President Obama’s 2010 budget would transform the federal financial aid system that struggling students and families rely on to pay for college. The proposed budget cuts excessive lender subsidies, moves to more efficient direct lending instead, and invests the savings in students. Our report examines the impact, for the entire country and for students in each state.
» Related Reading: The Obama Budget: A Stick In the Eye For Banks
Attending the “Degrees of College Debt” panel at the America’s Future Now! conference last week, it was astonishing to hear dozens of graduates describe the mountains of debt they are climbing; $10,000! $50,000! $120,000 of debt! attendees shouted, when asked by the panel how much debt they had. read more »
We have seen a “bailout” of corporate and Wall Street swindlers, with the working class being forced to pick up the tab. Struggling homeowners deserve a break, not the devastation of foreclosure. Hardworking families deserve a break, not the shock of unemployment. And public educators deserve a break, not the damaging mandates of program improvement and the threats of state takeover that have fallen on my high school and countless others like it due to the draconian quotas of the No Child Left Behind Act. ... read more »
One of the worst casualties of the Iraq war and the Wall Street failures is the U.S. public school system, which is central to the nation’s economic, intellectual and social health. With financial resources being consumed, education cuts are on the way. ... read more »
President Bush signed bipartisan legislation in December reauthorizing the Head Start program. But even as they praised the program, Congress funded the program at $480 million below its authorized level. Then President Bush in early February proposed a budget that would reduce funding even further below what the Congress authorized. read more »
Americans want schools that teach values as well as math and reading. read more »
Here are some basic facts behind our call for "real investment" in people, assembled from recent government and private studies. We've fallen behind as a nation, but making the right spending choices will yield lasting dividends.read more »
Of the institutions that responded to the survey, 28 percent indicated that they expected their institution to have a shortfall in their Perkins Loan fund on June 30, 2008, which would require their institution to make a loan to the fund. Another 18 percent were unsure if they would have a shortfall. read more »
According to a report published by the Chronicle of Higher Education, 23 private college Presidents make over $1 million, even as the recession and rising tuition costs are squeezing students and recent alumni dry.read more »
That period right after college graduation is when young people tend to think they can set the world on fire. Careers are starting, and relationships in the broader world are forming. It’s exciting, and optimism is off the charts. So the gloomy outlook that this economy is offering so many of America’s brightest young people is not just disconcerting, it’s a cultural shift, a harbinger. “Attention,” as the wife of a fictional salesman once said, “must be paid.”read more »
Representative John Kline (R-MN) and Senator Mike Enzi (R-WY) introduced legislation this week that keeps our broken student loan system in status quo, with corrupt private lenders and federal bank subsidies worth billions. read more »
Recently the Secretary of Education, Arne Duncan, advised college financial administrators that with the likely passage of the Student Aid and Fiscal Responsibility Act (SAFRA) in the Senate, universit read more »
The Chronicle of Higher Education released a survey of chief financial officers at four-year universities across the country and it is no treat; their outlook for this budget year (FY 2010) was gloomy, by next year? Even scarier. read more »
Just when you thought that the dust had settled from the scandals of Wall Street (at least temporarily), details come out of another Ponzi scheme by the titans of banking, this time with student loans. read more »
Wow. Break out the spatulas, and get ready to scrape the exploded brains of right-wingers off the ceiling, walls, etc. Apparently, President Obama has won the Nobel Peace Prize.
US President Barack Obama has been awarded the 2009 Nobel Peace Prize.
The Nobel Committee said he won it for "his extraordinary efforts to strengthen international diplomacy and co-operation between peoples".
The committee highlighted Mr Obama's efforts to support international bodies and promote nuclear disarmament.
Mr Obama's spokesman said the president was "humbled" to have won the prize. He said he woke Mr Obama up when he called with the news early on Friday.
There were a record 205 nominations for this year's peace prize. Zimbabwean Prime Minister Morgan Tsvangirai and Chinese dissident Hu Jia had been among the favourites.
The laureate - chosen by a five-member committee - wins a gold medal, a diploma and 10m Swedish kronor ($1.4m).
It's a surprise, but I think I understand why the committee made this choice: You create a lot more goodwill among people when your foreign policy message is something besides, "It's our world, and the rest of you are just livin' in it."
read more »Earlier this week the House held a hearing on private student loans and bankruptcy, shedding light for the first time on a rather unknown yet devastating aspect of student debt. read more »
I congratulate the House passing the Student Aid and Fiscal Responsibility Act (SAFRA) —see description of the bill here. This historic legislation commits billions to student aid and higher education investments, while ending wasteful bank subsidies that total $87 billion. read more »
The Student Aid and Fiscal Responsibility Act (SAFRA) is expected to be introduced in the House today. A historic bill, it will invest billions in student aid and higher education, while ending subsidies to banks (See Bob Brandon’s post outlining the bill here). read more »
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