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High student debt threatens America’s future

DAYTONA TIMES — The student debt crisis in our country is worsening. If nothing is done, its size threatens our nation’s future. Young people saddled with student debt often postpone adult decisions, like purchasing homes or getting married, hoping to start “real life” with a clean slate. When these folks delay buying homes, they also postpone the purchase of everything that goes with home ownership – furniture, appliances, and more.

Published

5 years ago

October 10, 2019

Oakland Post

By Julianne Malveaux

The student debt crisis in our country is worsening. If nothing is done, its size threatens our nation’s future.

Young people saddled with student debt often postpone adult decisions, like purchasing homes or getting married, hoping to start “real life” with a clean slate. When these folks delay buying homes, they also postpone the purchase of everything that goes with home ownership – furniture, appliances, and more.

Millions boomerang home, living with their parents into their late twenties, or even longer. Some default on their loans, ruining their credit, and impeding other purchasing.

How bad is it?

Student debt in our country totals almost $1.6 trillion in 2018, $521 billion more than credit card debt. More than two-thirds of all students take out student loans, with an average debt of $29,800.

A total of nearly 45 million Americans have student loan debt. And if it is bad for the overall population, it’s worse for African American students, who recently graduated with $37,000 in debt, more than $7,000 more than the overall average.

According to Ashley Harrington, of the Center for Responsible Lending, 85 percent of all African American graduates carried student loan debt in 2016, compared to the 2016 overall average of 68 percent. A decade after college graduation, African Americans who had student loan debt owe twice as much as their White counterparts.

No surprise

African American median incomes are lower than White incomes. African American wealth is less a small fraction of White wealth. African American unemployment rates are higher than White rates, even for college graduates. On average, African Americans are stuck at the economic periphery, with every indicator showing Black folks lagging others in our economy.

And while the student loan crisis hits the Black community hard, it so profoundly affects our national economy that Democratic presidential candidates Bernie Sanders and Elizabeth Warren are getting major traction from their plans to reduce or eliminate student loan debt. Indeed, Sanders gets more support among those in the 18-34 age group than any of his competitors, partly because he has been extraordinarily vocal in addressing student loan debt.

Dysfunctional program

The presidential candidates have not been the only ones who have expressed concern. Congress implemented the Public Service Loan Forgiveness Program as part of the College Cost Reduction and Access Act of 2007.

After paying a percentage of their income for 120 consecutive months, public servants like teachers and firefighters, and people who work for nonprofit organizations, could qualify to have the remainder of their loan forgiven.

From the legislation, the first to receive loan forgiveness would get it in 2017. By March of 2019, however, fewer than one thousand people (of 55,000 that applied) were granted loan forgiveness. This is mostly attributable to sloppy administration of the program by the current Department of Education. Indeed, the current administration has proposed eliminating the forgiveness program.

Congressman Robert “Bobby” Scott, the Virginia Democrat who chairs the House Education and Labor Committee, held hearings on this matter. Witnesses cited conflicting information that they received and payments that were not credited so that the loan relief that they expected has not been forthcoming.

Race and class

The heavy student loan debt that Black students carry broadens an already wide wealth gap. Besides race, it also broadens the class inequities that exist in our society. Access to affordable higher education is one of the ways to narrow gaps, but the keyword is affordability.

Both the federal and state governments have decreased their investments in higher education. The maximum Pell grant amount, at $6,195, does not cover the cost of tuition at a four-year college, not to mention the cost of attendance (tuition, room, and board).

While high student loan debt may be debilitating for the individuals who incur it, it is essential also to note that this debt has an impact on our nation’s economic futures. If we think that education is critical, then we must take steps to make it more affordable.

Elizabeth Warren and Bernie Sanders get rousing cheers when they talk about forgiving student loan debt. It’s time to turn talk into action.

Julianne Malveaux is a Washington, D.C.-based economist and writer. Her latest book, “Are We Better Off? Race, Obama and Public Policy,” is available at www.juliannemalveaux.com.

This article originally appeared in the Daytona Times.

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OP-ED: The Illusion of Allyship. White Women, Your Yard Signs Mean Nothing to Me

NNPA NEWSWIRE – “The blue bracelets are something White women are wearing so others can see that they didn’t vote for Trump,” says Liberal Lisa from Oklahoma on X. Chile, bye. These bracelets are hollow symbols, empty gestures that mean nothing to me. An accessory to claim distance from Trump’s legacy is superficial comfort, while the choice to not stand with us in the voting booth is far more profound.

Published

2 weeks ago

November 9, 2024

Oakland Post

Political yard signs can symbolize intentions and allegiance. But this year, they’ve also symbolized betrayal. During this general election, Black women were led to believe that more White women would stand with us. Exit polls, however, told a different story. Despite overwhelming displays of support, more White women still chose to vote for the convicted felon, reality TV star, and rapist. White women answered the call but left us hanging at the polls.

A Familiar Disappointment

I live in DeKalb County, Georgia, and the abundance of Harris-Walz yard signs could’ve fooled me. But I’ve seen this before, back when Stacey Abrams ran for governor. White women showed up, put up signs, attended rallies, knocked on doors, and phone-banked. Yet, when it came time to vote, they let us down—not once but twice. I’ve been here for over 15 years, and if there’s one thing I know, it’s that political signs are symbols without weight.

In every election, I’ve talked with White women. Most aren’t the primary earners in their families and vote along party lines, aligning with the preferences of their fathers and husbands. These conversations reveal a reluctance to break from tradition, even when their votes affect women and certainly when their votes impact the lives of people who look like me.

The Illusion of Solidarity—Symbols Are Not Enough

On social media, I’m seeing White women posting pictures of blue bracelets to “prove” they didn’t vote for Trump. “The blue bracelets are something White women are wearing so others can see that they didn’t vote for Trump,” says Liberal Lisa from Oklahoma on X. Chile, bye. These bracelets are hollow symbols, empty gestures that mean nothing to me. An accessory to claim distance from Trump’s legacy is superficial comfort, while the choice to not stand with us in the voting booth is far more profound.

I’ve seen Black Lives Matter signs and black squares posted on Instagram to “prove” support for Black people, but we now know that was a lie, too. Will those same people who claimed Black lives mattered now take down their Harris-Walz signs and show their true selves?

Navigating these truths is a daily struggle for me—professionally and socially. White women often misuse their privilege, supporting us only when it’s convenient. Seeing overqualified Black women sabotaged or abandoned by White women at critical moments is a constant emotional challenge. It’s exhausting to live with this reality, especially when solidarity seems like something they pick up and discard at will.

One clever campaign ad from Harris-Walz that spoke directly to White women. “Your Vote, Your Choice” emphasized that their vote was private—independent of their household situation. Another was from Olivia Howell Dreizen, the “Vote Without Fear” campaign, which empowered women to consider the greater impact of their choices. But it seems many still couldn’t choose the roadmap to freedom—even when it was handed to them.

A Call for Action Beyond Words

White women, I want to believe you care, but actions speak louder than yard signs, bracelets, or Instagram posts. Show up in our communities, advocate in your workplaces, and stand up to dismantle the structures that uphold white supremacy. Only through real action will we know where you stand.

If you choose not to act, we see you—and we know exactly where you stand. Good luck these next four years.

Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of BlackPressUSA.com or the National Newspaper Publishers Association.

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Supernova Parenting Conference Empowers Over 100 Parents with Resources for Neurodivergence and Mental Health

The inaugural Supernova Parenting Conference was co-hosted by Natasha Nelson, known as Supernova Momma, and Yolanda Walker, founder of Parenting Decolonized. It brought together over 100 parents, caregivers, and educators dedicated to fostering understanding and support for neurodivergent children and mental health challenges. The conference provided invaluable resources, expert insights, and a collaborative space for […]

Published

2 weeks ago

November 7, 2024

BlackPressUSA.com

The event featured a variety of workshops, panel discussions, and keynote speeches from leading experts in neurodiversity and mental health. Attendees left with practical tools and strategies to enhance their parenting journeys, emphasizing the importance of understanding and supporting the unique needs of neurodivergent children.

“While the conference was a tremendous success, we believe that our work doesn’t end here,” said Natasha Nelson. “It’s crucial to continue providing ongoing support and resources for parents as they navigate this important journey. We want to ensure families can access the tools they need long after the conference.”

To extend the momentum generated at the conference, Natasha and Yolanda are excited to announce the launch of the Supernova Parenting Community. This membership-based initiative aims to offer a safe and supportive environment for parents and caregivers to continue their growth as conscious parents.

Membership is available for as little as $5 a month via Patreon, making it accessible for all families seeking support.

“We know that parenting can be a challenging journey, especially when navigating neurodivergence and mental health issues,” Yolanda Walker added. “Our goal is to build a community where parents feel seen, heard, and supported. We hope you’ll join us in this vital work.”

For more information about the Supernova Parenting Community and to sign up for membership, please visit supernovaparenting.org