"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."
3 out of 4 senior households lack the economic security needed to sustain them through their lives, according to new study
New York, NY — Older Americans have experienced huge, negative financial shifts that now make it more difficult to enter retirement with sustainable economic security, a new study finds. Seventy-eight percent of all senior households are financially vulnerable when it comes to their ability to meet essential expenses and cover projected costs over their lifetimes.
Proposal to Expand Funding for Low-Income Students; Increased Access to Federal Loan Program
New York, NY — Demos, a national, non-partisan, public policy and advocacy organization, in partnership with twelve national organizations representing students, colleges, consumers, and college administrators, sent a letter to Congress on Wednesday calling for increased investment in college affordability and reducing financial barriers for entry into post-secondary education.
“This is a microcosm of many intra-progressive, intra-left policy debates—whether it’s better to do something universal and achieve something with relative ease or ensure that only those struggling by some definition get relief."
Credit reports and scores control access to public goods people need. Yet, in the midst of a global pandemic and economic collapse, remaking the nation’s credit reporting system is not the top concern.
An executive action for student debt cancellation would provide much needed economic relief to millions of Black and Latinx families in order to avoid financial catastrophe during the continuing global pandemic.
“The student debt crisis is yet another example of the deep and structural racial injustice at that heart of our economy. It prevents Black and Brown families from building wealth and economic power and has undermined the fundamental goal of higher education as a public good."
The response to the COVID-19 crisis must include investments in public goods and health infrastructure, breaking up concentrated economic power, and equitable access for Black and brown communities.
“The actual dollar amount, it’s hard to put that at a figure that’s enough to help everyone who is struggling. And because of that, I’d err on the side of doing more.”
Report Shows How Crisis Will Continue to Impact Small Business, Student Borrowers, Homeowners
New York — The household economy — especially small business, homeowners and student borrowers — will continue to suffer during a sever tightening of lending credit and capital, in spite of the federal rescue plan, according to a new report by the non-partisan public policy center Demos.
The hardships faced by Amazon’s warehouse employees are well known and now Black workers in Alabama are organizing, challenging power, and leading the efforts to become unionized.
"Black student debtors "are 16 percent more likely to be in default or seriously delinquent than white student debtors; Latino borrowers are 8 percent more likely."
Sergio Ramirez's case, TransUnion v. Ramirez, reveals how credit reporting companies like TransUnion have little incentive to invest in making credit reports more accurate and avoiding serious mix-ups.