Washington, DC–(ENEWSPF)–May 15, 2015. The U.S. Department of Education announced proposed regulations, available for public inspection today in the Federal Register, aimed at protecting as many as 9 million college students receiving $25 billion in federal student aid by providing tougher standards and greater transparency surrounding agreements between colleges and companies in the rapidly expanding college debit and prepaid marketplace. The proposed regulations are intended to safeguard students from excess fees and provide students the freedom to choose how to access their federal student aid funds when paying for college. The action by the Department would bring much needed reforms to a sector that has operated without sufficient transparency, putting taxpayer dollars at risk of financial loss.
