Chancellor Nancy Cantor visits White House, commits to financial aid transparency
As Congress struggles to make a decision on how to keep interest rates low for federally subsidized Stafford loans, Syracuse University Chancellor Nancy Cantor met with White House officials Tuesday to commit to greater transparency in financial aid and the cost of college.
SU is one of 10 higher education institutions that committed to financial aid transparency for next year’s incoming freshman class. Presidents and leaders from each school met with officials such as Vice President Joe Biden and Secretary of Education Arne Duncan, according to a June 5 White House news release.
Other colleges and universities that made the commitment included Arizona State University, the University of North Carolina at Chapel Hill and the State University of New York system, according to the release.
Cantor arrived at the White House at approximately 11:45 a.m. and left at 2 p.m., said Kevin Quinn, senior vice president for public affairs, in an email.
It was not specified why these specific institutions, including SU, were chosen, but White House officials recognized Cantor’s work on the issue of college affordability, Quinn said.
In the past several years, SU has taken measures to improve students’ understanding of finance by creating the financial literacy program ‘I Otto Know This!’ and partnering with community colleges across the nation.
Undergraduate aid at SU has increased by 52 percent since the 2007-08 academic year. Tuition will rise 3.6 percent, the lowest increase in 46 years, during the 2013-12 academic year.
SU also plays a crucial role in Syracuse Say Yes to Education, which promises free college tuition to more than 100 other institutions, including SU, for the 21,000 students in the Syracuse City School District.
At 3:30 p.m. Tuesday, Cantor also met with Sen. Charles Schumer of New York to discuss the issue of Stafford loans more in depth, Quinn said.
If Congress does not come to a decision on how to keep the loan interest rates low by July 1, they will double from 3.4 percent to 6.8 percent.
Published on June 5, 2012 at 12:00 pm
Contact Dylan: dmsegelb@syr.edu | @dylan_segelbaum
