student debt crisis
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Every Argument Against Student Debt Forgiveness, Explained (and Dismissed)
What happens to a student loan deferred?Does it dry uplike Donald Trump’s skin?Or draw interest—Do payments ever end? Does it grow into a mountain of debt?Until an unknown numbercalls you up to collect? Maybe it just sagslike a heavy load.Until someone forgives it… And white people explode. For most Americans not named Ivanka and those…
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Sen. Elizabeth Warren Proposes Student Debt Relief Be Included in Coronavirus Measures
Crazy how much shit can change up on you in literally the span of a week. Things that sounded out of the realm of possibility now seem like very real solutions. Take, for example, canceling student loan debt. Senator and former presidential candidate Elizabeth Warren, writing for MTV News, calls for the next coronavirus bill…
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Senate Tells Betsy DeVos 'Nah,' Over Rule That Makes Debt Relief Harder
It’s very rare that we see the Republican-controlled Senate vote against the Trump administration. The only thing more surprising than Betsy DeVos still having a job is Republicans voting to repeal a rule she created. According to the New York Times, a rare instance of bipartisanship occurred when the Senate voted to revoke a rule…
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Sallie Mae Flew More Than 100 Employees to Hawaii to Celebrate $5 Billion in Sales
As you struggle to make that outlandish student loan payment this month, here is something for you to chew on: In August, Sallie Mae flew more than 100 employees on its sales team to Maui to celebrate them making more than $5 billion in sales. NBC News reports that 1 in 5 adults in the…
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Robert F. Smith Gets the Final Bill for His Gift to Morehouse—and the Number Is Stunning
When philanthropist and entrepreneur Robert F. Smith offered to pay the entire balance of the outstanding student loans for Morehouse’s most recent graduating class, not only did the gift eliminate a burden from the backs of hundreds of students but it also sparked a much-needed conversation about student debt and its disproportionate impact on black…
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Is Racism the Reason Why HBCUs Have to Pay More for Loans Than Other Schools?
If you want to see how systemic—and endemic—racism in the U.S., follow the money. You’d see the racial wealth gap—a phenomenon that has only gotten worse, even as unemployment rates for black Americans dip. You’ll see predatory loans, which disproportionately affect people of color (and which helped fuel the housing crisis). You’ll also see that…
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Employers May Soon Help With Student Loan Debt—but Will Black Grads Be Left Behind?
Many of us are all too familiar with the student loans, but thanks to a new program unveiled by Fidelity Investments, repayment aid from your employer may soon be an option. The problem? It probably won’t do much to address the deep racial disparities of the student debt crisis. According to BuzzFeed News, Fidelity announced…