President Obama this week touted new ways to help students pay for college, but he also proposed stripping away a popular benefit: a significant tax advantage of college savings plans used by millions of American families.
Much of the current ballyhoo in higher-education circles has centered on President Obama's announcement earlier this year to make community college free for all Americans "willing to work for it." The move, however, is a part of a larger suite of reforms that the White House hopes will make college more affordable and accessible.
This week a group of former students calling themselves the Corinthian 15 announced that they were committing a new kind of civil disobedience: a debt strike. They are refusing to make any more payments on their federal student loans.
Latonya Suggs is one of 15 former students of Corinthian-owned schools called "the Corinthian 15" who are engaging in what they say is the nation's first student debt strike. They're refusing to pay back both their private and their federal student loans.
Strike Debt is helping provide legal support for the students for the consequences of the strike, which will be harsh if the group isn't relieved of its debts.
We’ve created our own bracket here, matching up colleges not by the number of McDonald’s High School All-Americans on their roster, but by whether or not they provide access to an affordable education and whether they are engines of upward mobility for working-class students.
With so many eventual graduates starting at community colleges, we should take a hard look at institutional aid policies, which reward incoming freshmen much more than transfer students.
New York became the first state in the country to return to a guarantee of tuition-free college for students at state public colleges and universities.
It's time to recognize that in a world where most students must borrow for a credential, borrowers should receive the same failsafe protections on these loans as they do on any other consumer loan.
The top three economic issues for young people are debt-free public college, paid family and medical leave and a higher minimum wage (followed closely by affordable childcare).
To summarize, the House Republican tax plan would get rid of several incentives—from the ability to deduct student loan interest as well as tuition, to the Lifetime Learning tax credit—which provide middle-class students and borrowers with some relief at tax time.
While some fairly valuable tax breaks for students have been kept from the chopping block, the Senate GOP’s tax bill could go a long way toward decimating funding for public colleges and universities, and community colleges in particular.
Rather than excluding students, progressive states like New Jersey have an opportunity to lead and expand the universe of the possible on issues like free college.
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.
