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24 Jan

Scrutiny regarding misuse of governmental loan subsidy funds by lending institutions and for-profit colleges was occurring. High unemployment meant students could not make payments on the loans and were defaulting at record rates.The Student Aid and Fiscal Responsibility Act (SAFRA) proposed in 2008 and passed in 2009 rewrote student financial aid rules in a positive way and outmoded the ineffective old student loan system....President Donald Trump welcomes Prime Minister Justin Trudeau outside the West Wing of the White House in Washington, Monday, Feb. AP Photo/Andrew Harnik " data-medium-file="https://shawglobalnews.files.wordpress.com/2017/02/trudeau-trump_2.jpg? quality=70&strip=all&w=300" data-large-file="https://shawglobalnews.files.wordpress.com/2017/02/trudeau-trump_2.jpg? quality=70&strip=all&w=720" /epa06311370 (FILE) – A view of the beach at Pompano Beach Club in Southampton, Bermuda, 14 June 2017 (reissued 06 November 2017).Media reports on 05 November 2017 state that a leak of financial documents dubbed the Paradise Papers with 13.4 million documents has revealed how powerful and ultra-wealthy people secretly invest vast amounts of cash in offshore tax havens.In reality, year after year the trend has been for universities to increase rates.In fact, according to Larry Abramson of NPR, “tuition and other costs have been going up faster than inflation, and family incomes can’t keep up" (2012)....[tags: Student Loan Issues, College, Education] - ...The task force consisted of some members of Congress, the Labor Department, Health and Human Services, Business Community, Interest Groups, College Students and the Office of Management and Budget.

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Over the past decade, the agency has steadily expanded its arsenal for dealing with former students who don't repay.

The goal of the task force for education was to expand education, and create more training opportunities.

The task force would be faced with developing a plan for payment plans based on income for students with loans from private lenders.

For one, academic institutions in and of itself cannot deny their responsibility for instigating the crisis.

For example, when was the last time, at least in recent years, that anyone heard of a university actually lowering their tuition fees.