The Education Department has made it harder for parents to borrow on behalf of their children in college over the past year.

The Education Department has made it harder for parents to borrow on behalf of their children in college over the past year.

Historically black universities state these are generally disproportionately impacted.

WASHINGTON — When it comes to year that is past moms and dads hoping to borrow a federal loan to their college student’s behalf are finding those loans are harder to have than they was once.

A little-noticed Education Department improvement in October 2011 included brand new underwriting requirements for the PLUS loan, the federal financing system for parents and graduate pupils. The modifications made needs more strict and appearance to own triggered a surge in denials, including some to moms and dads who had previously been in a position to simply simply take out of the loans in past years.

According to final year’s styles, nearly 50 % of would-be PLUS borrowers this year that is academic be turned away, in accordance with an analysis by Mark Kantrowitz, publisher of Finaid.org. Continue reading “The Education Department has made it harder for parents to borrow on behalf of their children in college over the past year.”