On April 24, CGS submitted comments to the Consumer Financial Protection Bureau (CFPB) regarding the agency’s proposed information collection activity, titled, “Student Loan Servicing Market Monitoring”, which looks to make student loan portfolio, performance, and repayment plan information more accessible and transparent. CGS urged the Bureau to be mindful of the information gap that exists in the data collection of graduate borrowers and encouraged CFPB not only to disaggregate by broad loan type, but also by degree type within graduate and professional programs (e.g., master’s, doctorates, and professionals).
On February 21, CGS President Suzanne Ortega sent a letter to the House Committee on Education and the Workforce with respect to comments made at a February 7 hearing regarding proposals to either scale back or eliminate the Grad PLUS program.
The Council of Graduate Schools (CGS) sent a letter to the Department of Education (ED) offering suggestions for the agency to consider before ED unveils a pilot program that would let colleges and universities experiment with requiring additional loan counseling beyond what is already mandated by federal law. In the letter, CGS encouraged ED to consider the unique financial information needs of master’s and doctoral students when making awards to experimental sites.
On June 21, CGS President Suzanne Ortega sent a letter to the House Committee on Education and the Workforce regarding H.R.3179, the Empowering Students Through Enhanced Financial Counseling Act. The letter emphasizes that while CGS appreciates the Committee’s interest in helping students and families make informed decisions regarding financing their education, policymakers should also consider the unique financial information needs of master’s and doctoral students, as have different financial needs and circumstances than those of undergraduates.
On June 3, CGS submitted comments and feedback to the Consumer Financial Protection Bureau (CFPB) regarding the agency’s Student Loan Payback Playbooks, a digital tool designed to assist borrowers better understand available repayment options for paying off student debt. CGS urged the Bureau to be mindful of the information needs of graduate borrowers, which may be different from those of undergraduate borrowers, and offered modifications to the tool to better serve graduate students.
On May 11, CGS sent a letter to the U.S. Treasury Department in response to the agency’s feedback solicitation on its national strategy to promote financial success. The Financial Literary and Education Commission is updating the national strategy document, which was last updated in 2011. In the response, CGS highlighted the Enhancing Student Financial Education project and encouraged the Commission to consider graduate schools as a part of broader financial education infrastructure.
On April 8, CGS sent a letter in response to the Department of Education’s request for comments regarding changes to the Integrated Postsecondary Education Data System (IPEDS). CGS encouraged the Department to disaggregate enrollment data of graduate students by degree objectives (e.g., master’s degree, doctor’s degree-research/scholarship, etc.). Having such data available would offer more meaningful insight into the state of graduate education in the U.S.