INTERGENERATIONAL DEBT AGREEMENT — It is common knowledge that many students take out loans every year to attend college in hopes of increasing their earning potential. What is less known is that their parents are too – and they don’t reap the benefits.
Parents who have taken out loans through the Parent PLUS Loan program are accepting “one of the riskiest federal student loan options.” according to an analysis by The Century Foundation. And though more than 3.7 million families owe more than $104 billion in federal student loans, they have been largely left out of talks about sweeping debt cancellation.
— Ten years after the start of parental repayments, 55% of the capital remains unpaid, said Peter Granville, author of the report and TCF senior policy associate, in an interview. “Many borrowers are treading water to cover month-to-month interest and, if possible, repay principal,” he said. “If you look 20 years from now, even then 38% of that principal remains unpaid.
“If you just do the math, that means for a lot of parents; they spend more time repaying these loans than the time they spent with their child at home raising them before going to college,” he said.
“Why were they left out?” Granville said this could be due to a lack of data. “Researchers have kind of felt in the dark when it comes to Parent PLUS because there’s very little data on these parents themselves,” he said, adding that there’s “a lot less knowledge about actual parents and their track record in taking out these loans.
– Granville’s report is based on new data released last year in the College Scorecard system that included new reimbursement data, including for Parent PLUS. This is the first deep dive into data, and the release of the report comes as President Joe Biden seeks to finalize his federal plans to cancel student loans. The report highlights the importance of extending any relief to parents with PLUS loans.
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NOTABLE — Homeland Security Secretary Alejandro Mayorkas visits Uvalde, Texas, today to meet “the workforce, as well as local elected officials”.
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WHO DEFENDS PARENTS? — Last year, dozens of civil rights groups demanded in a letter that parents and other types of loans be included in any debt forgiveness plan. They called on the Biden administration to forgive $50,000 in student loans per borrower. The Education Trust, which signed the letter, is working on other reports on Parent PLUS programs and supports the recommendations of the TCF report, according to Brittani Williams, who leads the group’s work on student loan debt.
– Racial disparities are prevalent on the program, Williams said. “Particularly for low-income families, as well as Black and Latino families, parents disproportionately take Parent PLUS loans,” she added. “Because of this heavy use and the conditions that are put in place, it can be seen as adverse…and the conditions are really exacerbating the racial wealth gap.”
— Especially for black and Latino families, Williams said, the notion “that a college degree equates to upward mobility or upward economic status” still holds true, meaning they take on the loans with the belief that it will pay off. “Sometimes the truth is that mobility just isn’t there because of the burden of debt,” she said. “That’s why Ed Trust is asking for the cancellation.”
— Other problems to solve: Parents are excluded from key relief options, including income-contingent repayment and waiver of public service loan repayments, according to Persis Yu, policy director of the Student Borrower Protection Center. “They’ve been left out of so many different relief programs so far,” Yu said. debt.”
– “It’s so overwhelming that you now need intergenerational debt to be able to pay for college,” Yu said. “It puts a heavy burden on families who don’t have the wealth… and unlike student debt – at least in theory – this debt will not contribute to the increased earning potential of parents. And we know that’s not necessarily true for a lot of students either.
EXCLUSIVE: GROUPS URGE CARDONA TO ADOPT A WHOLE-CHILD STRATEGY FOR PANDEMIC RECOVERY – The Alliance for Learning and Development Science, along with 50 education and youth development organizations, sends a letter to Education Secretary Miguel Cardona outlining a recommended path for the recovery of Covid-19.
—The public letter“Charting a path to Covid recovery for all young people,” explains “how to speed up recovery from Covid requires focusing on the whole child”. The groups call for three initial immediate actions:
— First: Groups say Ministry of Education and education providers should commit to “embracing a shared mindset” that it will take several years to recover. Recovery requires “a sequenced, comprehensive, focused, and flexible approach to meeting the academic, social, emotional, and health needs of young people.”
— Second: State and local educators and leaders need the “best information we have.” build on existing evidence and continually improve this information over time. The groups ask
—Third: The groups say that revamping and aligning schools and other learning environments is crucial.
“DIFFICULT” MOMS — Today, Thousands of suburban women are expected to take part in the National Troublemaker Training, run by Red Wine & Blue, a Democratic-leaning group that has trained and connected nearly half a million suburban women. They train women and mothers to mobilize and organize their friends to “combat extremism – from book bans to government-mandated pregnancies to gun violence – and to hold extremist politicians accountable in November”.
— Training is also part of the group’s strategy Large turnout of troublemakersa new organizing campaign to urge women to “do more than vote in the 2022 midterm elections”, according to a press release. Moms Rising and local parent organizations will also participate in the launch event.
— Democratic Michigan State Senator Mallory McMorrow is expected to be part of the training alongside suburban moms from North Carolina, Ohio and Pennsylvania. Red, Wine & Blue founder Katie Paris will also share announcements about the program and target states. Watch the training at 8 p.m.
PARENTS SUE SCHOOL FOR HIDING STUDENTS’ PRONOUNS — Alliance Defending Freedom, on behalf of a group of parents and teachers, is suing the Harrisonburg City Public School Board over its policy that requires staff to use pronouns that a student identifies with, but prohibits staff from sharing them with the parents.
— ADF, in a press release, accused the school board of “usurping the right of parents directing their children’s education and forcing school staff to violate their religious beliefs by asserting the board’s view of gender identity. He also said the policy instructed ‘staff to mislead and deceive parents’.
— The trial, ADF v. Harrisonburg City Public School Boardwas filed in Rockingham County Circuit Court after sending a letter in January about the district’s gender transition action plans, which specify that students’ families should only be involved when deemed “appropriate,” the ADF said.
– “Parents – not public schools or government officials – have the fundamental right to direct the upbringing, care and upbringing of their children”, said ADF lead attorney Ryan Bangert. “Teachers and staff cannot deliberately hide information about children’s mental health from their parents, especially since some of the decisions children make at school have potentially life-altering ramifications.”
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