Billionaire Betsy DeVos Wants To Scrap Student Debt Forgiveness. Surprised?

The plan by the secretary of education represents the Trump administration’s multi-part assault on public education and the non-rich

When Donald Trump appointed Betsy DeVos secretary of education, America’s school-going people worried it was only a matter of time before she brought back debtors’ prison for student loan defaulters and subcontracted out K-12 education to Nickelodeon.

Now Donald and Betsy are one step closer to making that vision a reality, with $10.6bn in cuts to crucial education programs, including a student loan forgiveness program first implemented by a Republican administration.

According to budget documents obtained by the Washington Post, the Trump administration plans to end the Public Service Loan Forgiveness (PSLF) program, which more than 400,000 people are counting on as part of their financial future.

The Student Debt Crisis Is Exploding

Nothing Less Than a Student Debt Jubilee Will Do

The level of student loan debt in the United States has risen to $1.5 trillion, and defaults are at more than 40% of debtors and rising. Student loan debt has grown to overwhelm all other categories of non-housing consumer debt in this nation.

Underneath this crisis are rising tuition costs, a predatory student loan industry and an absence of consumer protections for students. Student debt is the only debt that can’t be removed through bankruptcy.

Governor Cuomo recently signed a new law that is supposed to help with the cost of higher education, and Senator Sanders introduced similar legislation at the federal level, but these are not real solutions to the crisis.

Alan Collinge, the founder of Student Loan Justice, says that these efforts will not relieve current students of debt, nor will they protect future students from acquiring debt. He anticipates that this crisis will explode within the next 12 to 18 months. Nothing short of a student debt jubilee will work. We discussed this issue in depth on Clearing The FOG…. continue reading

“It’s Absurd” – 6 Baltimore Schools Have Zero Students Proficient In State Math, English Tests

Baltimore schools spend a staggering $16,00 per student – the fourth-highest rate in the nation – and still an investigation by Fox45’s Project Baltimore revealed that at six city schools, not one student scored proficient on either the statewide tests for English and math.

At West Baltimore’s Frederick Douglass High, one of five high schools and one middle school where not one student scored a four or a five on the state test, only one out of 185 students who took the test last year scored a three, while 165 students scored a one, the lowest possible score.

The schools are:
• Booker T. Washington Middle School
• Frederick Douglass High School
• Achievement Academy at Harbor City
• New Era Academy
• Excel Academy at Francis M. Wood High
• New Hope Academy

 

How To Start Fixing America’s Higher Education Crisis

The most striking thing about fixing American higher education is that the direct costs look surprisingly small. The major obstacles are political, not financial.

How much would it cost to fix American higher education? Think big. In 2015, colleges and universities spent about $532 billion to teach 20.5 million students enrolled in two-year and four-year colleges.

That $532 billion figure is the lowest estimate in circulation. The National Center for Education Statistics gives the figure as $605 billion for 2013-14. But let’s stick with the humble $532 billion.

So how much would it cost to fix our $532 billion worth of colleges and universities? The answer depends, of course, on what you think is wrong with them and which of the possible repairs you favor. But let’s not get overly complicated…. continue reading

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