KARK reports that some 700 students at Pulaski Tech haven’t received expected federal student loan money. The college said it was working with a software provider and the Department of Education to attempt to find an explanation, but said some changes in lending procedures addressed at high default rates might be part of the problem.
The issue calls to mind similar delays in the past at Arkansas Baptist College, which at last report still hadn’t worked its way through accumulating bills that have been ascribed to slow pay of federal money. For weeks now, the college has been promising a global solution to financing issues, but no announcement has been forthcoming. The college has three debt suits, including one by the Department of Workforce Services, pending in circuit court.