The U.S. Department of Education is scrutinizing their PLUS loan program in order to adjust government lending programs with industry standards to lower default rates.
Adding tougher eligibility requirements have changed the way families and schools budget their tuition across the nation, but black colleges were especially hit because many students are from low income families.
The National Association for Equal Opportunity in Higher Education is a group that represents black colleges. According to the association, more than 14,000 students in black colleged were denied PLUS loans last fall.
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