Campus Talk: Student Loan Crisis Driven By Upsurge In For-Profit Colleges

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STUDENT LOAN CRISIS DRIVEN BY UPSURGE IN FOR-PROFIT COLLEGES
In a new report on the student loan crisis, the Brookings Institute takes a look at a new study by the U.S. Department of the Treasury and Stanford University that examines the rise in student loan delinquency and defaults drawing on a unique set of administrative data on federal student borrowing matched to earnings records from identified tax records.

With outstanding federal student loan balances in the U.S. exceeding $1.1 trillion – quadrupling over the last 12 years and more than any other type of household debt except mortgages – the research finds that most of the increase in default is because of an upsurge in the number of borrowers attending for-profit schools. To view the recent edition of Brookings Papers on Economic Activity, click here.

OBAMA ADMINISTRATION AWARDS $60 MILLION IN GRANTS FOR EDUCATION INNOVATION
The Education Department has awarded nearly $60 million to 17 colleges and universities in its “First in the World” grant program. The 17 recipients represent 14 states; ten public, private, and nonprofit four-year institutions; five public two-year institutions; and two educational agencies or organizations. Nine of the 17 winning applications were submitted by minority serving institutions (MSIs), three of which were Historically Black Colleges and Universities (HBCUs).

Many of the grants will support collaborations among multiple partners – among as many as ten colleges or universities, between two- and four-year institutions, or with non-profit partners focused on college access and student data. Given the high level of interest in and need for innovation in postsecondary education, the President’s FY2016 budget has requested $200 million for the grants, but congressional proposals would eliminate the program altogether.

ASU BOARD OF TRUSTEES, WELCH PRAISE CAMPUSES FOR ENROLLMENT TRENDS
The Arkansas State University Board of Trustees and President Charles L. Welch on Friday praised ASU System campuses for exceeding state enrollment growth trends for the fall semester. Welch told trustees during a regular meeting at the ASU-Newport campus that he was “very pleased” with system-wide enrollment of 23,410. Read more of what’s happening at ASU’s system campuses here.

NASA SEEKS BIG IDEAS FROM COLLEGE STUDENTS FOR MARS TRIP
NASA is giving university and college students an opportunity to be part of the agency’s journey to Mars with the Breakthrough, Innovative, and Game-changing (BIG) Idea Challenge. The NASA program is seeking innovative ideas for generating lift using inflatable spacecraft heat shields or hypersonic inflatable aerodynamic decelerator technology.

NASA’s Mars Curiosity rover is the heaviest payload ever landed on the Red Planet – weighing in at only one ton. To slow a vehicle carrying a significantly heavier payload through the thin Martian atmosphere and safely land it on the surface is a significant challenge. NASA is addressing this challenge through the development of large aeroshells that can provide enough aerodynamic drag to decelerate and deliver larger payloads. Interested teams of three to five undergraduate and/or graduate students are asked to submit white papers describing their concepts by Nov. 15. For more information about the challenge and details on how to apply, visit the BIG Idea website.