsorship by AIG, surveyed over 30,000 college students about their financial knowledge, experience, behaviors and perspectives. The report, “2019 Money Matters on Campus,” stated that “These adults are suffering from a lack of financial capability long before they enter the workforce and employers will need to be aware of how these attitudes and behaviors may impact their job performance.”...

The Association of American Veterinary Medical Colleges (AAVMC) and many others in the higher education community recently sent a letter to Congress urging lawmakers to support funding for student aid programs for graduate and professional students as it works toward reauthorizing the Higher Education Act (HEA). The groups wrote “decisions made by Congress in the past relative to student loans have made graduate and professional education more expensive for students, such as charging them higher interest rates on loans, and eliminating the in-school interest subsidy for graduate students.” The groups...

Researchers from the Federal Reserve Bank of New York released “Quarterly Report on Household Debt and Credit” which found student loans outpacing other household debt among most severely delinquent loans. Here’s commentary from Inside Higher Ed on the report: “A new report shows student loans outpacing other household debt among most severely delinquent loans…Defaulted student loans have surpassed all other types of household debt classified as "severely derogatory," including mortgage and credit card debt.” The article added, “Fed researchers defined severely derogatory debt as any kind of delinquent loan combined...