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May 2014

We need strong rules for shady for-profit colleges

When potential students search online with terms such as “become a police officer in Chicago” or “state trooper college,” a link to Westwood’s criminal justice program pops up near the top of the results. Many students reasonably believe that...

May 28, 2014 at 6:34 pm read more

Webinar: make your voice heard to the CFPB through complaints, comments

Join Woodstock Institute and CFPB staff for a webinar to explain how to let the CFPB know what you’re seeing on the ground. Your input will help get relief for the people you serve and help the CFPB make...

May 28, 2014 at 4:11 pm read more

Comment to the Department of Education recommending stronger debt-to-earnings standards in the gainful employment rule

140527_woodstock_gainfulemployment.pdf This letter urges the Department of Education to strengthen the debt-to-earnings test that assesses whether for-profit colleges are adequately preparing graduates for gainful employment. It recommends that the Department revise the debt-to-earnings metrics so that they accurately depict...

May 28, 2014 at 3:53 pm read more

Alarm raised by plan to ease credit norms on U.S. parent loans (Akron Beacon Journal)

The plan doesn’t sit well with consumer advocates and economists, who are sounding an alarm. The Education Department wants to look at “adverse credit” over two years instead of five and consider approving loans even if parents have delinquent...

May 27, 2014 at 3:57 pm read more

Alarm Raised by Plan to Ease Credit Norms on U.S. Parent Loans (Bloomberg News)

The plan doesn’t sit well with consumer advocates and economists, who are sounding an alarm. The Education Department wants to look at “adverse credit” over two years instead of five and consider approving loans even if parents have delinquent...

May 27, 2014 at 3:55 pm read more

Outside Opinion: Bill to replace Fannie, Freddie not good enough (Chicago Tribune)

A bill to dismantle Fannie Mae and Freddie Mac and redesign the mortgage finance system is pending in the U.S. Senate. The bill would replace Fannie and Freddie, government-sponsored enterprises that bundle mortgages together to sell as bonds, with...

May 27, 2014 at 3:49 pm read more

House Committee Advances the Illinois Secure Choice Savings Program

Springfield, IL — On a vote of 7-2, the Illinois Secure Choice Program (SB2758) passed out of the Illinois House Personnel and Pensions Committee today. The bill will give millions of private-sector workers the opportunity to save their own...

May 22, 2014 at 5:23 pm read more
dory_rand_lowres_0.jpg

From the President: Champions honored, advocates engaged, new board members welcomed

It was a good combination of celebration and serious dialogue. Thanks to everyone who attended (especially on a Friday night) and to all of our foundation and financial institution funders who generously support our work and our online data...

May 20, 2014 at 1:13 pm read more

Protect students from schools with high debt and little benefit

Often students leave these schools with high debt loads, even though their employment prospects may be no better than before. This means they may not be able to repay their student loans, save for emergencies, buy a house, or...

May 19, 2014 at 6:20 pm read more

Illinois Sen. Biss honored by Chicago nonprofit (The Daily Northwestern)

Biss won the Woodstock Institute's Community Investment Award, which recognizes the accomplishments of community members who "exemplify what it means to work locally with a national impact," said Katie Buitrago, a spokesperson for the Institute, a research and policy group that works...

May 16, 2014 at 4:20 pm read more
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