Representatives of historically black colleges, whose institutions were among those hardest hit by the U.S. Department of Education's abrupt tightening of credit standards for PLUS loans for parents more than two years ago, told the department on Friday that the simplest way to fix the problem would be to just revert to the standards it used before the fall of 2011.
"This is not a program in trouble," and the department is not a bank, said David Swinton, president of Benedict College and one of 33 officials on a negotiated rule-making committee looking at the loan issue and othertopics. "Your job is to promote education."
The department's changes, he said, had done just the opposite.
Read more at The Chronicle of Higher Education: http://chronicle.com/article/Negotiators-Wrestle-With-How/144957