Elizabeth Warren continues to be a powerful force in the campaign to fix the student loan system. Warren spoke at a recent hearing for the Health, Education, Labor & Pensions committee, saying that although the interest rate necessary to cover the cost of the student loan program without making a profit would be about 2.5%, the government is charging students nearly twice that amount for undergraduate loans, and even more for graduate and direct loans. But Warren has come under fire from critics who say that the figures she is using in her argument are wrong.
In the follow-up to the controversy surrounding the suspension of Northeastern‘s chapter of Students for Justice in Palestine by the school,
Unless you shut yourself off from the world this past week, you probably read, or at least heard mention of, The Atlantic’s feature story on fraternities and their dangers, which highlighted Wesleyan University and Beta Theta Pi. The article explores the role of fraternities on campuses, especially in the crafting of party culture and the rise of sexual assault. The article is long, but well worth the read, and has reopened space for dialogue on these issues.
Since 1902, The Cooper Union for the Advancement of Science and Art has remained tuition free, offering accepted students scholarships drawn in part from
industrialist Peter Cooper’s epic neck beard real estate holdings and alumni contributions to cover the cost of attendance. Though Cooper Union previously rallied under the banner of an education “as free as air and water,” it seems the only banners being hoisted today are in protest of the school’s move to cover only 50% of tuition. On Tuesday, Cooper Union made it official that it would be instituting the tuition plan proposed by the university’s maligned board of directors back in December of 2012. This blog covered developments in this story at length, which included a student response in the form of a building occupation and that occupation’s inevitable conclusion, as the activism at Cooper Union clicked with the campus zeitgeist regarding Wesleyan’s own decision to discriminate against students without the means to attend Wes abandon need-blind admissions.
Click through the jump for more on what this means for those of us who also attend institutions that renege on espoused principles like inclusion and diversity.
For those of you in our audience not planning on working on Wall Street after graduation, there’s a good chance you’re footing the bill for a good amount of student loans (hooray for the free market!).
To call attention to this unfortunate reality, Wesleyan Democratic Socialists are sponsoring a number of student debt related events and actions this week, including a petition-drive (find them in Usdan tomorrow! or sign it on the interwebz) requesting Sallie Mae “forgive all student debt after 5 years of payments” and “eliminate all interest on student loans” as well as a screening of Default: The Student Loan Documentary.