More than a third of young adults have delayed going to college because of difficult economic conditions in the United States, says a report released on Wednesday by the progressive nonprofit organization Demos and the advocacy group Young Invincibles. Exactly half of 18-to-24-year-olds reported less than $5,000 in total debt; 8 percent owed more than $25,000, according to the report, “The State of Young America,” which also collects data on college-completion rates, tuition and student loans, and employment and health insurance.
The report’s first chapter, Jobs and the Economy, explores how long-term trends and the current tumultuous economic environment has taken a toll on young Americans’ employment prospects, paychecks, and ultimately their earnings for years to come. Unemployment and underemployment rates for young Americans remain dangerously high, and almost 60 percent of employed young people say they would like to work more hours. At the same time, there is also a clear wage pay gap, gender pay gap, and education pay gap.
A new report from Demos looking at The Economic State of Young America shows that “average [higher education] tuition is three times higher today than in 1980.” “Average tuition at public 4-year colleges was $7,600 in the 2010 academic year, up from $2,100 in 1980,” the report notes, while “average tuition at private 4-year colleges nearly tripled in a generation, increasing from $9,500 in the 1980 academic year to $27,300 in 2010.” At the same time, the federal Pell Grant is covering an ever smaller percentage of th
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.
To increase postsecondary success among low- to moderate-income students, we must reform financial aid and provide additional financial supports to help students cover the cost of living expenses.
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.
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.