The student loan program today serves industry insiders over its core stakeholder: students. The government justifies bailing out these other participants—lenders, servicers, debt collectors, and even colleges—as being in the best interests of students, student loan borrowers, and taxpayers. These claims, however, do not hold up. In Who Pays? How Industry Insiders Rig the Student
The Financialization of Higher Education at Michigan State University is the latest report from Roosevelt’s Financialization of Higher Education project. To learn more about the project, click here. The US’s higher educational institutions today are a far cry from the promise progressives have envisioned for higher education. Successful public higher educational institutions have, rightly so, been defined
The Levy Institute recently released a research paper I co-wrote with Stephanie Kelton, Scott Fulwiler, and Catherine Ruetschlin that models the macroeconomic impact of cancelling all of the student debt that is currently outstanding in the United States—just over $1.4 trillion, held by between 40 and 50 million borrowers. The federal government would write off
In the last few years, a wave of student divestment campaigns has swept across American colleges and universities as a way to combat climate change and, more recently, Puerto Rico’s debt crisis. These students should exert similar pressure on their universities’ endowments to fight against the toxic, shortsighted forces of next-quarter capitalism—a growing trend in
In late fall of 2017, chancellors at four University of Tennessee (UT) system schools took bold action prioritizing the job security and voice of local constituents by rightly rejecting a state-level outsourcing contract to privatize the management of state facilities. The benefactor of the proposed deal—which was pushed heavily by Republican Governor Bill Haslam—was Jones
The idea that higher education is an essential pathway to economic security, regardless of how much it costs, has been cemented into the public’s mind. We’ve been told that people need more education and that investment in higher education will pay off. Every day, individuals and families make decisions based on these beliefs. But the
“Higher education” is a vague term. It describes a sector that is hardly uniform, with over 4,000 degree-granting institutions eligible for federal funding but serious disparities among them. A college education from one of these institutions continues to serve as a prerequisite to moving up the income ladder in our narrative about economic mobility. Yet,
Who writes the rules matters. The ongoing effort by Tennessee Governor Bill Haslam to privatize the facility support staff of state-run universities, parks, and National Guard armories is proof of this. Thus far, this push has happened mostly behind closed doors and entirely at the discretion of the governor and a small group of decision-makers.
In September, the Department of Education unveiled its new College Scorecard website. The scorecards are a major step forward in unleashing the power of educational data, as they allow prospective students to compare outcomes at different schools, providing data on costs, graduation rates, graduate indebtedness, and student earnings, among other metrics. But the scorecards have shortcomings, too, ranging from the limits of the data sample—the tax returns of students who received federal aid—to their reduction of a college education to a purely economic exchange. Among its most significant oversights, the scorecard data fails women.
Roosevelters weighed in on the first Democratic debate on #RooRxn last night. Today, Aman Banerji and Alan Smith of Roosevelt’s National Staff and Alyssa O’Brien of Roosevelt Northeast examine the issues the candidates missed. The first Democratic debate is in the books, and it was a welcome change of pace for those who, like the