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Originally published: 2013-04-18 19:47:42
Last modified: 2013-04-22 09:28:06

CCC&TI: No more federal student loans

by Staff Reports

Caldwell Community College and Technical Institute will no longer accept federal student loans, beginning this year, following a board of trustees' vote Wednesday.

That decision removes a financial option for many students. Private loans will still be accepted by the institution.

The college said it based the decision partly on rising federal student loan default rates -- that rate was 20.3 percent in 2011.

A high default rate places the college eligibility for Pell Grants in jeopardy, CCC&TI said. Pell Grants are need-based federal grants that don't need to be repaid and are more widely used at the college, CCC&TI reports, than federal student loans.