In difficult dinner-table conversations, college students and their parents are revisiting how to pay tuition as their personal finances weaken and lenders get tough.
Stanford University on Wednesday became the latest prominent university to expand financial aid well into the middle class. It announced that students from families earning less than $100,000 a year would not be charged tuition.
Soaring compensation of university presidents, once limited to a few wealthy institutions, is becoming increasingly common, with the number of million-dollar pay packages at private institutions nearly doubling last year, and compensation at many public universities not far behind.
Tuition and fees at public and private colleges and universities rose at more than double the rate of inflation, the College Board said in reports released Monday morning.
Colleges and universities from Massachusetts to California began receiving formal requests for information Feb. 2 from the New York attorney general’s office as part of an investigation of financial relationships they or individual college officials have with student loan companies.
Sallie Mae, the nation's largest lender to college students, agreed Wednesday to pay $2 million to settle an investigation by the New York attorney general's office and said it would close down student call centers it has run for college financial aid offices.
Andrew M. Cuomo, New York's attorney general, announced Thursday that he planned to bring a civil lawsuit against a student lending company for deceptive business practices, accusing it of paying colleges and universities to steer student borrowers toward its loans.