Tag: Student Loans

Majority in US Back Free College Tuition and Student Debt Cancellation, New Poll Finds

Yves here. As we’ve said for many years, positions widely depicted by the press as left-wing, such as strengthening Social Security and Medicare, cutting military spending, making taxes more progressive, have consistently polled with solid majorities or at worst, pluralities. And the poll that found broad support for cancelling student debt and free college tuition […]

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DeVos Toughens Rules for Student Borrowers Bilked by Colleges

Education Secretary Betsy DeVos on Friday significantly tightened Obama-era rules for student borrowers who say their schools defrauded them, imposing a deadline on claims and eliminating a requirement that the department automatically wipe away the loans of some students whose schools closed while they were enrolled. The new rules apply to federal student loans made […]

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Trump Orders Student Loan Forgiveness for Disabled Veterans

President Trump signed a measure on Wednesday that seeks to remove the bureaucratic barriers for permanently disabled veterans to qualify for student loan forgiveness, which he said would save 25,000 wounded warriors an average of $30,000. The rollout of the executive action came during the American Veterans national convention in Louisville, Ky., where Mr. Trump […]

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Life, Deferred: Student Debt Postpones Key Milestones for Millions of Americans

By Natalia Abrams, the Executive Director of Student Debt Crisis, and Cody Hounanian, the Program Director of Student Debt Crisis. Originally published at openDemocracy Student debt has been solely responsible for the majority of my decision-making as an adult(Erin – Portland, Maine) The student debt crisis is not the burden of a single generation. It […]

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After a Billionaire’s Pledge, Morehouse Looks to Donors to Reduce Student Debt

The surprise announcement elicited disbelief, then jubilation from the crowd of 396 graduates at Morehouse College’s commencement in May, and from onlookers like Xavier Antoine, a junior who was photographing the celebration. “This is my class, 2019, and my family is making a grant to eliminate their student loans,” Robert F. Smith, the richest black […]

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Credentialism and Corruption: A Second Look at the College Admissions Scandals

By Lambert Strether of Corrente We’ve had yet another college admissions scandal enter the headlines, briefly, and so I thought I’d aggregate the other recent college admissions scandals; it’s surprising — or not! — how prevalent they are. Then I’ll do a simple piece of arithmetic that I haven’t been able to find in the […]

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Families Drowning in Debt to Stay in the Middle Class

The Wall Street Journal has an important story on how people with what seems like pretty good household incomes are getting more and more indebted in keeping a middle class lifestyle. The Journal gives a sympathetic portrayal, using some recent work by Georgetown law professor Adam Levitin to show how much significant costs have risen […]

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Is Impeachment Finally Happening?

Listen and subscribe to our podcast from your mobile device: Apple Podcasts | Spotify | Google Play | RadioPublic | Stitcher Did Robert Mueller’s testimony before Congress bring Democrats any closer to impeaching President Trump? This week on “The Argument,” the columnists debate the fallout from the former special counsel’s testimony. House Democrats’ coy approach […]

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It’s Easy to Forget, but a Program to Forgive Student Loans Already Exists

ImageThe rejection rate for the Public Service Loan Forgiveness program is 99.3 percent, but that’s likely to decrease significantly over time. A graduate at Pasadena City College wore a money lei in June.CreditRobyn Beck/Agence France-Presse — Getty Images When Bernie Sanders recently announced a $1.6 trillion plan to forgive all student loans, he had a […]

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Doctors in Debt: These Physicians Gladly Struck a Deal With California

Dr. Michael Gabriel Galvez, a pediatric hand surgeon who treats mostly low-income patients at a hospital in California’s Central Valley, jokes with families that he went to “30th grade.” But that did not come cheap. The debt he has accrued from 18 years of higher education and medical training, including Stanford Medical School, fellowships and […]

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It Is Time To Start Forgiving Student Loans – And Here Is What It Will Cost

Yves here. Reader Bob Hertz sent his proposal for a multi-pronged student debt forgiveness program. One of his motivations was his belief that forgiving all loans isn’t affordable. The Federal government in fact does not need to raise taxes to fund this expenditure, but you’d need to give a harder look to see how much […]

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People Trapped by Student Debt Need Money, Not a Long Policy Argument

Left: Stock photo via Getty. Right: Photo of Bernie Sanders by Sean Rayford/Getty Nick Hawthorne has had a rough couple of years. The 37-year-old film professor at Montana Tech found out at Christmas that not only is he not getting tenure, his entire department is being eliminated. Fresh out of a teaching job and more than $66,000 […]

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‘I Don’t Believe the Administration on Anything’: Ilhan Omar on Debt, the Debates, and the Awful Border Bill

Photo: AP Rep. Ilhan Omar of Minnesota has only been in Congress for fewer than six months, but already, she’s made one of the biggest splashes in a high-profile freshman class. Months removed from the backlash over her criticism of the pro-Israel lobby, which led to (false) accusations by Republicans and some Democrats that her […]

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Canceling Student Loan Debt Doesn’t Make Problems Disappear

ImageUpward mobility? A Bernie Sanders cutout joined the ride up the escalator at the South Carolina Democratic convention in Columbia, S.C., on Saturday.CreditTravis Dove for The New York Times Senator Bernie Sanders on Monday proposed canceling all $1.6 trillion of outstanding student loan debt in the United States, one-upping a rival for the Democratic presidential […]

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Bernie’s Student Debt Plan Is Way Too Nice to the Rich

Bernie Sanders announced a bill on Monday that, if passed into law, could erase all student debt in the country. The presidential candidate’s latest, $2.2 trillion version of the “College for All Act” is the most far-reaching plan yet to address the 45 million Americans suffering under a $1.6 trillion debt load. The bill, which […]

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Lawyers by Day, Uber Drivers and Bartenders by Night

Her story is a familiar one in the gig economy era: She works several odd jobs like delivering food for Grubhub and UberEats, or helping people with their tax returns. But Danielle happens to have a full-time job: She is a staff attorney for the Legal Aid Society in New York. The same goes for […]

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Biggest Offender in Outsize Debt: Graduate Schools

The signs are hard to miss in downtown San Francisco: two stylized A’s inside a red circle, symbolizing the Academy of Art University. The for-profit school occupies more than 40 buildings throughout the city and has made its family owners very rich. Where does the Academy of Art’s money come from? About $100 million per […]

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Fact-Checking Elizabeth Warren on the Campaign Trail

Senator Elizabeth Warren has climbed in recent polls as she churns out a stream of ambitious policy proposals and renews calls for President Trump’s impeachment. In public remarks, Ms. Warren weaves personal anecdotes with explanations of her many plans, interspersing statistics and critiques of wealth inequality and corruption in Washington. Her focus on her own […]

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A Financial Checklist for Your Newly Minted High School Graduate

The summer after high school graduation inevitably includes monthslong encounters with various to-do lists. Extra-long-sheet purchases and milk crates for future collegians. A résumé for job seekers. Thank-you notes for all. But let me suggest one more itemized offering: a list of financial tasks. If you want to set your child up properly for college, […]

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