15 Shocking Facts About The Student Loan Debt Bubble And The Great College Education Scam
https://www.youtube.com/watch?v=g_ZC0oxnV9s
They have told us that the future of our country walked hand in hand with education - but when the cost of attaining such education causes irreparable financial damages for millions of college graduates, what future do we really have? College tuition has become increasingly burdensome in recent years. In fact, since the 1970s, the cost of tuition for private institutions skyrocketed by 567%, while for public universities, that increase was shockingly higher, exploding by 2,580%, as reported by the National Center For Education Statistics. Almost 30% of the U.S. population currently carries student loan debt. A significant share of these borrowers has been paying their debt for decades. Now, they're reaching their 60s, and they're being forced to use their Social Security benefits to cover their student loans. Five decades ago, the average tuition for private schools hovered around $4,000. Now, some institutions are charging their students $20,000, $30,000, or even $40,000 a year for tuition and fees, and this sum doesn't even count living expenses. To make things worse, college graduates are facing one of the toughest job markets ever. There's a scarcity of good-paying jobs all around the nation, and despite their degree, a large share of young adults are underemployed, or working in low-wage jobs and earning $25,000 or less, which doesn't even allow them to alleviate their debt burden. At least 33.5% of college graduates are underemployed right now, and about 9% are unemployed, Federal Reserve data show. According to one estimate, today, a private school student working on a minimum-wage job would have to work 100 hours a week, 52 weeks a year, just to pay for tuition. All of this makes us wonder: when did getting a college degree stopped being about people's education and started being an industry of debt? The system continues to push the notion that a college education is the key to a good future and that there is plenty of financial aid out there for everyone that wants to go to college. But they fail to mention that you'll probably spend the rest of your life trying to get rid of that debt, and that it will leave you financially drained for decades. Not even bankruptcy can get you out of student loan debt. It will stay with you forever until you finally pay it off. Now, the U.S. economy is facing the biggest student loan debt bubble in the history of the world, and when our new college graduates finally enter the labor market, they rapidly realize that the good jobs they were promised are very few and far between. As millions of Americans wake up to the fact that the tens of thousands of dollars that they have poured into their college educations was not a guarantee of better working opportunities or financial stability, will the great college education scam finally be exposed? How can this nation grow if we limit the growth of our students the moment they enter college? Opting for an education shouldn't result in such acute financial distress. How can our students feel motivated about getting a degree if that means they will struggle financially for decades after graduation? Sadly, if education is indeed the future of our nation and there’s simply no safety net for our students, then we’re doomed to fail. In today's video, we compiled stats that reveal that education in America has become a lucrative industry of debt. Here are 15 Shocking Facts About The Student Loan Debt Bubble And The Great College Education Scam. For more info, find us on: https://www.epiceconomist.com/ And visit: http://theeconomiccollapseblog.com/
While Biden has vowed to flood the U.S. labor market with more foreign workers to compete against Americans for jobs, he has shied away from questions on whether he will eliminate tariffs on foreign imports that were imposed by Trump. Such elimination of tariffs would be a boon to multinational corporations that offshore their production and jobs overseas only to import their products back into the U.S. market, often with no penalties for doing so.
WH: 'Not a Single Person in This Country Has Paid a Dime on...Federal Student Loans' Under Biden
(CNSNews.com) - "Canceling student loan debt is something that would be good for people all across this country, and, more importantly, good for our economy overall," leftist Sen. Elizabeth Warren (D-Mass.) told "Face the Nation" on Sunday.
It might also be good for Democrats eyeing losses in the midterm election, Warren indicated: "As Democrats, we need to deliver. We need to hit costs head-on," she said.
"And we have the power to do that. We've got less than 200 days left, though. And instead of looking backwards, let's look forward. Let's get done what we can get done for the American people who elected us, for the American people who are counting on us."
At the White House on Monday, Press Secretary Jen Psaki was asked if the Biden administration agrees with Warren on debt cancellation:
"What I would tell you is that not a single person in this country has paid a dime on student -- federal student loans since the president took office," Psaki said. "And what we have said is that he (President Biden) would make a decision about any cancellation of student debt before the conclusion of that pause on student loans.
"But I don't have anything to preview for you at this point in time," Psaki added.
Warren told CBS that loan forgiveness is a matter of "racial equity," and Psaki said the president agrees with that:
"Yes, it is a racial equity issue," Psaki said on Monday, "but (it) is also an issue that impacts many individuals, young people, middle-aged people of all races. It is something that he has -- he has played -- has been a vital priority to the president, which, again, is why not -- not a single person has...paid a penny, a dime -- a dime or a penny in student loans since he took office."
President Donald Trump signed a moratorium on student loan repayments on March 2020, when the COVID pandemic took hold, and President Biden has extended that repayment moratorium several times, most recently on April 6.
In his April 6 order, Biden noted that on his first day in office, "I directed the Department of Education to pause federal student loan repayments through September of that year.
"At the time, our economy was barely growing. Fewer than 1 percent of Americans were fully vaccinated. Millions of Americans were struggling to stay afloat. Because of that pause in repayments, 41 million Americans were able to breathe a little easier during some of the toughest days of the COVID-19 pandemic.
"Today, America is stronger than we were a year ago," he said. "However...we are still recovering from the pandemic and the unprecedented economic disruption it caused. If loan payments were to resume on schedule in May, analysis of recent data from the Federal Reserve suggests that millions of student loan borrowers would face significant economic hardship, and delinquencies and defaults could threaten Americans’ financial stability.
"Accordingly, to enable Americans to continue to get back on their feet after two of the hardest years this nation has ever faced, my Administration is extending the pause on federal student loan repayments through August 31st, 2022. That additional time will assist borrowers in achieving greater financial security and support the Department of Education’s efforts to continue improving student loan programs. As part of this transition, the Department of Education will offer additional flexibilities and support for all borrowers.
"I’m asking all student loan borrowers to work with the Department of Education to prepare for a return to repayment, look into Public Service Loan Forgiveness, and explore other options to lower their payments. Vice President Harris and I are focused on supporting borrowers in need, and believe that this pause will provide a continued lifeline as we recover and rebuild from the pandemic."
President Biden has said he would sign a bill, if Congress sends him one, cancelling up to $10,000 in student loans per borrower. So far, he opposes the push to wipe out all student loan debt.
Loan forgiveness ignores tuition gouging
Republicans on House Education and Labor Committee argue that "blanket student loan forgiveness is not a solution."
In a March 1 message, the committee Republicans wrote:
"This administration cares more about appeasing the progressive wing of the Democrat party than offering solutions to address the rising cost of college. Americans don’t need quick fixes and snappy soundbites—Americans need meaningful reform. The federal student loan system must evolve so that it stops providing incentives for colleges and universities to raise the cost of tuition.
“Instead of advocating for sensible policy solutions, Democrats are pushing radical student loan forgiveness schemes. Blanket forgiveness would compound the nation’s 40-year-high inflation rate, while disproportionately benefiting high-income borrowers -- the very people who least need help and are reaping the benefits of the postsecondary education taxpayers provided them.
"It also does nothing for future borrowers as it ignores the systemic problems plaguing the student loan program that created the vicious debt spiral and tuition-bubble we have today. President Biden and radical progressives have nothing to say to the thousands of students taking on education debt the day after forgiveness hits other than 'good luck.'
"Reckless loan forgiveness policies are a short-sighted answer that would crush American taxpayers and leave our higher education system more broken than before."
Analysis conducted last year reveal that 71 percent of tech workers in Silicon Valley are foreign-born, while the tech industry in the San Francisco, Oakland, and Hayward area is made up of 50 percent foreign-born tech workers.
While Biden has vowed to flood the U.S. labor market with more foreign workers to compete against Americans for jobs, he has shied away from questions on whether he will eliminate tariffs on foreign imports that were imposed by Trump. Such elimination of tariffs would be a boon to multinational corporations that offshore their production and jobs overseas only to import their products back into the U.S. market, often with no penalties for doing so.
By failures of border security, a lack of the enforcement of our immigration laws from within the interior of the United States and huge numbers of visas for high tech workers, the lives and livelihoods of Americans and their children, are being stolen by America’s corrupt political elite who are doing the bidding of those who provide them with huge “Campaign Contributions” (Orwellian euphemism for bribes) pursue legislation that is diametrically opposed to the best interests of America and Americans.
MICHAEL CUTLER
Google Launches ‘Inclusive Language’ Function to Promote Political Correctness
Google has announced the launch of an “inclusive language” function to help users eliminate politically incorrect words and expressions.
The feature is being introduced initially to Google’s “enterprise-level” users and will include both warnings and suggestions as part of Google’s new assisted writing features in Google Docs.
Typing in the word “landlord,” for instance, generates a warning the term “may not be inclusive to all readers” as well as the suggestion to replace the offensive locution with “property owner” or “proprietor.”
Google inclusive language text-editing.
Similarly, Google takes issue with the word “mankind” and proposes substituting it with the more appropriate “humankind.”
Use of “policemen” and “housewife” provokes a correction as well, and Google will urge replacing them with the gender-neutral “police officers” and “stay-at-home spouse.”
Curiously, the new software seems targeted only at a specific sort of communication infractions.
For example, a transcribed interview with ex-Klu Klux Klan leader David Duke, in which he uses offensive racial slurs and talks about hunting black people, elicited no warnings, perhaps out of respect for similar language found in rap songs.
The program did, however, propose amending President John F. Kennedy’s inaugural address to substitute “for all humankind” in place of “for all mankind.”
Silkie Carlo, of campaign group Big Brother Watch, insisted that “Google’s new word warnings aren’t assistive, they’re deeply intrusive.”
“This speech-policing is profoundly clumsy, creepy and wrong, often reinforcing bias,” Carlo said
A Google spokesman [spokesperson] said: “Our technology is always improving, and we don’t yet [have] a solution to identifying and mitigating all unwanted word associations and biases.”
NEO-FASCIST MARK ZUCKERBERG SAYS HE WILL ELECT OBOMB FOR A THIRD TERM!
Barack Obama Calls for More Censorship: First Amendment ‘Does Not Apply to Facebook and Twitter’
https://mexicanoccupation.blogspot.com/2022/04/mark-zuckerberg-i-am-senile-joe-bidens.html
JUDICIAL WATCH’S TEN MOST CORRUPT LIST
President Barack Obama: During his presidential campaign, President Obama promised to run an ethical and transparent administration. However, in his first year in office, the President has delivered corruption and secrecy, bringing Chicago-style political corruption to the White House. JUDICIAL WATCH
Zuckerberg’s FWD.us Claims No Amnesty Ensures Midterm Defeat for Democrats
The Facebook-funded FWD.us investor advocacy group is touting the claim that Democrat turnout will drop in 2022 if the party cannot pass an amnesty through Congress.
But that claim is toothless, in large part because recent polls show that many Americans of Latino ancestry are increasingly voting for the GOP, precisely because GOP leaders oppose the amnesty-amplified wave of cheap labor into their communities.
The claim is being made by pro-migration groups, including the leaders of the National Day Laborer Organizing Network (NDLON) which denounced the Senate’s parliamentarian’s decision to exclude the parole amnesty for 6.5 million illegals from the draft Build Back Better spending plan.
NDLON declared Thursday night:
Democrats’ excuses for their failure, for their incompetence, and for their insincerity will be the ammunition used by xenophobes in the Republican Party to retake control of the federal government in upcoming elections. Inaction on immigration legalization risks further propelling Trumpism in every possible way … No more excuses. Where there is a will, there is a way.
The NDLON group represents illegal migrants, most of whom work for very low wages, and none of whom can vote in U.S. elections.
Rep. Lou Correa (D-Calif.) is making the same claim, according to Bloomberg, which reported that he “warned that Democrats would face wrath from voters in the 2022 elections if they don’t secure a citizenship path”
But the NDLON claim is being echoed by the politically powerful investor class, who use imported workers, consumers, and renters to spike the value of their Wall Street investments.
Todd Schulte is the president of the FWD.us advocacy group for investors, which gets about $30 million a year from the Chan Zuckerberg Initiative to push for more migration. On Thursday night, he tweeted:
Schulte’s deputy also pushed a hard line:
Unsurprisingly, FWD.us has a hidden agenda in the amnesty debate.
The establishment media extensively cover the proposed parole amnesty for 6.5 million illegal migrants. But the media largely ignores two other proposed changes to immigration laws that would deliver huge benefits to West Coast investors who created the FWD.us advocacy group in 2013.
For example, the BBB legislation would allow the White House to provide green cards to millions of favored migrants, including perhaps three million “chain migrants” selected by recent immigrants. This open-doors policy would provide investors with millions of new profit-generating consumers, renters, and workers.
The BBB legislation would also allow President Joe Biden’s pro-migration deputies to sell green cards to at least one million migrants who have taken many of the Fortune 500 jobs sought by skilled U.S. college graduates. This change would allow Fortune 500 companies to hire many more foreign graduates with dangled offers of fast-track green cards. These workers are usually imported via the visa worker programs, such as the H-1B and Optional Practical Training program.
But those two benefits for the Fortune 500 investors may be dropped if the Democrat senators cannot also get their amnesty for illegal migrants.
On Friday, an advocacy group for corporate-funded immigration lawyers urged Congress to keep pushing the green card giveaway, even after the amnesty was nixed:
“The corporate guys are riding on perceived sympathy for the illegal alien population in order to get their immigration giveaways,” said Robert Law, the director of regulatory affairs and policy at the Center for Immigration Studies. He continued:
The Hispanic population knows immigration is a pocketbook issue for them as well, and mass illegal immigration — plus legal immigration — hurts the economic opportunities of Hispanic Americans or the black community, or any people who typically are competing at the lower end of the economic spectrum.
The Senate’s debate referee has not issued any judgments on the two green card proposals.
Zuckerberg’s FWD.us network of coastal investors stands to gain from more cheap labor, government-aided consumers, and urban renters. The network has funded many astroturf campaigns, urged Democrats to not talk about the economic impact of migration, and manipulated coverage by the TV networks and the print media.
FWD.us’also spotlights many family dramas amid the inflow of border migrants. This focus helps keep reporters from recognizing the huge pocketbook impact of the establishment’s economic policy of mass migration. The resulting family-drama coverage also keeps many young progressives from noticing that the extraction migration policy drives up their rents and cuts their salaries.
The breadth of investors who founded and funded FWD.us was hidden from casual visitors to the group’s website sometime in the last few months. But copies exist at other sites.
Biden’s Chief of Staff Worked on Behalf of Big Tech for Endless H-1B Visas
Democrat Joe Biden has chosen Ronald Klain to be his chief of staff should he enter the White House in January. Klain worked on behalf of Silicon Valley executives and their interests, which include providing tech corporations with an endless supply of H-1B foreign visa workers and more free trade.
Klain, who was made Biden’s incoming chief of staff this week, served on the executive council of TechNet — a firm that promotes the interests of Silicon Valley’s tech corporations in Washington, D.C. Klain served on the council alongside executives from the Oracle Corporation, Hewlett-Packard Enterprise, Google, Visa, Apple, and Microsoft.
TechNet, most recently, joined a lawsuit against President Trump’s reforms to the H-1B visa program that sought to prioritize unemployed Americans for jobs rather than allowing businesses to continue importing foreign workers.
TechNet is one of the groups that has filed an amicus brief to oppose the new regulations on H-1B visas. https://t.co/ofY4GJ2sVR
— U.S. Tech Workers (@USTechWorkers) November 12, 2020
Trump’s seeking to force businesses to hire Americans over importing foreign visa workers is an affront to Silicon Valley’s tech corporations, those represented by TechNet, who advocate for an endless flow of H-1B foreign visa workers.
There are about 650,000 H-1B visa workers in the U.S. at any given moment. Americans are often laid off and forced to train their foreign replacements, as highlighted by Breitbart News. More than 85,000 Americans annually potentially lose their jobs to foreign labor through the H-1B visa program.
Analysis conducted in 2018 discovered that 71 percent of tech workers in Silicon Valley, California, are foreign-born, while the tech industry in the San Francisco, Oakland, and Hayward area is made up of 50 percent foreign-born tech workers. Up to 99 percent of H-1B visa workers imported by the top eight outsourcing firms are from India.
TechNet’s listed immigration goals include allowing corporations to dictate the annual level of legal immigration to the United States and the elimination of per-country caps that would effectively let India and China monopolize the U.S. green card system.
The group’s goals on trade are in direct opposition to President Trump’s economic nationalist agenda that has imposed tariffs on foreign imports from China, Canada, Europe, and other parts of the globe.
TechNet’s trade goals include reducing “tariff and non-tariff barriers to information, communications, and advanced energy technology products, services, and investments” as well as “protections for the free flow of data across borders…”
While Biden has vowed to flood the U.S. labor market with more foreign workers to compete against Americans for jobs, he has shied away from questions on whether he will eliminate tariffs on foreign imports that were imposed by Trump. Such elimination of tariffs would be a boon to multinational corporations that offshore their production and jobs overseas only to import their products back into the U.S. market, often with no penalties for doing so.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.
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