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PLUS Loan Fiasco: Arne Duncan’s Letter to Rep. Marcia Fudge

PLUS Loan Fiasco: Arne Duncan’s Letter to Rep. Marcia Fudge

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$7.5 million lost at Howard University
$6 million lost at Hampton University
$4 million lost at Morgan State
$2.5 million lost at Spelman College
$3 million lost at Morehouse College  (see WPost)

The Letter. The President of Morgan State. where Secretary of Education Arne Duncan gave the commencement this year, told 8 million listeners on the Tom Joyner Morning Show that Morgan State will lose $4 million in tuition.  Last year, HBCUs collectively lost at least $160 million in lost tuition after the Dept. of Ed made the credit evaluation longer (3 month to 5 years) changed the credit Parent PLUS loan. Endless meetings have occurred on the issue already. Below is the letter from Duncan to CBC Chair Fudge. The CBC and HBCU Presidents want the Parent PLUS regs to go back to where they were pre-2012.

 

 

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