Future Majority
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While our generation can strive for better personal finance habits, we also need to lower the cost of college and expand employment opportunities so that people have more money in their pockets to afford basic goods. LIKE this post if you agree!
We just heard that 50% of recent college graduates are unemployed or underemployed! LIKE and SHARE this link if you agree that this statistic is shocking!!!
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The Facts
Rick Santorum does not believe that all young people should pursue higher education: “President Obama once said, said he wants everybody in America to go to college. What a snob…Well, I understand why he wants you to go to college, he wants to remake you in his image.”
Why We…
Rep. George Miller taking a stand against student loan interest rates doubling in July. Thanks for always being an advocate for young people!
Vice President of the Economic Institute Ross Eisenbrey talks about whyinterns are wonderful but unpaid internships are bad, on last night’s Colbert Report: “Everyone who works for someone else for their financial benefit, should be paid for it.” They talk about an unpaid intern at the Report isn’t gaining an academic experience because he’s not in class - but he has to pay for the credits for his internship AND he’s not getting paid for his internship. Interestingly, he also says that college athletes should also probably be getting paid. “When people work for free employers get the idea that they don’t have to pay for labor. If Stephen Colbert can get away with it, if everyone can get away with it, I won’t pay all of the entry level labor… . We have bigger and bigger profits and more inequality than we’ve ever had in our experience… in the Gilded Age….”
The Facts
Study shows that 4 out of 5 US bankruptcy attorneys reported “major jump[s] in student loan debtor[s] seeking help.”
Student loan debt is currently greater than national credit card debt.
Research shows that “of the Class of 2005 borrowers who began repayments the year they…
“You’re too cute to be a Republican.” -me talking to a young voter seen on NBC Nightly News
He was though
Herman Cain gave his own response to the State of the Union at the National Press Club where he talked about how grateful he is with the endorsement from Stephen Colbert because he wants to keep the “youth vote inspired” because
“they’re not gonna go and watch the shows that some of us more mature people watch to find out what’s going on in the race … they’re watching The Stephen Colbert …”Read more here….
Here’s how your interest rate on your student loan might double
If Congress does nothing, this July 1st over 7.8 million undergraduates will see interest rates on new subsidized Stafford loans double from 3.4% to 6.8%, further increasing their debt burden.
Borrowers who will take out the maximum $23,000 in subsidized Stafford loans will see their interest balloon to an additional $5,200 over a 10-year repayment period and $11,300 over a 20-year repayment period.
Info via CalPIRG
- “most daunting challenge can be the cost of college. At a time when Americans owe more in tuition debt than credit card debt”
- “Congress needs to stop the interest rates on student loans from doubling in July”
- “Higher education can’t be a luxury – it’s an economic imperative that every family in America should be able to afford”
- “states also need to do their part, by making higher education a higher priority in their budgets”
- “After all, innovation is what America has always been abt Most new jobs are created in start-ups and small businesses” - true, many by youth
New book about why young people leaving the church. Interesting given this recent video from a young guy about why he still loves Jesus but hates the church. The video went viral with over 16 million views and starting a national conversation about why young people are fleeing religious institutions across the country. As you might remember from FM - data shows young people running away from churches is more the norm these days.
