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☆ Why more and more colleges are closing down across the U.S.
  + stars: | 2023-06-17 | by ( Devan Burris | ) www.cnbc.com   time to read: +2 min
The mid-2010's saw an uptick in U.S. college closures, particularly among private nonprofit schools. This trend has affected tens of thousands of college students across the country. Since 2016, 91 U.S. private colleges have closed, merged with another school, or announced plans to close, according to a CNBC analysis of data from Higher Ed Dive. About 95% of U.S. colleges rely on tuition, according to Franek, meaning they rely on money from students to operate. Watch the video above to learn what headwinds higher education is facing and hear from students affected by college closures.
Persons: Robert Franek, We'll, Fitch, Emily Wadhwani Organizations: CNBC, The Princeton
☆ College costs keep snowballing despite Biden’s efforts to ease student debt burden
  + stars: | 2022-10-01 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com   time to read: +6 min
Loans from private banks have gone up even faster, with some charging more than 13% for student loans this fall, people familiar with the industry said. Borrowers with existing loans that have variable rates have started seeing their monthly payments go up from the higher rates, they said. Increased costs mean many students have to borrow more money at higher rates, further exacerbating the student debt problem the Biden administration set out to address. The problem is the cost of higher education,” said Betsy Mayotte, president of The Institute of Student Loan Advisors. “We commend this administration for responding to the call of addressing of the student loan debt crisis,” said Derrick Johnson, president of the NAACP.
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