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Republicans Love Handouts Until Black People Benefit From Them

RayGravesGhost

Bull Gator
Jun 13, 2021
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https://www.yahoo.com/lifestyle/republicans-love-handouts-until-black-180700713.html
Republicans Love Handouts Until Black People Benefit From Them
Murjani Rawls
Fri, August 26, 2022 at 2:07 PM·3 min read

Like many of Black Americans, I had to take out loans to pay for college. More than 57% of Black people have received a pell grant (and more than 75% of students attending HBCUs). It’s America’s catch-22, where you need education to find employment to live comfortably. However, if you don’t have the wealth to pay for it, you’ll end up working to pay that off for the rest of your working career. For Black people, that means paying off a mortgage worth of debt while not even having a house.

This is why the Biden administration’s move to forgive up to $20,000 in Pell Grant debt and cap payments at 5% of a person’s income will help Black Americans across the country who have been bogged down financially. Now, families might be able to put more towards savings, buy a house or a car, and pay down other debts. But of course, Republican lawmakers couldn’t wait to demonize this move.

A key suppression tactic by Republicans is romanticizing struggle. Since the Biden administration announced their student loan forgiveness plan, Republicans have flooded the internet telling old stories about how their grandfather had to work at the steel mill for years to pay for college. This is without mentioning tuition, and the cost of living was much cheaper back then.

Most of their anger stems from a belief that has progressed throughout American history. As long as you work hard, you’ll eventually become rich and famous. We know this is not true, especially with the socio-economic racism and prejudices Black people endured. The government decides to help minorities once, and Republicans want to fix their faces and rally against “handouts.” Just like the term “woke” has been co-opted with racist intentions, help has now turned into “handouts.”

They were quiet when they received thousands of dollars in PPP loans which were later forgiven with no strings attached. (Thankfully, people have been calling them out on it.) Only 49% of Black businesses who applied for those loans got approved. Republicans don’t have anything to say about the Trump tax cuts where 60% percent of tax savings went to the top 20% of the income ladder. Let’s not even get started on how many times we’ve given “handouts” to the airline and banking industries only for them to lay off workers. But, no, Black people receiving financial help is the straw that breaks the camel’s back.

So, what’s the Republican plan to help the millions of people who have to pay down student debt and fight unfair interest rates? I’ll save you some time – they don’t have one. If anything, they will try to make people feel guilty that the government is doing what it’s supposed to do while taking from it themselves. There is no shared benefit to sitting back and allowing future generations to struggle as you may have. Black families through generations know this, and the world should, too.
 
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https://www.yahoo.com/news/secret-recovers-286m-stolen-pandemic-143229853.html
Secret Service recovers $286M in stolen pandemic loans
FATIMA HUSSEIN
Fri, August 26, 2022 at 10:32 AM·2 min read

WASHINGTON (AP) — The U.S. Secret Service said Friday that it has recovered $286 million in fraudulently obtained pandemic loans and is returning the money to the Small Business Administration.

The Secret Service said an investigation initiated by its Orlando office found that alleged conspirators submitted Economic Injury Disaster Loan applications by using fake or stolen employment and personal information and used an online bank, Green Dot, to conceal and move their criminal proceeds.

The agency worked with Green Dot to identify roughly 15,000 accounts and seize $286 million connected to the accounts.

“This forfeiture effort and those to come are a direct and necessary response to the unprecedented size and scope of pandemic relief fraud," said Kevin Chambers, director for COVID-19 fraud enforcement at the Justice Department.

Billions have been fraudulently claimed through various pandemic relief programs — including Paycheck Protection Program loans, unemployment insurance and others that were rolled out in the midst of the worldwide pandemic that shutdown global economies for months.

In March, the Government Accountability Office reported that while agencies were able to distribute COVID-19 relief funds quickly, “the tradeoff was that they did not have systems in place to prevent and identify payment errors and fraud" due in part to “financial management weaknesses.”

As a result, the GAO has recommended several measures for agencies to prevent pandemic program fraud in the future, including better reporting on their fraud risk management efforts.

Since 2020, the Secret Service initiated more than 3,850 pandemic related fraud investigations, seized over $1.4 billion in fraudulently obtained funds and helped to return $2.3 billion to state unemployment insurance programs.

The latest seizure included a collaboration of efforts between Secret Service, the SBA's Inspector General, DOJ and other offices.

Hannibal “Mike” Ware, the Small Business Administration's inspector general, said the joint investigations will continue "to ensure that taxpayer dollars obtained through fraudulent means will be returned to taxpayers and fraudsters involved face justice.”
 
https://www.yahoo.com/lifestyle/republicans-love-handouts-until-black-180700713.html
Republicans Love Handouts Until Black People Benefit From Them
Murjani Rawls
Fri, August 26, 2022 at 2:07 PM·3 min read

So, what’s the Republican plan to help the millions of people who have to pay down student debt and fight unfair interest rates? I’ll save you some time – they don’t have one. If anything, they will try to make people feel guilty that the government is doing what it’s supposed to do while taking from it themselves. There is no shared benefit to sitting back and allowing future generations to struggle as you may have. Black families through generations know this, and the world should, too.
Utter horseshit.

If you can't afford to pay it back, don't take out a loan in the first place. This is racist as hell and infantilizes Black Americans.

"You gonna pay what you owe! " --Huey Freeman
 
Utter horseshit.

If you can't afford to pay it back, don't take out a loan in the first place. This is racist as hell and infantilizes Black Americans.

"You gonna pay what you owe! " --Huey Freeman
You mean like those millions of dollars of loans that The Trump Organization has defaulted on? Like those?

 
Fa8iJ3EVQAAjOdj
 
You mean like those millions of dollars of loans that The Trump Organization has defaulted on? Like those?

Apples and oranges my friend.

Do I think the student loan industry is predatory as hell? Yes!

I still think that unless you signed the paperwork at gunpoint, you were fully cognizant of what you were getting into.

Race has no bearing on it.

edited:

Additionally, to paraphrase Chris Rock, because he's effed up that means it's OK for everyone else to be effed up too?

Let me state categorically that who ever you are, if you signed a contract to repay a loan, you should pay it back, no matter who you are.

If you can find a post where I've ever defended Trumps shady business dealings, The Trump Foundation, Trump University or his multiple bankruptcies, I'd like to see it. I am not a water carrier for him or the GOP.
 
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Apples and oranges my friend.

Do I think the student loan industry is predatory as hell? Yes?

I still think that unless you signed the paperwork at gunpoint, you were fully cognizant of what you were getting into.

Race has no bearing on it.

Then you don't understand the history of student lending in this country
But if it makes you feel better to say race has no bearing...OK

Just realize the facts say otherwise

https://www.aclu.org/news/racial-ju...sue-heres-what-president-biden-can-do-to-help

To understand the systemic issues rooted in the student debt crisis, we must start with its history. Though we have normalized the idea that students must take on debt for college, historically students benefited from broad public investment in higher education. However, not all students benefited equally: Black students had little access to GI Bill benefits and, even a decade after Brown v. Board of Education (1954), predominately white institutions (PWIs) in many states resisted integration and equal treatment. Further, state and federal governments continued to inadequately and inequitably fund historically Black colleges and universities (HBCUs) despite the high-quality opportunities they provided and the critical function they performed for Black students and communities.

This created and cemented the racial wealth and resource gap in institutions of higher education.

It was in this context that Congress and President Lyndon B. Johnson passed the Higher Education Act of 1965. Recognizing the value of broad higher education access, Johnson hoped the legislation would open the doors of opportunity to everyone, especially Black students and other students of color, through Pell Grants and other subsidies.

Yet by the end of the 20th century, just as Black and Brown students and women gained entry after decades-long legal battles and social struggles, reactionary policymakers shifted the significant costs of higher education from the public to individual families. What had been considered a public good when it was predominantly for white men, became a public burden to be shifted to families.

This shift away from public financing, which accelerated after the Great Recession, led to predictable and damaging results: Today the cost of higher education is beyond imagination. It is out of reach for most families, especially Black and Brown students, unless they agree to unsustainable debt. In effect, we are perpetuating the ugly legacy of redlining and housing discrimination by requiring the same Black families that were historically denied wealth to take on a greater debt burden than their white peers.

The student debt crisis is just one of the latest iterations in the long and shameful history of too many unkept promises to Black and Brown communities. This country didn’t keep its promise to give formerly enslaved people the land that they worked on to build wealth following the Civil War. Then from redlining, inaccessible GI benefits, and now the decreased value of college degrees, Black people have continuously had the roads to economic success blocked outright.
 
Then you don't understand the history of student lending in this country
But if it makes you feel better to say race has no bearing...OK

Just realize the facts say otherwise

https://www.aclu.org/news/racial-ju...sue-heres-what-president-biden-can-do-to-help

To understand the systemic issues rooted in the student debt crisis, we must start with its history. Though we have normalized the idea that students must take on debt for college, historically students benefited from broad public investment in higher education. However, not all students benefited equally: Black students had little access to GI Bill benefits and, even a decade after Brown v. Board of Education (1954), predominately white institutions (PWIs) in many states resisted integration and equal treatment. Further, state and federal governments continued to inadequately and inequitably fund historically Black colleges and universities (HBCUs) despite the high-quality opportunities they provided and the critical function they performed for Black students and communities.

This created and cemented the racial wealth and resource gap in institutions of higher education.

It was in this context that Congress and President Lyndon B. Johnson passed the Higher Education Act of 1965. Recognizing the value of broad higher education access, Johnson hoped the legislation would open the doors of opportunity to everyone, especially Black students and other students of color, through Pell Grants and other subsidies.

Yet by the end of the 20th century, just as Black and Brown students and women gained entry after decades-long legal battles and social struggles, reactionary policymakers shifted the significant costs of higher education from the public to individual families. What had been considered a public good when it was predominantly for white men, became a public burden to be shifted to families.

This shift away from public financing, which accelerated after the Great Recession, led to predictable and damaging results: Today the cost of higher education is beyond imagination. It is out of reach for most families, especially Black and Brown students, unless they agree to unsustainable debt. In effect, we are perpetuating the ugly legacy of redlining and housing discrimination by requiring the same Black families that were historically denied wealth to take on a greater debt burden than their white peers.

The student debt crisis is just one of the latest iterations in the long and shameful history of too many unkept promises to Black and Brown communities. This country didn’t keep its promise to give formerly enslaved people the land that they worked on to build wealth following the Civil War. Then from redlining, inaccessible GI benefits, and now the decreased value of college degrees, Black people have continuously had the roads to economic success blocked outright.
Sweet baby Jesus Ray, just link the article and quote the relevant portion.

Did you miss the part where I said the industry is predatory?

Unless I missed the special black people clause, that applies to everyone.
 
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Sweet baby Jesus Ray, just link the article and quote the relevant portion.

That's what was done....that's not close to the entire article 🤣

Did you miss the part where I said the industry is predatory?

Unless I missed the special black people clause, that applies to everyone.

Predatory only applies if everyone is harmed?

What about redlining? Was that predatory?
It benefitted white people. Did it benefit anyone who was black?

Is this the sort of "black people clause" you're looking for?

https://www.yahoo.com/news/home-appraised-black-owner-472-183701711.html
Home Appraised With a Black Owner: $472,000. With a White Owner: $750,000.
Debra Kamin
August 18, 2022·8 min read

Last summer, Nathan Connolly and his wife, Shani Mott, welcomed an appraiser into their house in Baltimore, hoping to take advantage of historically low interest rates and refinance their mortgage.

They believed that their house — improved with a new $5,000 tankless water heater and $35,000 in other renovations — was worth much more than the $450,000 that they paid for it in 2017. Home prices have been on the rise nationwide since the pandemic; in Baltimore, they have gone up 42% in the past five years, according to Zillow.com.

But 20/20 Valuations, a Maryland appraisal company, put the home’s value at $472,000, and in turn, loanDepot, a mortgage lender, denied the couple a refinance loan.


Connolly said he knew why: He, his wife and three children, ages 15, 12 and 9, are Black. A professor of history at Johns Hopkins University, Connolly is an expert on redlining and the legacy of white supremacy in American cities, and much of his research focuses on the role of race in the housing market.

Months after that first appraisal, the couple applied for another refinance loan, removed family photos and had a white male colleague — another Johns Hopkins professor — stand in for them. The second appraiser valued the house at $750,000.

This week, Connolly and Mott sued loanDepot, which is based in Foothill Ranch, California, as well as 20/20 Valuations and Shane Lanham, the owner of 20/20 Valuations. Lanham conducted the first appraisal.

“We were clearly aware of appraisal discrimination,” said Connolly, 44. “But to be told in so many words that our presence and the life we’ve built in our home brings the property value down? It’s an absolute gut punch.”

The home appraisal industry, which relies partly on subjective opinions to translate home values into dollars and cents, has faced a firestorm of criticism over the past two years.

More than 97% of home appraisers are white, according to the Bureau of Labor Statistics, and since summer 2020, when conversations on race and discrimination in America rose to the forefront after the murder of George Floyd, dozens of Black homeowners have alleged discrimination in the home valuations they received. Some have filed lawsuits, and the Biden administration in March announced a set of planned reforms to overhaul the appraisal industry and dismantle systemic bias.
 
That's what was done....that's not close to the entire article 🤣



Predatory only applies if everyone is harmed?
Don't be obtuse. The student loan industry is predatory. That applies to everyone, regardless of race, unless there's a portion of the insurance manual that specifically screws over people of color.

What about redlining? Was that predatory?
It benefitted white people. Did it benefit anyone who was black?

How do you figure that since it applies to people who went to community college or Hispanic serving institutions as well as hbcs?
Is this the sort of "black people clause" you're looking for?

https://www.yahoo.com/news/home-appraised-black-owner-472-183701711.html
Home Appraised With a Black Owner: $472,000. With a White Owner: $750,000.
Debra Kamin
August 18, 2022·8 min read
We aren't talking about this, we're talking about student loans. Quit moving the goalposts.
 
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Don't be obtuse. The student loan industry is predatory. That applies to everyone, regardless of race, unless there's a portion of the insurance manual that specifically screws over people of color.



How do you figure that since it applies to people who went to community college or Hispanic serving institutions as well as hbcs?

We aren't talking about this, we're talking about student loans. Quit moving the goalposts.
Where GatorshimesSubParMember fails miserably? Getting through to the board's slow is completely beyond his reach.
 
Don't be obtuse. The student loan industry is predatory. That applies to everyone, regardless of race, unless there's a portion of the insurance manual that specifically screws over people of color.

So that means there's no predatory behavior specifically based on race, gender, or ethnicity?

You don't need a manual to screw people over...you just have to have personal bias
Hence the example of home appraisals I linked


How do you figure that since it applies to people who went to community college or Hispanic serving institutions as well as hbcs?

Redlining was provided as an example for something that was targeted...not at everybody but a specific group.

Are you saying that since redlining wasn't directed at everybody it isn't "predatory" in your estimation?

Talk about being purposely "obtuse" :rolleyes:


We aren't talking about this, we're talking about student loans. Quit moving the goalposts.

Moving goalposts? 🤣

Read the article...home appraisals are at the core of the lending process

You keep looking for "manuals" but as you can see racial discrimination occurs just from personal bias as the article clearly shows.

But there's ample studies that specifically speak to the racial discrimination in student loan lending

https://www.theregreview.org/2021/0...gulating-student-loans-promote-racial-equity/
  • In an article for the Consumer Finance Law Quarterly Report, Katherine Welbeck of the Student Borrower Protection Center explains how student loan servicers contribute to the repayment gap between Black and Latinx borrowers and other borrowers. Emerging research suggests that about 11 percent of the default payment gap stems from student loan servicers failing to uphold their responsibility of helping borrowers access a range of protections to mitigate the economic consequences of student debt. Welbeck calls on policymakers to establish a data collection model to increase transparency and provide further tools for officials and litigants. Welbeck also recommends several legal approaches to remedy the disparate outcomes in student loan servicing.

  • Suzanne Kahn of the Roosevelt Institute, Mark Huelsman of the Hope Center for College, Community and Justice, and Jen Mishory of The Century Foundation explain in a jointly issued report how race-neutral policy assumptions by U.S. policymakers lead to a U.S. education system in which debt financing in higher education contributes to racial wealth inequalities. Student loans are “both more necessary and riskier for Black families than for white families,” Kahn, Huelsman, and Mishory find. They urge policymakers to reduce college tuition, address segregation and racial disparities in enrollment and completion rates, take action against predatory for-profit schools, and cancel at least some student debt. They note, however, that the higher education system cannot be equitable as long as access to higher education requires large individual loans.

  • In a recent case study, the Student Borrower Protection Center highlights the negative effects of income share agreements (ISAs) on borrowers of color. ISAs, through which students pledge a portion of their future income in exchange for tuition dollars, perpetuate “educational redlining.” ISAs disproportionately harm students of color because lenders price them based on the school and program a student chooses to attend—two factors that proxy for a student’s race. Although the higher education financing industry insists that ISAs fall outside of traditional student loan oversight, the Student Borrower Protection Center argues that the agreements resemble student loans to the point that standard regulation and enforcement should apply.
 
So that means there's no predatory behavior specifically based on race, gender, or ethnicity?

You don't need a manual to screw people over...you just have to have personal bias
Hence the example of home appraisals I linked




Redlining was provided as an example for something that was targeted...not at everybody but a specific group.

Are you saying that since redlining wasn't directed at everybody it isn't "predatory" in your estimation?

Talk about being purposely "obtuse" :rolleyes:




Moving goalposts? 🤣

Read the article...home appraisals are at the core of the lending process

You keep looking for "manuals" but as you can see racial discrimination occurs just from personal bias as the article clearly shows.

But there's ample studies that specifically speak to the racial discrimination in student loan lending

https://www.theregreview.org/2021/0...gulating-student-loans-promote-racial-equity/
  • In an article for the Consumer Finance Law Quarterly Report, Katherine Welbeck of the Student Borrower Protection Center explains how student loan servicers contribute to the repayment gap between Black and Latinx borrowers and other borrowers. Emerging research suggests that about 11 percent of the default payment gap stems from student loan servicers failing to uphold their responsibility of helping borrowers access a range of protections to mitigate the economic consequences of student debt. Welbeck calls on policymakers to establish a data collection model to increase transparency and provide further tools for officials and litigants. Welbeck also recommends several legal approaches to remedy the disparate outcomes in student loan servicing.

  • Suzanne Kahn of the Roosevelt Institute, Mark Huelsman of the Hope Center for College, Community and Justice, and Jen Mishory of The Century Foundation explain in a jointly issued report how race-neutral policy assumptions by U.S. policymakers lead to a U.S. education system in which debt financing in higher education contributes to racial wealth inequalities. Student loans are “both more necessary and riskier for Black families than for white families,” Kahn, Huelsman, and Mishory find. They urge policymakers to reduce college tuition, address segregation and racial disparities in enrollment and completion rates, take action against predatory for-profit schools, and cancel at least some student debt. They note, however, that the higher education system cannot be equitable as long as access to higher education requires large individual loans.

  • In a recent case study, the Student Borrower Protection Center highlights the negative effects of income share agreements (ISAs) on borrowers of color. ISAs, through which students pledge a portion of their future income in exchange for tuition dollars, perpetuate “educational redlining.” ISAs disproportionately harm students of color because lenders price them based on the school and program a student chooses to attend—two factors that proxy for a student’s race. Although the higher education financing industry insists that ISAs fall outside of traditional student loan oversight, the Student Borrower Protection Center argues that the agreements resemble student loans to the point that standard regulation and enforcement should apply.
We are talking about student loans. Racist/classist/sexist property appraisals are another topic entirely.

Predatory: (adj) inclined or intended to injure or exploit others for personal gain or profit
 
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Does your definition say anything about predatory must exploit all people?

Just hanging on desperately to being obtuse huh?

What do you call this then....non predatory?


https://www.tampabay.com/archive/2008/01/05/lender-to-students-faces-claims-of-discrimination/
LENDER TO STUDENTS FACES CLAIMS OF DISCRIMINATION
Tampa woman: Sallie Mae targets minorities.

By TOM MARSHALL
Published Jan. 5, 2008|Updated Jan. 7, 2008


Battered by investigations and financial woes over the past year, college lending giant Sallie Mae now faces a new challenge: angry minority students.

Tampa student Cathelyn Gregoire is one of two named plaintiffs in a possible class-action lawsuit, accusing the company of "systemic discriminatory practices" in marketing student loans to minority applicants.

The suit, filed Dec. 17 in federal district court in Connecticut, alleges the company violated federal civil rights and lending laws by intentionally targeting higher priced loans to students attending schools with high minority populations.

Martha Holler, a spokeswoman for Sallie Mae, said the company would vigorously defend itself against the "unfounded allegations in this baseless complaint."

But Christa Collins, the attorney going after Sallie Mae, is no rookie.

A managing partner in the Tampa firm of James, Hoyer, Newcomer and Smiljanich, she has made her reputation bringing down large companies accused of discriminatory practices.

Last year she reached a national settlement with Allstate Insurance Co. over allegations of unfair pricing, and in 2002 she reached a $160-million settlement with MetLife Inc.

And Collins said she has plenty of ammunition for her latest case.

"We've been contacted by hundreds of students or former students," she said.

In the lawsuit, Gregoire contends that her former school - the International Academy of Design and Technology in Tampa - applied on her behalf for a Sallie Mae private loan with a 7 percent interest rate in 2003 after she expressed interest in financial aid.

The lender denied her application after a credit review, but later urged her to reapply. In September 2003 it awarded her a $14,276 loan, "which she later found out contained a 6 percent supplemental fee" on top of the regular interest rate of 5.5 percent above prime rate, or 13.25 percent, according to the lawsuit. Her debt has since climbed to around $20,000.

But those terms were not disclosed to Gregoire until after the loan deal was consummated, the lawsuit said, claiming violations of the federal Equal Credit Opportunity Act and the Truth in Lending Act. It said Gregoire, an African-American, was charged higher rates and fees based on her race.

Another plaintiff, Sasha Rodriguez of Branford, Conn., said Sallie Mae is now charging 18.1 percent interest on two loans she took out to attend a New Hampshire college.

At those rates, which she said were concealed by the lender, her initial debt of $19,500 climbed to more than $33,000.

Sallie Mae and other lenders had already been put on notice last summer that their marketing practices to some schools might constitute "redlining" - charging higher rates based on race.

In testimony before Congress, New York Attorney General Andrew Cuomo said some lenders assign schools an interest rate range based on their overall loan default rate, and then assign specific rates to students based on their credit score.

Last year Cuomo led a spate of state and federal investigations into unethical or illegal lending practices at U.S. colleges.

Dozens of schools and lenders, including Sallie Mae, have signed on to a New York code of conduct and paid $13.7-million into a fund to educate students about financial aid.


And last month Florida Attorney General Bill McCollum unveiled his own code, saying he would use it to push for higher lending standards here.

Sallie Mae, the nation's largest student lender, manages around $160-billion in student loans.

While much of its business revolves around federally backed loans, the company recently said lower federal subsidies have prompted it to market its so-called private loans more aggressively. Those loans, around 17 percent of its portfolio according to the Wall Street Journal, are typically more expensive.

The company is also in court over the collapse of a $25-billion takeover effort by a group of investors including J.C. Flowers & Co., JPMorgan Chase and Bank of America.

That buyout fell apart last fall, a casualty of the increased congressional scrutiny into federal student lending and the slumping credit market. But in October, Sallie Mae sued its would-be owners to collect a $900-million deal termination fee.
 
If it exploits someone for personal gain or profit, it is predatory. Full stop.

You inability to concede a point, EVER, is perplexing.

So exploitation of of a particular group of student borrowers based on their race has verifiably occurred. Fact no doubt about it.

So what was you're point again about race having nothing to do with it?
 
this isnt a partisan or racial issue, all of you guys like your stimi, all of you. you simply dont like it when you think somebody else is getting some that youre not.
 
Then you don't understand the history of student lending in this country
But if it makes you feel better to say race has no bearing...OK
This is just an excuse for lazy, below average people who want things given to them, instead of working for them like Americans do, son. You are obviously a "participation trophy" lover. I would have known that about you from day ONE. Your outlook is such an insult to hard working, REAL American black people.
 
So exploitation of of a particular group of student borrowers based on their race has verifiably occurred. Fact no doubt about it.
No. All students are being victimized by the student loan industry. Unless you can prove that black people get higher interest rates or something obvious, there is no proof that they are being singled out. I have already explained to you that redlining isn't exclusive to black people.

So what was you're point again about race having nothing to do with it?
See above.
 
This is just an excuse for lazy, below average people who want things given to them, instead of working for them like Americans do, son. You are obviously a "participation trophy" lover. I would have known that about you from day ONE. Your outlook is such an insult to hard working, REAL American black people.

ron is a your typical white supremacist racist
Don't be so hard on all of those lazy white people benefitting from loan forgiveness


https://www.cbsnews.com/philadelphia/news/student-loan-debt-cancellation-president-joe-biden/

Forgiveness by race​


Chingos' model found that 62% of the canceled student loan dollars would go to White borrowers while 25% would go to Black borrowers if Biden canceled up to $10,000 for those earning less than $125,000 a year.
 
No. All students are being victimized by the student loan industry. Unless you can prove that black people get higher interest rates or something obvious, there is no proof that they are being singled out. I have already explained to you that redlining isn't exclusive to black people.


See above.

Read the article
Non-white borrowers were being charged higher interest rates

Sallie Mae and other lenders had already been put on notice last summer that their marketing practices to some schools might constitute "redlining" - charging higher rates based on race.



The case was "won" by those women and led to loan forgiveness that we've seen under Obama & Biden.

That's why Corinthian & ITT and other "for profit" schools have gone out of business

Are you really ignorant of what's occurred or are you being obtuse on purpose?

ob·tuse
/əbˈt(y)o͞os,äbˈt(y)o͞os/
Learn to pronounce
adjective

  1. 1.
    annoyingly insensitive or slow to understand.
    "he wondered if the doctor was being deliberately obtuse"
 
OK my wife wants to go shopping, so this is the last I'm going to comment.

I read all your long winded articles and my take on them is as usual, the loan industry is taking advantage of low income people with less than sterling credit. They happen to be people of color.
 
Read the article
Non-white borrowers were being charged higher interest rates

The case was "won" by those women and led to loan forgiveness that we've seen under Obama & Biden.

That's why Corinthian & ITT and other "for profit" schools have gone out of business

Are you really ignorant of what's occurred or are you being obtuse on purpose?

ob·tuse
/əbˈt(y)o͞os,äbˈt(y)o͞os/
Learn to pronounce
adjective

  1. 1.
    annoyingly insensitive or slow to understand.
    "he wondered if the doctor was being deliberately obtuse"
so rates are largely determined on credit, credit may or may not affect non whites more but i dont think its the reason rates are higher, those "colleges" you mention are not worth a lot, i, myself, would not lend on that degree for less than 30% a year. not because of color more the degree isnt worth shit, kind of like an FSU degree...
 
?


In December 2007, a class action lawsuit was brought against Sallie Mae in a Connecticut federal court[38] alleging that the company discriminated against African American and Hispanic private student loan applicants by charging them high interest rates and fees. The lawsuit also alleged that Sallie Mae failed to properly disclose private student loan terms to unsuspecting students. New York Attorney General Andrew Cuomo, raised similar concerns about possible student loan redlining in June 2007.[39]

The lawsuit was settled and dismissed in 2011. Under the terms of the settlement, Sallie Mae agreed to make a $500,000 donation to the United Negro College Fund[40] and the attorneys for the plaintiffs received $1.8 million in attorneys' fees.[41]


In February 2007, New York Attorney General Andrew Cuomo launched an investigation into alleged deceptive lending practices by student loan providers, including The College Board, EduCap, Nelnet, Citibank, and Sallie Mae.[34]

On April 11, 2007, Cuomo ended his investigation of Sallie Mae and announced that Sallie Mae had voluntarily agreed to change its lending standards to satisfy a new code of conduct for student loan practices established by Cuomo, and to donate $2 million (USD) to a fund devoted to educating college-bound students about their loan options.[35][36]
 
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OK my wife wants to go shopping, so this is the last I'm going to comment.

I read all your long winded articles and my take on them is as usual, the loan industry is taking advantage of low income people with less than sterling credit. They happen to be people of color.

Go shopping...

Your argument is even losing a case in court doesn't prove racial discrimination occurred.

Nothing like believing in the Rule of Law, huh?
 
Go shopping...

Your argument is even losing a case in court doesn't prove racial discrimination occurred.

Nothing like believing in the Rule of Law, huh?
Have it your way Ray, America hates black people.

Also, I'm not racist, I have a lot of black friends and Obama is clean and articulate.

Give a man a gun and he can rob a bank.
Give a man a bank, he can rob the world.
 
Have it your way Ray, America hates black people.

I said America hates black people?
(Pssst "America" is black people too...)

Gatorshimes resorts to being "obtuse" when losing an argument

Also, I'm not racist, I have a lot of black friends and Obama is clean and articulate.

Give a man a gun and he can rob a bank.
Give a man a bank, he can rob the world.

Did I say you were a racist?

I think you can't admit that race has been..and still is...a factor in ALL lending


Don't move "goalposts"...
 
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