New York’s plan is a step forward in returning to the days when students could work their way through public college without taking on debt. But the impact on reducing the need to borrow may be minimal, especially for first-generation, low-wealth students.
New York approved a state budget Sunday that included the Excelsior Scholarship, which will allow students whose families earn less than $125,000 a year to attend state public colleges and universities tuition-free.
As long as there have been markets, people have been driven by greed to make irrational investment decisions. When enough people get in on the action, valuations -- the prices of securities -- go haywire, soaring to obscene heights and then crashing in a shower of crushed dreams.
Chasing performance, taking on excessive risk and selling at inopportune times are all as old as capital markets themselves. What is new is the modern regulatory environment and financial innovations such as high-frequency trading. Is today's stock market the same beast it was 20 or 30 years ago? [...]
In the last four parts of this series, I have discussed the problems of our current student loan system, the potential for an income-based repayment system, and the difficulties of a graduate tax. This leaves us with another proposal: universal free undergraduate public higher education. [...]
This week, the Federal Reserve Bank of New York offered continuing evidence of the student debt crisis. Outstanding student debt again topped $1 trillion in the fourth quarter of 2013, making it the second-largest pool of debt in the nation behind mortgages. This has tripled in just a decade, as higher-education prices increased faster than medical costs, up 500 percent since 1985.
Biola Jeje, 22, graduated Brooklyn College last May with a degree in political science and a mission: Force lawmakers to address the $1.2 trillion student debt crisis. [...]
Jeje left college with $9,500 in student loans, less than half the $29,400 national average for four-year college graduates. She and her fellow activists are mobilizing support to march on Albany, New York state’s capital, to deliver a message to legislators. [...]
I grew up just outside Detroit and have felt an ache in my heart for this bleeding city for so many years now. It's long been one of the country's designated loser cities, beginning in the 1960s, when change hit it hard. The phrase at the time was "urban blight," a social cancer with unexamined causes that, in the ensuing years, has gotten progressively worse.
As the nation’s trillion-dollar student debt continues to rise, a new analysis of public higher education’s funding finds dwindling state support is the key factor driving rising tuition costs and deepening student debt. According to Demos, a public policy organization advocating economic opportunity and inclusive democracy, over the last two decades state support for higher education funding shifted to a new paradigm.
A coalition of progressive groups on Thursday formally began a new campaign aimed at curbing rising student debt and reducing the price of college.
The group of think tanks, student organizations, consumer advocates, and unions is targeting the country’s “increasingly dysfunctional system of higher education,” said Anne Johnson, executive director of Generation Progress, the youth division of the Center for American Progress, which is an organizer of the campaign. [...]
For decades, rapid economic growth has been the norm for developed countries. An educated workforce, a large population boom, major technological advances, and abundant fossil fuels were the key components of growth, generating substantial and broadly distributed increases in standards of living in many countries. We have grown so used to such growth that we inevitably view it as a panacea for a host of economic ills, whether it's a deep recession or income inequality.
We now understand, however, that the postwar growth paradigm is not environmentally sustainable.
An elite class of wealthy donors who have gained mounting influence in campaigns now has the ability to exert even greater sway.
A Supreme Court decision Wednesday to do away with an overall limit on how much individuals can give candidates and political parties opens a new spigot for money to flow into campaigns already buffeted by huge spending from independent groups. [...]
The Supreme Court on Wednesday continued its crusade to knock down all barriers to the distorting power of money on American elections. In the court’s most significant campaign-finance ruling since Citizens United in 2010, five justices voted to eliminate sensible and long-established contribution limits to federal political campaigns.
Any doubts about the determination of an activist United States Supreme Court to rewrite election rules so that the dollar matters more than the vote were removed Wednesday, when McCutcheon v. Federal Election Commission was decided in favor of the dollar. [...]
In the past four years, under the leadership of Chief Justice John Roberts, the Supreme Court has made it far easier to buy an election and far harder to vote in one. [...]
The Supreme Court on Wednesday released its decision in McCutcheon v. Federal Election Commission, the blockbuster money-in-politics case of the current term. The court's five conservative justices all agreed that the so-called aggregate limit on the amount of money a donor can give to candidates, political action committees, and political parties is unconstitutional.
On Wednesday, April 2, the United States Supreme Court ruled that any cap on the overall amount a person can spend to influence an election is unconstitutional. Following on the heels of the court's previous decision in Citizens United, the McCutcheon ruling will allow unlimited spending to influence our nation's political process. [...]
Just days after 2016 GOP hopefuls traveled to Las Vegas to kowtow to billionaire Republican donor Sheldon Adelson, the Supreme Court has made it even easier for the ultra-rich to control elections. In McCutcheon v. FEC, the five conservative Justices ruled that aggregate limits in campaign contributions are unconstitutional. [...]