The student loan crisis in the US continues to escalate, with soaring tuition costs forcing students to rely heavily on loans. This article delves into common mistakes that contribute to inflated student loan balances and offers valuable insights on avoiding these pitfalls to navigate the debt effectively.
Three white undergraduates at the University of Oklahoma have filed a class action lawsuit against the school, alleging that it violates their equal protection rights by awarding financial aid based on race. The lawsuit claims that Black students receive more financial grants compared to other racial groups, even when controlling for factors such as family income.
The lawsuit cites several examples of university programs and events that are allegedly exclusionary on the basis of race, including a three-day “Welcome Black Weekend” orientation for incoming students. The plaintiffs argue that the university’s “race-based financial aid decision making” has resulted in them receiving fewer grants than they would have if the school did not discriminate on the basis of race.
The lawsuit comes after the Supreme Court ruled in 2023 that the use of race in admissions violated equal-protection rights, ending prior leniency toward such programs. The University of Oklahoma has not yet commented on the lawsuit.
The escalating cost of education is a growing concern, with sticker prices consistently outpacing inflation. The author argues that colleges and universities must be required to control their expenses and that forgiving existing student loans will only provide a temporary solution. Instead, they propose tying annual tuition increases to the rate of inflation and restricting federal loan eligibility to schools that adhere to these criteria.
Cathedral High School, a South End landmark for nearly a century, has received its largest-ever gift: a $30 million matching grant from an anonymous donor. This generous donation will enable the school to continue its mission of providing an affordable education to students from all backgrounds, regardless of their financial circumstances. About 98 percent of Cathedral’s 340 students are Black or Latino, and the vast majority are from the city. Every student receives some form of financial aid, with most paying only a small fraction of the $20,000 annual tuition.
New York state has significantly increased the minimum award students can receive through the state’s Tuition Assistance Program (TAP), making higher education more accessible for thousands of state residents. TAP provides grants to eligible students attending approved schools in New York, easing the financial burden of tuition costs. The recent state budget increase will benefit approximately 93,000 students, with 48,000 newly qualifying for TAP. The minimum award amount has been raised from $500 to $1,000, and income eligibility limits have been expanded, making it easier for students from diverse backgrounds to access TAP funding.
