September 14, 2016
Flash Edition
On Aug. 15, 2016, the Department published Federal Register Vol. 81, No. 157, inviting postsecondary
education institutions to participate in experiments under the Experimental
Sites Initiative. The new experiment
will allow colleges to require, as a condition of receiving Direct Loan funds,
loan counseling to students beyond the statutorily required one-time entrance
and one-time exit counseling. It also will test whether requiring additional
loan counseling is effective in boosting academic outcomes and helping students
manage their debt.
Through this experiment, the Department plans to learn if the loan
counseling flexibility
- helps students make more informed decisions about
borrowing student loans;
- promotes successful repayment of students loans,
including reducing delinquencies and defaults; and
-
has a positive impact on students’ academic
performance, such as grades and completion rates.
For application instructions to be considered for participation in this
experiment and for more information, please click on the IFAP and Federal Register notice links. Letters of interest must be
received by Sept. 29, 2016.
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