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OPINION: Don’t Let Biden Get Talked Out of Student Loan Forgiveness

A Brookings Institute study in 2018 took a long view on student borrowing going back to 1995-96. It found that for-profit borrowers default at twice the rate of public two-year borrowers (52 versus 26% after 12 years). Overall, it found the for-profit students were more likely to borrow and had a default rate four times that of public two-year entrants. The study also found that student and institutional factors determined default rates. And that debt and default rates among Black college students was at a “crisis level.”

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Emil Guillermo is a journalist and commentator. He does a talk show on www.amok.com
Emil Guillermo is a veteran journalist and commentator. He is at www.amok.com

By Emil Guillermo

Don’t be confused about the student loan forgiveness plan President Biden announced recently. Sure, it wasn’t all student debt. But it did address the most egregious debt foisted on students by for-profit predator “educators.” The plan would also definitely help BIPOC borrowers more than not.

And yet, days after the announcement, people are questioning the idea from the Left and the Right.

The Left wants no limits, all debt relieved. The Right wants none of it, and asks “Who’s going to pay for it all?” Of course, they don’t ask that when it was mostly the rich who benefited from Trump tax cuts or COVID PPP payouts.

Bottom-line, we can’t let Joe Biden be talked out of student loan relief up to $10,000 for individuals, with an additional amount for those with Pell Grants.

This plan is focused on regular folks, single people with incomes under $125,000, and married folks with incomes under $250,000.

The plan is also ready-made for BIPOC communities who have suffered specifically from private, for-profit schools. Schools which follow a pattern — preying on peoples’ dreams, getting them to take out expensive student loans, that only result in debt, no degree, and busted dreams.

That was how many private, for-profit schools like Corinthian College and ITT Technical Institute preyed on unwary borrowers, resulting in massive debt forgiveness plans for their students before the general forgiveness plan was announced.

Just this week, the Department of Education announced another $1.5 billion debt relief package for 79,000 borrowers who attended Westwood College. Closed down in 2016, Westwood left students holding the bag until the feds came up with a debt package on Monday.

“Westwood operated a culture of false promises, lies and manipulation in order to profit off student debt that burdened borrowers long after Westwood closed,” said Education Undersecretary James Kvaal in a statement.

With evidence from state attorneys general in Colorado and Illinois, the Dept of Education described how Westwood “routinely misled prospective students by grossly misrepresenting that its credentials would benefit their career prospects and earning potential.”

Specifically, the school promised students jobs in their fields within six months of graduation that would “make them employable the rest of their lives.” Everything was inflated, like a “guarantee of employment pledge” that was never made good.

Sound like any of the for-profit schools that have hooked someone you know to sign up for classes in a business park campus off a highway after taking out a hefty student loan?

Sure, there are schools like the Cal State East Bays and the Laney Colleges, state colleges and junior colleges respectively. They are solid public-non-profit institutions. There are also the expensive traditional private schools like Stanford where people have loans out. The Biden-Harris plan will cover between $10,000-$20,000 of all those loans (including Parent-Plus loans) from those schools.

But for the most part we are talking about predator “private, for-profit” colleges, not the kind of schools that teach you the humanities like history or poetry.

And they sure took many a BIPOC student for a ride.

A Brookings Institute study in 2018 took a long view on student borrowing going back to 1995-96. It found that for-profit borrowers default at twice the rate of public two-year borrowers (52 versus 26% after 12 years). Overall, it found the for-profit students were more likely to borrow and had a default rate four times that of public two-year entrants.

The study also found that student and institutional factors determined default rates. And that debt and default rates among Black college students was at a “crisis level.”

Black BA graduates default at five times the rate of white BA graduates and are more likely to default than white dropouts.

As for the institution, out of 100 students who ever attended a for-profit, 23 defaulted within 12 years of starting college in the 1996 cohort compared to 43 in 2004.

The culprit is clearly predator for-profit schools. If you know someone in debt to those types of schools, let them know the Biden-Harris plan promises some relief.

This isn’t about the moral failings of student borrowers.

This is more about the moral failings of the for-profit predators and holding them accountable. And yet they’re getting a lot more sympathy than any of us BIPOC borrowers they preyed on.

Emil Guillermo is a veteran journalist and commentator. Visit him on www.amok.com

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Activism

Oakland Post: Week of December 18 – 24, 2024

The printed Weekly Edition of the Oakland Post: Week of December 18 – 24, 2024

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‘Donald Trump Is Not a God:’ Rep. Bennie Thompson Blasts Trump’s Call to Jail Him

“Donald Trump is not a god,” U.S. Rep. Bennie Thompson, D-Miss., told The Grio during a recent interview, reacting to Trump’s unsupported claims that the congressman, along with other committee members like vice chair and former Republican Rep. Liz Cheney, destroyed evidence throughout the investigation.

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Congressman Bennie Thompson, D-Miss. Courtesy photo.
Congressman Bennie Thompson, D-Miss. Courtesy photo.

By Post Staff

U.S. Rep. Bennie Thompson, D-Miss., said he not intimidated by President-elect Donald Trump, who, during an interview on “Meet the Press,” called for the congressman to be jailed for his role as chairman of the special congressional committee investigating Trump’s role in the Jan. 6, 2021, mob attack on the U.S. Capitol.

“Donald Trump is not a god,” Thompson told The Grio during a recent interview, reacting to Trump’s unsupported claims that the congressman, along with other committee members like vice chair and former Republican Rep. Liz Cheney, destroyed evidence throughout the investigation.

“He can’t prove it, nor has there been any other proof offered, which tells me that he really doesn’t know what he’s talking about,” said the 76-year-old lawmaker, who maintained that he and the bipartisan Jan. 6 Select Committee  – which referred Trump for criminal prosecution – were exercising their constitutional and legislative duties.

“When someone disagrees with you, that doesn’t make it illegal; that doesn’t even make it wrong,” Thompson said, “The greatness of this country is that everyone can have their own opinion about any subject, and so for an incoming president who disagrees with the work of Congress to say ‘because I disagree, I want them jailed,’ is absolutely unbelievable.”

When asked by The Grio if he is concerned about his physical safety amid continued public ridicule from Trump, whose supporters have already proven to be violent, Thompson said, “I think every member of Congress here has to have some degree of concern, because you just never know.”

This story is based on a report from The Grio.

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City of Oakland Celebrates Reopening of Main Library

“Libraries are such critical facilities for all Oaklanders, whether it’s children coming to story-time, adults reading the newspapers or borrowing the latest novels, and people engaging with a range of services and programs that the library hosts,” said Council President and District 2 Councilmember Nikki Fortunato Bas. “Such library services and programs are only possible when the facility’s electricity, heating, roof, and lighting are fixed and running efficiently. I’m proud to join this re-opening of our Main Public Library.” 

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Left to Right- Jamie Turbak, Director of Library Services, LaTonda Simmons, Assistant City Administrator, Nikki Bas, President Oakland City Council, Shen Thao, Mayor of Oakland, Carroll Fife, Oakland City Councilmember District 3, Harold Duffey, Assistant City Administrator, Sean Maher, Projects Coordinator. Photo by Kevin Hicks.
Left to Right- Jamie Turbak, Director of Library Services, LaTonda Simmons, Assistant City Administrator, Nikki Bas, President Oakland City Council, Shen Thao, Mayor of Oakland, Carroll Fife, Oakland City Councilmember District 3, Harold Duffey, Assistant City Administrator, Sean Maher, Projects Coordinator. Photo by Kevin Hicks.

The branch had been closed since May for critical infrastructure upgrades

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The City of Oakland leadership and community partners gathered to celebrate the reopening of the Main Library after completion of critical infrastructure upgrades to enhance the library’s facilities and provide a better experience for patrons.

Renovations include new roof installation, skylight repair, critical electrical system upgrades, new boiler control system installation, auditorium heating and cooling system installation, and improvements to lighting, flooring and ceilings throughout the building.

“This is truly something to celebrate, the reopening of our wonderful Main Library! I congratulate the staff and our partners for this important project to make the Main Library a more comfortable place for everyone for years to come, said Oakland Mayor Sheng Thao. “Thank you to Oakland voters and the California State Library for making these crucial improvements possible.”

“Libraries are such critical facilities for all Oaklanders, whether it’s children coming to story-time, adults reading the newspapers or borrowing the latest novels, and people engaging with a range of services and programs that the library hosts,” said Council President and District 2 Councilmember Nikki Fortunato Bas. “Such library services and programs are only possible when the facility’s electricity, heating, roof, and lighting are fixed and running efficiently. I’m proud to join this re-opening of our Main Public Library.”

“Public libraries are a wonderful resource for our residents, offering a safe space for learning and being,” said District 3 Councilmember Carroll Fife. “It is critical to improve and modernize our libraries so more members of our community can utilize and enjoy them. I’m excited that the necessary renovations to the Main Library have been completed successfully and thank everyone involved, particularly the City team, who helped secured the necessary grant funds for this work.”

“I am proud of the City staff and project partners who kept this important project on schedule and under budget,” said Assistant City Administrator G. Harold Duffey. “The library is an incredibly important resource for our community members, and this project is an investment into the library’s future.”

“December 2nd was a momentous occasion for Oakland Public Library as we proudly reopened the doors of the Main Library following extensive infrastructure repairs,” said Director of Library Services Jamie Turbak. “Closing the Main Library for six months was no easy decision, as it serves as the central hub for our library system and is truly the heart of Oakland. Yet, this renovation was essential, representing more than just physical upgrades—it reflects our ongoing commitment to creating a safe, welcoming space for everyone.”

The City Administrator Jestin Johnson also attended the press conference and signalled his support for the completion of the record-setting completion of the renovations. Gay Plair Cobb, a newly appointed Library Commissioner said the Library represents the soul and brains of our community.

The Oakland Public Library secured funding for these crititcal repairs through a variety of sources. The California State Library’s Building Forward Library Facilities Improvement Program awarded the Main Branch $4.2 million. To comply with the grant terms, the City of Oakland provided matching funds through Measures KK, as approved by the Oakland City Council in October 2023.

The Main Library will host an Open House to celebrate the reopening on February 22, 2025, 10 a.m. – 5:00 p.m.

About the Oakland Public Library

The Oakland Public Library is a part of the City of Oakland in California and has been in existence since 1878. Locations include 16 neighborhood branches, a Main Library, a Second Start Adult Literacy Program, the Oakland Tool Lending Library, and the African American Museum and Library at Oakland (AAMLO). The Oakland Public Library empowers all people to explore, connect, and grow. Oaklandlibrary.org

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