Loan changes may impact African American students negatively – Congressional Black Caucus

The Education Department points out that students whose parents are denied PLUS loans automatically become eligible for an extra US$4,000 in loans that are more flexible and carry lower interest rates. In time for this academic year, the department has also started to send regular reports to affected parents and schools showing how applicants can have their credit check reconsidered.

According to the United Negro College Fund, 28,000 students attending historically black colleges and 400,000 students nationwide were initially denied PLUS loans.

Copyright 2013 The Associated Press

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