Modifying the Federal Loan Guarantee Provision in the Higher Education Act of 1965: An Overview of Federal Loan Policies that Have Transitioned Higher Education from the Social Good.

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Bibliographic Details
Title:	Modifying the Federal Loan Guarantee Provision in the Higher Education Act of 1965: An Overview of Federal Loan Policies that Have Transitioned Higher Education from the Social Good.
Authors:	Collier, Daniel A.¹, Herman, Richard¹
Source:	Higher Education in Review. 2016 Special Issue, p9-23. 15p.
Subject Terms:	*Higher education laws, Higher Education Act of 1965, Government guaranty of loans
Abstract:	The federal loan guarantee provision found in the Higher Education Act of 1965 was instrumental in encouraging banks to write smaller loans to help middle class Americans go to college and therefore, was influential in massifying America's higher education system. While this provision was created with the best of intentions, the modifications of this policy and subsequent practices has led the funding of higher education away from social coffers and towards those linked with privatization. This document explores the transition from grants and scholarships towards loans, defunding of public institutions, introduction of unsubsidized loans, payment schemes, and the stripping of bankruptcy protections. Essentially, the authors argue these modifications promoted increased reliance on loans, therefore promoting a private-like "aid" that has moved higher education from the social good. The article concludes with various suggestions for policymakers and grassroots organizers designed to reduce policies that promote personalized debt and pull higher education back towards the social good. [ABSTRACT FROM AUTHOR]
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Database:	Education Research Complete

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Abstract:	The federal loan guarantee provision found in the Higher Education Act of 1965 was instrumental in encouraging banks to write smaller loans to help middle class Americans go to college and therefore, was influential in massifying America's higher education system. While this provision was created with the best of intentions, the modifications of this policy and subsequent practices has led the funding of higher education away from social coffers and towards those linked with privatization. This document explores the transition from grants and scholarships towards loans, defunding of public institutions, introduction of unsubsidized loans, payment schemes, and the stripping of bankruptcy protections. Essentially, the authors argue these modifications promoted increased reliance on loans, therefore promoting a private-like "aid" that has moved higher education from the social good. The article concludes with various suggestions for policymakers and grassroots organizers designed to reduce policies that promote personalized debt and pull higher education back towards the social good. [ABSTRACT FROM AUTHOR]
ISSN:	15565424