Wall Street’s Role in Education
2 July 2018
The student loan industry’s influence on government policy must be exposed, and its role in the larger student debt crisis cannot be downplayed.
Julie Margetta Morgan, a Fellow with the Roosevelt Institute, explains how powerful industry players have succeeded in exploiting the student loan system “for the good of student loan borrowers”. Margetta Morgan also argues that advocates and researchers need to not only change the rules of the system, but also change the way we think about the system.
10 April 2018
At a time when student loan servicers are seeing their interests protected by Education Secretary Betsy DeVos and Congress—above the interests of individual consumers and student loan borrowers—a Student Loan Bill of Rights at the state level is absolutely necessary.Blog, Existing Student Debt, Take Action, Wall Street's Role in Education
3 April 2018
In March, 2018, a bipartisan coalition of Senators passed a controversial bill that would rollback key financial reforms put in place after the Great Recession. While loosening rules on banking practices that contributed to the financial crisis of 2008, the bill’s proponents argue that they included “consumer protections” for the U.S.’s 44 million student loan borrowers.
However, the Consumer Federation of America concludes that these touted-protections will actually do very little to help those with student debt.
DeVos Education Department Acts to Prevent States from Protecting Student Loan Borrowers: What Our Partners and Allies Think
13 March 2018
Secretary of Education Betsy DeVos acted to stop states’ legal right to protect their residents from bad practices by student loan servicing companies. Consumer and students’ rights groups reacted strongly against this move to protect financial companies over student loan borrowers.Blog, Existing Student Debt, Wall Street's Role in Education
4 August 2016
Nearly 4 in 5 of these wealthy institutions have an annual net price for low-income students that exceeds 60 percent of their annual family income. These colleges can and should do more to enroll a greater number of low-income students and to make college more affordable.Blog, Wall Street's Role in Education