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Posts Tagged ‘student debt’

Politics: Hasan Minhaj On The Student Loan Debt Crisis (Video)

Yooo! There’s a game show to pay off student loans?? I need, like REALLY need to go out for that… and WIN! Mr. President, student loan debt is REAL national emergency (eff that wall thing). Hasan speaks on it.

With Americans’ student debt now over $1.5 trillion, Hasan looks at how the federal government turned the Department of Education into the largest bank in America in terms of loans, and examines the department’s relationship with loan servicers. These private financial companies have benefitted from Secretary of Education Betsy DeVos’ hands-off regulation that has made it easy for students to become trapped in debt.
– Patriot Act

@ojones1

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Hard To Earn, Too Costly To Learn: How For-Profit Colleges Saddle African-American Students With Staggering Debt

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President Obama echoes the sentiment of Black people throughout the ages in America: The key to “winning the future” is to get educated. Get educated, get paid, live the American Dream. That’s the path to prosperity right… right?

Well, Kai Wright of Salon.com writes that something isn’t right:

‘…black college enrollment shot up by nearly 35 percent between 2003 and 2009, nearly twice the rate at which white enrollment increased…But this headlong rush of black Americans to get schooled has also led too many down a depressingly familiar path. As with the mortgage market of the pre-crash era, those who are just entering in the higher ed game have found themselves ripe for the con man’s picking. They’ve landed, disproportionately, at for-profit schools, rather than at far less expensive public community colleges, or at public universities. And that means they’ve found themselves loaded with unimaginable debt, with little to show for it…’

– Salon.com

Have we been had, hoodwinked, and bamboozled again? Kai makes a powerful argument. And were he here to speak on it today, Malcolm X might well quip: Plymouth rock landed on us. We climbed from under it. Then they dropped a mountain of debt on top of us!

Several of the top for-profit colleges are run by financiers, not educators. Damn. Now, more than ever, it costs to be poor; and it pays to exploit those striving for more.

READ THE FULL KAI WRIGHT WRITE-UP AT SALON.COM.

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