Industry News and Trends Listed below is a weekly compilation of Industry updates. The major highlights include:

Public College Tuitions Spike 15%, Even 30% (CNNMoney.com)
"Tuition at many public colleges and universities is skyrocketing, thanks to state budget deficits that have choked off funding for higher education," CNNMoney.com reports. "Next year's tuition numbers aren't final, since many states are still hashing out their budgets. But one thing is certain: Rates are going up, and the schools that will be hit the hardest are in the states that have seen the worst of the economic downturn. For example, the Universities of Nevada, Florida, and Washington, each estimate that their tuitions will jump 10% to 15% next year. University of Washington's Associate Vice Provost, Gary Quarfoth said the school expects to raise rates by 14% to help make up for a $21 million cut in funding from Washington state."
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CUNA, Fynanz May Partner  (Credit Union Times)
In a deal to make student lending more readily available to credit unions, private student loan platform provider, Fynanz, and CUNA are negotiating a partnership deal to promote the Fynanz student lending program. As of press time, no official deal had been signed, but CUNA said it was close to completing due diligence for Fynanz to become a CUNA Strategic Services partner. "We're continuing to make positive progress with our due diligence and are moving along the timeline. The partnership is not completed yet, but at this point in the process, we have not discovered any issues that would keep us from moving forward," said Wes Millar, vice president of CUNA strategic alliances.
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Delaware Senators Back Student Loan Providers (Delaware Online)
"Sens. Tom Carper and Ted Kaufman want to change student-loan reform legislation to help protect about 1,000 jobs at Access Group and Sallie Mae, two student-loan providers in Delaware," Delaware Online reports. "Carper and Kaufman, both Delaware Democrats, wrote to leaders of the Senate Committee on Health, Education, Labor and Pensions on Friday, saying they're concerned about the potential impact on Sallie Mae, which employs nearly 700 workers in Delaware ... They also made a pitch for Access Group, a nonprofit student-loan provider that employs 400 people in Delaware ... Carper and Kaufman said the legislation doesn't take into account the relationships that membership organizations such as Access have with their member schools. Access members are law schools accredited by the American Bar Association. Carper and Kaufman asked committee leaders to include additional provisions that would allow nonprofit membership organizations to service student loans from their member schools across the country."
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Move Our Money From Banks to Students (Huffington Post)
President Obama has a plan to move our money from banks to students.
Every year, taxpayers subsidize student loans to the tune of $9 billion. Banks service these loans, collect the debt, keep the interest, and turn a profit. When borrowers default on their loans, taxpayers foot the bill, and banks still reap the interest.
It's a great deal for banks and a terrible one for taxpayers. The president's student aid reform plan will save tens of billions over the next decade. We'll use these savings to make college more affordable for the next generation of engineers, teachers, and scientists who will become the backbone of the new economy.
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