February 21, 2008
Cohort Default Rates
On February 11, 2008, the Department of Education (ED) released FY 2006 Draft Cohort Default Rates to all eligible schools for informational purposes. The cohort default rate is defined as the percentage of a school's borrowers who enter repayment on Federal Stafford, Federal SLS, or Direct Stafford loans during a particular federal fiscal year and default or meet other specified conditions prior to the end of the next fiscal year.
2007-2008 Negotiated Rulemaking Update
As reported in the January 31, 2008 Legislative Update, negotiated rulemaking is underway for both the Teacher Education Assistance for College and Higher Education (TEACH) Grant program and Student Loan (other Federal student aid programs authorized by Title IV of the Higher Education Act) teams.
President's Fiscal Year 2009 Budget Proposal
On February 4, 2008, President Bush submitted his $3.1 trillion FY 2009 budget proposal to Congress. The budget proposal, which sets funding levels for the Department of Education (ED) and other federal agencies, requests nearly $60 billion for education programs and provides for a $2.7 billion increase in federal Pell Grants.
Financial Aid Awareness Week
To celebrate Gov. Brad Henry's proclamation of February 24 through March 1 as "Financial Aid Awareness Week," we're highlighting some of the vital initiatives and activities OGSLP engages in throughout the year to promote the important messages of college access, community outreach, and financial literacy.