Student loan | Dems Plan to Use Elizabeth Warren's <b>Student Loan</b> Bill Against the <b>...</b> |
- Dems Plan to Use Elizabeth Warren's <b>Student Loan</b> Bill Against the <b>...</b>
- UNCF President Tackles <b>Student Loan</b> Debt Crisis | WOLB Talk 1010
- <b>Student Loans</b> Rising | Brookings Institution
- <b>Student Loan</b> Prices | WREG.com
| Dems Plan to Use Elizabeth Warren's <b>Student Loan</b> Bill Against the <b>...</b> Posted: 09 May 2014 03:00 AM PDT Democrats plan to use a student loan bill introduced Tuesday by Sen. Elizabeth Warren (D-Mass.) as a wedge issue in the 2014 mid-term elections, forcing Republican candidates to either support it or explain why they don't. Dem strategists think Warren's legislation—which would lower interest rates on most federal student loans below 4 percent, reducing millions of Americans' bills by hundreds or thousands of dollars a year—could help turn out young people, who tend to vote for Democrats. Fifty-seven percent of Americans aged 18-24 say student loan debt is a "major" issue for them, according to a recent Harvard poll. Senate Democrats plan to hold a vote on Warren's bill, or a version of it, it early June, and to hold Republicans who vote against it accountable. The bill, which would be funded by eliminating tax breaks on millionaires, is one plank in what Democrats have dubbed their "Fair Shot Agenda," an election-year slate of proposals aimed at highlighting Republican opposition to politically popular legislation. (The Fair Shot campaign also includes raising the minimum wage and equal pay legislation, measures Senate Republicans have blocked.) Some Dems are already on the attack. Sens. Al Franken (D-Minn.) and Brian Schatz (D-Hawaii), as well as Shenna Bellows, who is running against Sen. Susan Collins in Maine, and Rick Weiland, who is hoping to replace outgoing Democratic Sen. Tim Johnson in South Dakota, are holding events this week aimed at pressuring their Republican opponents to support Warren's legislation—or embarrass themselves by publicly opposing it. Warren's student loan bill "is a perfect messaging item for the Democrats," says Ross Baker, a professor of political science at Rutgers University. He expects Democrats to continue to use the student debt issue to hammer Republicans, who generally oppose debt relief, over the next six months. "Republicans, in general, will oppose [Warren's bill]," Baker adds, which he says could raise the ire of young voters—a large portion of whom are currently expected to sit out this election—and push them to the polls. Adam Green, the co-founder of the Progressive Change Campaign Committee, a liberal PAC that supports progressive candidates and calls itself the "Elizabeth Warren wing of the Democratic Party," says that Warren's bill is already having an effect. His group has launched a national petition in support of Warren's bill, which the group is sending to all Republican Senate candidates this week. The progressive PAC is also organizing events aimed at pressing four more Senate GOP candidates on the student loan issue. The PCCC is not the only outside group hoping use student loan debt to take down GOPers. In April, Student Loan Debt Crisis, a group that advocates for student loan interest rate reform, nominated Rep. John Kline (R-Minn.) for television host Bill Maher's "Flip-A-District" contest, a campaign Maher launched to find the worst member of Congress and boot him from office. The group chose Kline because he is one of the few members of Congress who has proposed raising student loan interest rates. A few weeks after the group entered Kline in the running, he shot from 75th to first on Maher's list of terrible lawmakers. Last year, GOP senators filibustered student interest rate relief before acquiescing to a compromise bill at the 11th hour. That legislation prevented interest rates on new federal loans from doubling to 6.8 percent. But the law didn't do anything to help the 40 million Americans swimming in existing student loan debt, some of whom are paying back loans with rates of up to 10 percent. Warren's bill—co-sponsored by 23 other Senate Democrats—would reduce most of these Americans' federal student loan interest rates to the current rate on new undergraduate loans: 3.86 percent. Even if her bill is approved by Congress this year, Warren says she will keep pushing for further debt relief for students. She says she'll only stop when the government no longer profits off student debt. The feds will rake in $66 billion in revenue on the federal student loans the government doled out between 2007 and 2012. As Warren said on the Senate floor Tuesday, "Those are the kind of interest rates that would make a Fortune 500 CEO proud." Watch Warren's full floor speech on the bill here:  |
| UNCF President Tackles <b>Student Loan</b> Debt Crisis | WOLB Talk 1010 Posted: 09 May 2014 01:08 PM PDT Michael L. Lomax, President and CEO of the United Negro College Fund, stopped by "NewsOne Now" Friday. He touched on a number of topics associated with the cost of higher education and weighed in on what some call a student loan debt crisis. Dr. Lomax also offered ideas on fixing the student loan system, one he says is "broken." Be sure to listen to "NewsOne Now" with Roland Martin, weekdays at 7 a.m. EST and watch at 9 a.m. EST on TV One.
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| <b>Student Loans</b> Rising | Brookings Institution Posted: 08 May 2014 08:49 AM PDT As of 2013, outstanding student loan balances in the US exceeded $1.2 trillion, more than any other type of household debt with the exception of mortgages. Following several years of rapid growth in outstanding loan volumes, student debt burdens have attracted increased attention in recent years. This policy brief reviews trends, issues, and policy options related to student loans. Federal student loans offer several important benefits. They help students attend institutions of higher education and help families cover or defer the costs of attendance. However, like other loans, student loans need to be repaid, which can strain borrowers' income and affect other economic choices. From the outset, we note that isolating the impacts of student loan debt is a difficult exercise. Student loan debt represents debt undertaken to finance an investment in human capital. Simply comparing the financial and economic circumstances of households with and without student debt can be misleading if it does not also account for the additional earnings capacity produced by the education that was financed by that debt. Put differently, the key question is how the combination of the debt-financed education and student loan debt affect outcomes. To date, few studies have been able to measure both aspects of student loan debt, and thus have instead focused on either the effects of education or the impacts of student loan debt. In this survey, we focus on student loan debt, but the fact that the debt is financing additional education should provide important context for interpreting the results. |
| <b>Student Loan</b> Prices | WREG.com Posted: 07 May 2014 02:29 PM PDT Posted on: 4:29 pm, May 7, 2014, by Ashley James, updated on: 08:30pm, May 7, 2014 College freshmen taking out government student loans will pay a bigger price this fall. Interest rates could be nearly a percentage point higher than in previous years. Under this rate, seniors with one year of school left could pay an additional $260 in interest over a 10-year period. But analysts say freshmen with at least four years of college ahead of them could pay more than $1,000 in interest over the life of their loans. |
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