“Not only are students of color more likely to borrow more for a degree, and borrow in higher amounts for the same degree, but they’re more likely to struggle to repay student loans than white students."
“The gauntlet has been laid. It also reminds us that public policy really does have a role to play. We should take a hard look at why this was needed in the first place.”
Women of color are generally underrepresented as campaign donors even though they vote at high rates, according to research by progressive think tank Demos.
Demos’s report details how historical and structural racism contributes to higher interest rates and insurance costs for Black and Latinx people, compared to white Americans.
"The percent of low-income students borrowing for a bachelor’s degree is unconscionably high, particularly if you consider their debt loads as a percent of their family income and wealth. Even if low-income students and high-income students were borrowing the exact same amount for college, that debt is a far greater burden relative to their family wealth.”
So the next time Democrats complain about lower voter turnout, not just in 53206, but in any beleaguered neighborhood, they might think first about the policies, both old and new, that have served and continue to serve as stumbling blocks for black political participation.
"In today’s competitive economy, nothing is more important than getting a college education. Yet college tuition costs in the U.S. have been increasing at a breakneck pace, making college unaffordable for millions of Americans.”
"Income is actually a somewhat imperfect way to judge whether or not a family is financially secure. The typical black family making $100,000 has a lot less wealth than the typical white family making $100,000."
Boosting the returns on homeownership for black families would reduce the wealth gap with white families by more than $17,000, or 16%, according to a 2015 report from the public-policy organization Demos and the Institute for Assets and Social Policy at Brandeis University.
“These are folks who are serving [and] preparing food for all of the rest of us. It's a recipe for contagion when...the people preparing your food cannot afford to stay home when they have a contagious disease.”
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."
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.
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.