Fun fact, many of those students are still waiting to get their debt discharged because @arneduncan & @JohnBKing & @BetsyDeVosED would team up to screw them over
We have the receipts
A Biden/Harris admin will need to make a clean break from this disgraceful past
We prepared a simple two page document that would have discharge all debt for all defrauded Corinthian students. All it would have taken is one signature from @arneduncan
. He refused. Most Corinthian students still have their debt as a result.
@JohnBKing could have canceled all of this debt instead of throwing Corinthian students to the wolves after Trump won. He hardened his heart and refused. vimeo.com/194002892
There is a continuity of cruelty that is consistent between Arne Duncan/Ted Mitchell/John King and Betsy DeVos who continues to deny defrauded students their rights. nytimes.com/2020/07/10/bus…
@arneduncan promised Corinthian students “If you’ve been defrauded by a school, we’ll make sure that you get every penny of the debt relief you are entitled to"
Instead of closing down Corinthian campuses, @arneduncan & Ted Mitchell bent over backwards to keep as many of them open as they could, even going so far as to sell them to the predatory mafia-like debt collector ECMC huffpost.com/entry/ecmc-ceo…
They can and must break with this past and cancel ***ALL*** student debt and fully fund all public colleges/universities. The solutions are real & practical
In an effort to dismiss the idea of cancelling all student loans, folks will often say that it would be a "big giveaway" to the upper middle class, or in other words "regressive."
In reality, cancelling student debt would actually benefit low income borrowers the most.
Thread.
There's a deep class bias in how we finance higher education. Even though some middle class/wealthier people have student debt, lower-income borrowers, especially Black and brown people, have higher balances and are more likely to leave school because they can't afford to pay.
Cancelling student loans would restore our commitment to education as a right while disproportionately benefitting the people who need it most. Why are we having a hard time paying down our debt?
Because the cost of college has gone up but our pay hasn’t.
This is an important article that gives us all a chance to learn about human capital theory and how it is some bullshit. currentaffairs.org/2019/09/cancel…
Human capital is the idea that the "value of labor is connected to what that labor produces. If you can produce things of high value, but you’re not getting paid an amount that reflects that high value, you’ll go produce value for someone who will pay you more."
Through competition between employers, wages should supposedly approximate the 'value' of labor as measured by what that labor produces. And the value of an individual’s labor—again, linked to the value of what they can produce....