It’s worth noting, first of all, that black and Hispanic college students are more likely to have to borrow to pay for a college education and that they end up having to borrow more money to cover college costs. A study from Demos analyzing federal data found that 86 percent of black students and 87 percent of Hispanic students got loans to attend private universities, compared to 72 percent of whites.
August 2, 2017 (New York, NY) – In response to reports today that the U.S. Department of Justice plans to investigate higher education institutions’ affirmative action policies, Heather McGhee, President of Demos and Demos Action, issued the following statement.
The top three economic issues for young people are debt-free public college, paid family and medical leave and a higher minimum wage (followed closely by affordable childcare).
Without the Consumer Financial Protection Bureau, lenders preying on communities of color would continue to pull in windfall gains, while widening the racial wealth gap and undermining the precarious financial stability of vulnerable households.
July 21, 2017 (New York, NY) – In honor of the sixth anniversary of the creation of the Consumer Financial Protection Bureau (CFPB), Tamara Draut, Vice President of Policy and Research, issued the following statement.
Black students are far more likely to take on debt for a degree than white students, and young black households have more student debt despite fewer educational opportunities and a more uncertain payoff in the job market.
Methodology: Demos sponsored an online survey among 1,536 registered voters, conducted June 5 to June 14, 2017. The research included a base sample of registered voters and, for deeper analysis, oversamples of working-class African Americans, working-class Hispanics, working-class white Obama-to-Trump voters, and progressives, defined as people of all races who identify as extremely or somewhat liberal. The data in this survey is weighted by standard weights to make it fully representative.
“We think of education funding, particularly at the state level, as a spending issue, but it’s myopic,” said Mark Huelsman, a senior policy analyst at Demos, a left-leaning think tank. “There are all kinds of second order effects to investing in education — homeownership or wealth building is certainly one of them. If you don’t spend the money on students now and that means that they’re less likely to go to college or they’re more likely to take on debt, that is going to impact their future economic activity.” [...]
“It’s clear that the exact cohort that they were tracking has gone through a fairly tumultuous young adulthood,” said Mark Huelsman, a senior policy analyst at Demos, a left-leaning think tank.
In a recent study, I compared the damage from shoplifting with that from just one form of wage theft, the failure to pay workers the legal hourly minimum.
Employers’ growing interest in helping workers pay back their student loans “reflects that many, if not most, workers entering the workforce have to contend with their student loans,” said Mark Huelsman, a senior policy analyst at Demos, a left-leaning think tank. [...]
New York, NY - With the House of Representatives poised to vote on H.R. 10, the Financial CHOICE Act, Amy Traub, Associate Director, Policy and Research at Demos, issued the following statement:
The nation is experiencing a crisis of care. Across the country, parents are trapped in an economic bind without paid leave or affordable child care, even as older Americans and people with disabilities contend with their own unmet needs for care. At the same time, we face a desperate need for good jobs. While unemployment has fallen, millions of working people still struggle to make ends meet with low wages, precarious work schedules, and a lack of basic benefits and job security.
It's time to recognize that in a world where most students must borrow for a credential, borrowers should receive the same failsafe protections on these loans as they do on any other consumer loan.
“It doesn’t do anything to address the root problems of college affordability and of rising student debt,” said Mark Huelsman, a senior policy analyst at Demos, a left-leaning think tank. Those include state disinvestment in higher education, a trend that the federal government could help reverse, according to Huelsman, by using federal money to encourage states to up their investment in their public colleges. [...]