• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech
Student Loan Borrowers Don’t Deserve ‘Forgiveness.’ They Deserve an Apology.

Student Loan Borrowers Don’t Deserve ‘Forgiveness.’ They Deserve an Apology.

May 13, 2022
Senate Education Discusses Financial Literacy, Free Period Products

Senate Education Discusses Financial Literacy, Free Period Products

February 2, 2023
Post-Global War on Terror, different missions for the National Guard

Post-Global War on Terror, different missions for the National Guard

February 2, 2023
USWNT World Cup roster prediction 4.0: How SheBelieves Cup could impact selections

USWNT World Cup roster prediction 4.0: How SheBelieves Cup could impact selections

February 2, 2023
ChildCare Education Institute launches CUR137: Completing

ChildCare Education Institute launches CUR137: Completing

February 2, 2023
Gaps in Mental Health Care for Asian and Pacific Islander People and Other People of Color

Gaps in Mental Health Care for Asian and Pacific Islander People and Other People of Color

February 2, 2023
Jean-Pierre calls Texas border czar a ‘political stunt,’ claims Biden’s actions ‘made a difference’

Jean-Pierre calls Texas border czar a ‘political stunt,’ claims Biden’s actions ‘made a difference’

February 2, 2023
House Ousts Ilhan Omar From Foreign Affairs Panel

House Ousts Ilhan Omar From Foreign Affairs Panel

February 2, 2023
National Wear Red Day declared for Friday, aims to bring awareness and fight heart disease

National Wear Red Day declared for Friday, aims to bring awareness and fight heart disease

February 2, 2023
New Report Looks at Arkansas Policies To Promote Infant, Toddler Health

New Report Looks at Arkansas Policies To Promote Infant, Toddler Health

February 2, 2023
Kyle Rittenhouse: Victim’s father’s wrongful-death lawsuit can proceed

Kyle Rittenhouse: Victim’s father’s wrongful-death lawsuit can proceed

February 2, 2023
Trump Won’t Commit to Backing the G.O.P. Nominee in 2024

Trump Won’t Commit to Backing the G.O.P. Nominee in 2024

February 2, 2023
Riviera Beach classroom gets ‘STEM’ makeover thanks to FPL grant

Riviera Beach classroom gets ‘STEM’ makeover thanks to FPL grant

February 2, 2023
Saturday, February 4, 2023
News Today
  • Home
  • World
  • Politics
  • Health
  • Education
  • National
  • News
No Result
View All Result
News Today
No Result
View All Result
Home News

Student Loan Borrowers Don’t Deserve ‘Forgiveness.’ They Deserve an Apology.

by newstoday
May 13, 2022
in News
0
Student Loan Borrowers Don’t Deserve ‘Forgiveness.’ They Deserve an Apology.
492
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Still not convinced that the nation should ask debtors for absolution, and not the other way around? Consider the facts.

First, there’s the Free Application for Federal Student Aid, or FAFSA, which for decades has yoked millions of students and families each year to its cumbersome form, confusing questions and confounding — and infuriating — “expected family contribution.” New legislation brings the number of questions down to a maximum of 36 from 108, but it, too, is so complex that it’s taking years to fully carry out the changes. And that does nothing to address the chasm that exists between what the federal system (and a second one, the CSS Profile, that many private colleges use) “expects” and what feels realistic to many families.

So what about Pell Grants?

They were named for Senator Claiborne Pell in 1980, though earlier versions existed for years because it had long been clear that the lowest-income teenagers couldn’t afford many colleges. But the help those grants offer has dwindled because legislators did not set the annual amount per person to track any index of college costs.

Phillip Levine, a Wellesley College economics professor and the author of a new book called “A Problem of Fit: How the Complexity of Pricing Hurts Students — and Universities,” has calculated just how far short this can leave low-income students.

Take teenagers from households with about $37,000 in income, which is about the 25th percentile of income and assets. By his calculations, the public schools he examined will ask the students who live on campus to pay around $14,000 each year, after accounting for Pell Grants and other scholarships. Even if these students max out their federal loans — $5,500 for most of those freshmen — and take a job via the federal work-study program, there will still be thousands of dollars each year left to cover. No one is minding that gap.

As we ask these teenagers to borrow tens of thousands of dollars that we’d never lend them for anything else, the government provides a menu of loan options. With some of this debt, interest starts ticking right away, years before you can even have a legal beer.

There wouldn’t be so much of a debt problem if, as a nation, we made a priority of subsidizing public higher education. But we don’t. Among the 26 nations that the Organization for Economic Cooperation and Development surveys, only Britain has higher average tuition for public universities than the United States.



Source link

Share197Tweet123Share49
newstoday

newstoday

  • Trending
  • Comments
  • Latest
Stay away from S.F. national parks, police union says. Here’s what’s behind the warning

Stay away from S.F. national parks, police union says. Here’s what’s behind the warning

May 25, 2022
Gallaudet University Track Star Becomes School’s First National Champ – NBC4 Washington

Cornyn likens overrule of Roe v. Wade to Brown v. Board of Education in tweet

June 26, 2022
John Cornyn tweet about Brown v. Board of Education goes viral

John Cornyn tweet about Brown v. Board of Education goes viral

June 25, 2022
African diplomats protest alleged begins racism and inhumane clinical treat

Coronavirus: France deaths at city 14,400 ahead Macron lockdown

0
Police investigating fatal shooting in southeast

Police investigating fatal shooting in southeast

0
African diplomats protest alleged begins racism and inhumane clinical treat

Prince Harry drops royal surname after moving

0
Senate Education Discusses Financial Literacy, Free Period Products

Senate Education Discusses Financial Literacy, Free Period Products

February 2, 2023
Post-Global War on Terror, different missions for the National Guard

Post-Global War on Terror, different missions for the National Guard

February 2, 2023
USWNT World Cup roster prediction 4.0: How SheBelieves Cup could impact selections

USWNT World Cup roster prediction 4.0: How SheBelieves Cup could impact selections

February 2, 2023
News Today

Copyright © 2022 NewsToday.

Navigate Site

  • Home
  • About us
  • Contact us
  • DMCA
  • Privacy Policy

Follow Us

No Result
View All Result
  • Home
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel

Copyright © 2022 NewsToday.