Friday, November 27, 2015

Student loan debt is contributing to racial gaps in income and even wealth inequality


Can student debt forgiveness help reduce wage and wealth inequality, particularly with respect to race? Danielle Douglas-Gabrielle thinks so, as in this Washington Post article Wednesday, here.
 
I was lucky, that by spring 1966 my parents had bankrolled my undergraduate education at the George Washington University, when the highest tuition had been $850 a semester (and I lived at “home” after the William and Mary debacle).



The writer here suggests that policymakers reduce debt based on household income after graduation.
For all the criticism of Donald Trump, he actually paid the college tuition of one or more of his Apprentice contestants (such as Troy McClain).
Update: Nov. 28

This piece by Tim Wise of CNN "What Whites don't know about racism" seems relevant, link here.

Update: Nov. 30

Rob Wile of Fusion writes that white parents often help their kids with home downpayments (possibly illegally, under the table) where as in black families the kids help the parents, leading to more inequality, in connection with the student dent problem, story here.

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