Today the average college grad leaves school with just over $24,000 in debt, an amount that eats up $276 every month if you stretch the payments out over ten years and it’s a government loan with a 6.8 percent interest rate. Of course, one out of five students also carries more costly private loans, where interest rates are in the double digits and fees add to the balance. This debt-for-diploma system is what counts as opportunity in America today.
One grievance of the protesters targeting Wall Street is that financial elites wield way too much power in our democracy. That complaint is hardly new, but the latest figures on money in politics tells a truly troubling story about the vast resources that Wall Street has put into shaping both the legislative process and elections.
The United States Court of Appeals for the First Circuit issued a pair of decisions affirming campaign finance disclosure provisions in Maine and Rhode Island. I let out a sigh of relief when I read them.
David Callahan, a senior fellow at the think tank Demos, contends the tax code should differentiate between charities and overtly partisan advocacy organizations. Now neither type of group must reveal the names of its supporters.
America's students are facing a serious threat from subprime private loans, and the situation could worsen unless Congress votes to close a potential loophole in the proposed Consumer Financial Protection Agency.
The Contract for College would unify the existing three strands of federal financial aid — grants, loans and work-study — into a coherent, guaranteed financial aid package for students.
Testimony of Demos' Democracy Program Legal Director on restoring contribution limits in Vermont, delivered before the Vermont House Government Operations Committee on February 5, 2008.
This memo outlines how the Justices lined up on the issues in Randall v. Sorrell, provides some analysis of the opinions, and touches on the implications for future reform efforts.