Weekly Roundup

Direct Loan Volume Soars in Response to Credit Crunch

Spellings Presents Plan to Shrink the FAFSA

Ed Dept. Underestimates Improper Payments to Lenders, IG Reports

New IRS Form Questions Colleges on Spending, Endowments

Congress Takes Initial Steps to Prevent Pell Shortfall

Panel Calls for Less Emphasis on SAT for Admissions

Remedial Courses Cost Colleges and Taxpayers $2.3 Billion, a New Report States

Congress Approves One-Year Extension of Student Loan Bail Out Bill

Ed Department Projects Pell Grant Shortfall of $6 Billion

Panel Presents Plan for Overhauling Federal Student Aid Programs

Student Loan Defaults are on the Rise

No Loan Crisis Here, Report New England Colleges

Sen. Grassley Requests New IRS 990 Form for Colleges

Survey Reveals How Families Pay for College

Cuomo Moves to Sue Loan Company

Education Department Reports 43 Percent Growth in Direct Loan Program

Audit Urges Restructuring of PHEAA's Board

Congress Returns, and so Does the Endowment Debate

President Bush Quietly Signs Higher Education Act Into Law

No Need for Additional Loan Changes for Now, Congressional Research Service Says

Massachusetts Calls Off Plan To Rescue Lender

ACT Exam's Popularity Increases

Boost for Pre-K in Michigan

Michigan Governor Jennifer Granholm (D) signed legislation on Wednesday that will boost funding for the state pre-k program, the Great Start Readiness Program, by $10 million. This is far short of the $31.5 million Gov. Granholm had asked for, which would have expanded the program to 7,000 more children. The program currently serves more than 25,000 low-income children across the state.

IG Faults Dept. of Ed's Management of Grant Programs

Shareholders Suffer Setback in University of Phoenix Lawsuit

Massachusetts Governor Asks Colleges to Help Save Lender

Massachusetts Governor Signs Universal Pre-K Into Law

Universal pre-k is now a reality in Massachusetts -- on paper, at least. Last week, Massachusetts governor Deval Patrick signed the Act Relative to Early Education and Care, which formally establishes a Department of Early Education and Care and establishes a pre-kindergarten program available to all three- and four-year olds in the state. The bill, however, does not come with funding for new pre-k classes. Massachusetts boosted its pre-k budget by $3 million this year, though a state budget shortfall thwarted proposals for much more substantial increases. Nearly 18,000 - or about 10 percent - of the state's three- and four- year olds are enrolled in public pre-k classes.

Congress Finally Approves Higher Education Act

In a Reversal, McCain Announces Opposition to Affirmative Action

Report on State Financing for Higher Education Presents a Mixed View