A new report from Rachel Fishman of the New America Foundation, a non-partisan Washington, D.C., think tank, highlights yet another federal government program that’s similarly widening the wealth gap: the Parent PLUS loan program. The Parent PLUS program was created in 1980, its primary goal to help middle-income families pay for college during an era of high interest rates and increasing tuition. The loans, which are not subject to the borrowing limits on other types of college loans, carry a higher interest rate than student loans and are typically used by parents only after other kinds of financial aid and loans (i.e., student loans, federal subsidized and unsubsidized loans, etc.) are tapped out.
Indeed, the majority of Parent PLUS borrowers fit this profile. As the chart below, from the report, shows, over 50 percent of borrowers in 2012 had a family income over $75,000:
Among white borrowers, the Parent PLUS program appears to work as intended (i.e. as a financing mechanism for wealthier families). Among white families, the share of PLUS borrowers increases alongside income: Only one in 10 white PLUS borrowers in 2012 had a family income less than $30,000, and a third had an income over $110,000. Among black families, however, the opposite is true: a third of black PLUS borrowers in 2012 had an income under $30,000, while one-in-10 had an income over $110,000.
— Read on www.google.com/amp/s/psmag.com/.amp/economics/a-federal-college-loan-program-is-exacerbating-the-racial-wealth-gap
As hip hop artist Maj Toure toured the country, he kept hearing the same stories of African-Americans facing gun charges because they didn’t know they were supposed to, for example, have a concealed carry permit.
Those stories and others about convicted felons having gun rights revoked prompted Toure, of Philadephia, to create the grass-roots organization Black Guns Matter and take his message of gun rights and firearms education to African-American communities all over. That includes Chicago, where he’s spending a month doing outreach and a training session this weekend.
— Read on www.google.com/amp/www.chicagotribune.com/news/local/breaking/ct-met-black-guns-matter-event-20180517-story,amp.html
— Read on www.iambeyondlavish.com/
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Most Americans spend their lives working for others, paying off debts to others and performing tasks that others tell them that they “must” do… we work our fingers to the bone to pay off these debts, and the vast majority of us are not even working for ourselves. Instead, our work makes the businesses that other people own more profitable.
So if we spend the best years of our lives building businesses for others, servicing debts that we owe to others and making others wealthier, what does that make us? In 2015, the words “servant” and “slave” have very negative connotations, and we typically don’t use them very much.
Instead, we use words like “employee” because they make us feel so much better. But is there really that much of a difference? Yes, most of us might not be “legal property” of someone else in a very narrow sense, but in a broader sense we all have to answer to someone.
We all have someone that we must obey. And we all have obligations that we must meet or else face the consequences. Perhaps you don’t think that any of this applies to you personally.
Well, if someone came up to you and asked you what you truly own, what would you say? Because if you don’t OWN LAND, you don’t own anything!!
We Get Money…🗣Because We’re Held To!