It’s crucial that the U.S. Congress and the Department of Education act swiftly and aggressively and provide states and institutions with much-needed support before it’s too late.
"Like in previous moments of crisis, whether it's the Great Depression or the 2008 financial crisis, we will need new governmental bodies to address the public needs at this scale."
COVID-19 is a threat to everyone, but the economic damage resulting from medically necessary quarantines and shelter-in-place orders is neither random nor equally distributed.
There have been devastating reports of disproportionate rates of death in Black communities as a result of COVID-19. Racial capitalism and structural racism are to blame.
The Postal Service faces a $13 billion revenue loss this fiscal year alone; If the Postal Service is allowed to fail, it will be a tremendous blow to all Americans.
The ongoing devaluing of Black life that’s now on full display forces us to confront America’s racist origins and to uproot our systems of racial violence, economic subordination, and hoarding of political power.
It is time for colleges, states, and the federal government to prove their commitment to Black students with policy action—not just well-meaning statements and gestures.
Rather than cutting funds for public needs while allowing police budgets to swell, cities, states, and the federal government must shift funding to the real priorities of communities.
Private credit reporting companies should be replaced by a publicly run credit registry that operates in the public interest and that automatically corrects for events like natural disasters and global health crises.
12 years after entering college, white men have paid off 44% of their student-loan balance on average, according to an analysis released last year by Demos, a left-leaning think tank.
"To say that people post-crisis, as they try to rebuild their lives, have to carry the impact of this is just another round of disadvantage and discrimination.”
The COVID-19 crisis has cast into stark relief what has always been true: the wealth and prosperity of the U.S. economy rests on the labor, and the lives, of black and brown communities.
Twelve years after starting college, white men have paid off 44% of their student loan balances on average, while black men saw their balances grow by 11%, according to an analysis from Demos.
Twelve years after starting college, the white female borrower has paid off 72% of her loan balance. Over the same time period, the typical Black female borrower's balance has grown by 13%.
At the Democratic National Convention, former First Lady Michelle Obama made a point that is relevant to both parties: If policymakers do not take bold and transformative action, trends can and will get worse.
"Imagine any financial transaction you make and someone says the price of this thing is $100,000, but you are very likely to pay nothing, but first you have to fill out all these forms."