Feedback and Evaluation for a Federal Program to Give...

The Government as far back as the 1950s backed subsidized and unsubsidized student loans. However, over the years the cost of a college education has increased and has become a financial burden for some families as their debts began to rise. The U. S. Department of Education amended the Title IV of the Higher Education Opportunity Act of 1965. Student loans are a form of financial aid that a student can receive while in college and consist of federal loans and private loans. The Internal and External feedback mechanisms A high number of students are graduating from college with a debt that is stemming from student loans with high interest. Over the years, students who entered into low paying positions after college or experienced a†¦show more content†¦The financial markets begin to show signs of non-payments of credit on student loans, which was alarming to policy makers who eventually intervened. The feedback received from this brought on the amendment of the Title IV of the Higher Education Act. Students were struggling to make ends meet with the worry of repaying their student loans as they entered into the workforce, they found that they were unable to purchase homes, prepare for retirement, nor have the option to start their own small businesses and so forth. Suggestions were made to the task force for policymakers to implement repayment options that would be affordable to students, and have private lenders to restructure loans. Anoth er suggestion was to repair a student’s credit if and when they repay their loan in full. Federal student loans can be issued directly to the student or to the parents. However, if that loan is made to the student, the student is not required to make any payments if enrolled as a part-time student. Should the student drop below the part-time status, there is a six month grace period to rekindle your status and the payments will be deferred, otherwise there is no grace period. Any loans made to the parents can have large loan amount, however, payments will have to start immediately. Private loans can be made toShow MoreRelatedThe American Education System Is Important For National Prosperity And Individual Success1424 Words   |  6 Pagessuccess. Huge achievement gaps and opportunities must shrink to non-existence, and every student must receive a well education that prepares them for college and careers in the world as it is today. Comparing the United States education s ystem to other countries shows that the United States scored lower than nineteen other counties and education systems in reading in the 2012 Program for International Student Assessment. 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