Income Contingent Loans - Free Essay Example

Income Contingent Loans Can Solve the Student Loan Debt Crisis Students in the US are currently drowning in student loan debt. One recent study found that the majority of American borrowers, 56% of them struggle with paying their student loan payments in the first five years after college.(Paragraph 12) Finding a solution to the problem will help millions of students. This US should adopt income contingent loans to solve the student loan debt crisis. Imagine yourself being fresh out of college, wondering what you are going to do next. What would your plan be? In America young adults have fewer opportunities to land a good paying job without an education. Students believe that after graduating college that they will land an awesome paying job and things will be great. This is usually not the case, entry level paying jobs pay much less than what students expect. Students then end up in defaulting in their student loans. In Britain, by contrast, 98% of their borrowers are meeting their obligations (Paragraph 12) to their income contingent loans. These loans are simple for students. The payments are at a fixed percentage of the borrowers income, The IRS then automatically deducts payments from the students paychecks. Since income contingent loans go by the students income the students with lower paying jobs below poverty level end up paying little to nothing. Students with higher paying jobs and up paying more to paying off their loans quicker. After 20 to 30 years of a loan not being paid the student loan is forgiven. In Britain and Australia they have proven that income contingent loans have worked for their students for many years. This idea was proposed by and noble prize winning economist Milton Friedman back in 1955. One might wonder why they dont already exists. Historically, administrative complications had been the major culprit. Until last year, the federal government managed most student loans by paying private banks to act as Linders and then guaranteeing their losses. (Paragraph 8) The problem arises when students sign on the dotted line, they dont realize that the consequences of all the debt will affect them the rest of their lives. These students end up not being able to pay their student loans, causing them to go into default along with paying late fees and extra interest. Going into default means that the students credit is decreasing month by month as it is in default. Students begin to get married and have children they are looking into buying houses and new cars, this then becomes an issue due to their student loans being in default for so long. Because student loans can almost never be discharged in bankruptcy, default in loans can hunt students for a lifetime. (Paragraph 13) If not paid off before retiring this can result in garnishment of Social Security checks to make good on defaulted student loans. The student loan debt crisis cant be solved with income contingent loans. this week the US erased $13 million of unpaid tuition receivables belonging to 9438 people associated with Everest college a Corinthian subsidiary. (Taylor) Nobody ever defaults on a federal student loan ever again. The whole concept of Default is expunged from the system. (Para. 5) Income contingent loans are extremely simple. They are the easiest way to pay back student loans. This allows student to be able to buy cars, houses and live a quality life. Students wouldnt have to worry about receiving 10 calls a night from creditors haseling them to have to pay money back. people unlucky enough to graduate during the horrible recessions or even more likely to have bad jobs or no jobs and struggle paying back their loans. (Paragraph 3) The students who want to enter low paying jobs such a teacher, or social work would no longer have to worry about unimaginable student debt. With this being said the republicans and democrats both agree that income contingent loans are a great idea, helping students with loans debts. This isnt a political issue this is a human issue that all political sides agree upon. It is true that students who pay over long periods of time with pay more interest and that the taxpayers will bear the cost of partially forgiven loans. But, under the current system the federal government is already eating the cost of defaulted loans, and low income students who cant repay loans are often hit with fines and penalties that dwarf the cost of extra interest. (Paragraph 10) Even though they may be simple, with the government controlling the loans, it is hard for student to meet all the requirements such as different rates, terms, lenders and consolidation options. While trying to solve the student loan crisis, the prices of community and university colleges are still on the rise and dont plan to drop any time soon. But this does provide an outlet to paying back student loans. The millions of young people today, who owe over $1 trillion in loans, may want to consider my example (Siegel) I believe that income contingent loans will solve the student loan crisis for all Americans. When it is based on the students income the student loans will never be an issue. Even students below poverty will never have to suffer from their student loan debt. Student will no longer have to deal with the annoying collection phone calls that threaten people with up to 10 phone calls a night. People will be free of debt and more open to purchasing houses and homes helping the economy be better for everyone. Students will no longer have to be haunted by default of loans. Income contingent loans are just one way to help students be debt free and in helping our government by not having to write off defaulted loans.

Stakeholder Capitalism Vs. Shareholder Capitalism

American society has changed since the 1940s, one of the major changes in American society was the use of capitalism since the last couple of decades. There were two separate types or levels of capitalism that were used in American society, which was capitalism 2.0 and capitalism 3.0. In the 1940s the beginning of capitalism 2.0 otherwise known as stakeholder capitalism. Stakeholder capitalism is basically a market system that the companies only treat the interests of major stakeholders equally, rather than favoring the investors. The second use of capitalism is capitalism 3.0 otherwise known as shareholder capitalism, which started off in the early 1980s. Shareholder capitalism is to be able to maximize the value of the corporation’s†¦show more content†¦According to her temp work is worse off than the minimum wage. Temp work is when companies help save money, they would hire temp workers for years. They do it because it is cheaper than hiring labor directly, and the y have the right to do so. The main point of a temp worker is supposed to get a permanent job status, but when they are hired by such companies after they are unemployed for three weeks in the same job, they would get hired again by the same company that fired them. This situation relates towards the book Our Kids: The American Dream in Crisis by Robert D. Putnam. In this book, Putnam also talks about the factory owners in his home town and how they also hired temp workers from Putnam home town. Because of the hiring of temp workers, a lot of people were left unemployed, as a result of 55 percent of all jobs in 1965 to 25 percent in 1995 and the rate keeps on falling for employed workers. The unemployment rate rose and fell with the national tides during stakeholder capitalism. During the 2.0 capitalist era, the American economy including capital gains and excluding capital gains was at an all-time low during the great depression and starting the second world war. In shareholder, capitalism corporations are there solely for the only purpose of the investors, that the managers only serve as agents. In this type of capitalism, only short-term profits are the goal, which a company can start laying off workers instead of retraining orShow MoreRelatedTexas Instruments in South Korea1347 Words   |  6 Pagessuccessful outcomes. Using a voice and exit approach to governing this initiate can help with identifying the opportunities that motivate employees to achieve desired outcomes. The concept of shareholder capitalism will be introduced as a way to explain how CEO’s can facilitate communication with various stakeholders. This approach will facilitate better decision making as more available information is used to determine strategy actions. This assessment will conclude with a discussion of CSR and itsRead MoreThe Meaning of Work2155 Words   |  9 Pages255). They are not forced upon us and one should be accepting of them as their def ined roles within the corporation. Underneath a stakeholder model of social responsibility, the magnitude of customers as a main driver of long-standing business success is greatly highlighted. This generates a variance, at times, flanked by management and shareholders. Shareholders in essence want the company to focus on maximizing profits. Do not miss understand company leaders want this, as well, however; theyRead MoreShareholder Wealth Maximization And Corporate Social Responsibility Theories1955 Words   |  8 Pages Examining Globalization From The Viewpoints Of Shareholder Wealth maximization And Corporate Social Responsibility Theories â€Å"Sell a stock rather than try to change the company’s policy.† Introduction Are the goals of globalization, the primary driving force for international economic and financial development, best supported by the paradigms of shareholder wealth maximization or do they match the ideas of corporate social welfare as exemplified by Catholic social teaching? Globalization inRead MoreStakeholders and Shareholders Debate4838 Words   |  20 PagesThe Shareholders vs. Stakeholders Debate T he stakeholder theorists smell blood. Scandals at Enron, Global Crossing, ImClone, Tyco International and WorldCom, concerns about the independence of accountants who are charged with auditing financial statements, and questions about the incentive schema and investor recommendations at Credit Suisse First Boston and iMerrill Lynch have all provided rich fodder for those who question the premise of shareholder supremacy. Many observers have claimed thatRead MoreMultinational Corporations ( Mncs ) Role2182 Words   |  9 Pagesoperations and next is the Ethical issues how far the business is following the fair practise and top of is Philanthropy it’s out of their own interest. The company uses its own discretionary powers to decide upon the activities. This is the point where stakeholders want the MNCs to work more responsible than the statutory requirement. The MNCs should me more responsible than the governments in maintaining ethics in their global operations. The companies are to be made accountable, the society consists ofRead MoreIpa Cheat Sheet2143 Words   |  9 Pagessystem with external audits. IPA 5: STATE STRUCTURES 3: VARIETIES OF CAPITALISM Economic convergence does not mean institutional convergence. Institutions of capitalism are socially embedded and a product of societal preferences. Coordinated Market Economics: LT focus: Labour and capital immobile. Liberal Market Economics: ST focus: Labour capital mobile. Key differences of institutional differences across types of capitalism: ï‚ · Financial capital, Human capital, Ownership, Networks, ManagementRead MoreCase Study of Bill Gates1348 Words   |  6 Pagesthat make are heavily scrutinized and envied by the majority. Bill Gates is an exception to the average college drop out. We must all learn to work smarter and not harder. WHAT IS THE MAJOR OVERRIDING ISSUE IN THE CASE? Is American Capitalism Moral or Immoral? WHAT MAJOR QUESTION OR ISSUES DOES THIS CASE ADDRESS THAT MERITS STUDY AT THIS POINT IN THE COURSE? *Is it fair that Bill Gates gets all of the wealth and riches while the majority of citizens live far below the poverty lineRead MoreMr. Zaboschuk2296 Words   |  10 Pagescan benefit stakeholders into an integrated system that rewards employees, middle managers, executives and shareholders towards the common goal of creating value for the firm. It seems that traditional compensation systems (based on traditional accounting measures like profit, cash flow, ROI) can miss the mark on the true performance of a corporation over the long term. Stern and Steward have proposed EVA compensation systems that, in theory, should provide alignment for all stakeholders. I will nowRead MoreCorporate Social Responsibility2536 Words   |  11 Pagesan essential part of business language. Definitions of CSR have became more specific; since the 70s, with alternative emphases, being placed on issues such as the understanding of corporate citizenship (which is a key concept of CSR), and the stakeho lder theory. In early writings CSR was referred to more often as social responsibility (SR) rather than as CSR. Bowen (1953: 6) set forth an initial definition of the social responsibility: It refers to the obligations of businessmen to pursue thoseRead More Corporate Social Responsibility Essay2477 Words   |  10 Pagesan essential part of business language. Definitions of CSR have became more specific; since the 70?s, with alternative emphases, being placed on issues such as the understanding of corporate citizenship (which is a key concept of CSR), and the stakeholder theory. In early writings CSR was referred to more often as social responsibility (SR) rather than as CSR. Bowen (1953: 6) set forth an initial definition of the social responsibility: It refers to the obligations of businessmen to pursue those

Reading Comprehension Strategy, Cause And Effect - 1904 Words

The purpose of this lesson is to introduce students to the reading comprehension strategy, cause and effect. The students will be able to develop a strong understanding of cause and effect by creating personal connections to their daily lives. The students will be able to connect the strategy, cause and effect, to the other elements of a story and strategies that we have worked with this year including character, plot, theme, setting, inferring, and compare and contrast. Common Core State Standards: †¢ CCSS.ELA-LITERACY.RI.5.5: Compare and contrast the overall structure (e.g., chronology, comparison, cause/effect, problem/solution) of events, ideas, concepts, or information in two or more texts. Goals/Objectives of Lesson: What do you hope for/expect? †¢ In a small group setting, students will access prior knowledge of cause and effect by verbally identifying the â€Å"cause and effect† in real life scenarios and videos provided by the teacher. †¢ Students will create and share out their own cause and effect scenarios based on their experiences, they can do this with a partner or independently; the group with identify which is the â€Å"cause† and which is the â€Å"effect.† †¢ When reading a selected chapter from the book, Wonder, students will use a graphic organizer to write at least two cause and effect relationships from the chapter with guidance from the teacher and at least one independently. Context of the Lesson: Where does this lesson fall in what is currently being taught? 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The Use of Colorful Language to Portray Feelings as a Black Male Living in a White Supremacist World in Between the World and Me, a Novel by Ta

The Use of Colorful Language to Portray Feelings as a Black Male Living in a White Supremacist World in Between the World and Me, a Novel by Ta-Nehisi Coates Essay In the novel , Between The World and Me, by Ta-Nehisi Coates he writes to his son about his feelings as a black male living in a white supremacist world. He achieves this through a lot of self reflection and giving his son advice about surviving in the world. Coates uses a lot of colorful language, especially the word â€Å" body† to make sure his message is resonating with his son. Coates uses the word â€Å" body† to explain that there is more to him than being a physical being. The word â€Å" body† is intended to describe the individuality or the soul of a person. The purpose of him using this word in his letter is to tell his son that with his â€Å" body† he is in control of himself and his future. With this, Coates feels that his son will be better prepared for the world when he is older. We will write a custom essay on The Use of Colorful Language to Portray Feelings as a Black Male Living in a White Supremacist World in Between the World and Me, a Novel by Ta-Nehisi Coates specifically for you for only $16.38 $13.9/page Order now In the first few pages of this novel, Coates explains what the word â€Å"body† means to him and how that has portrayed itself in his daily life. In this quote, â€Å" But by now I am accustomed to intelligent people asking about the condition of my body without realizing the nature of their request†¦hearing this , I felt an old and indistinct sadness well up in me. The answer..is American history†¦.a forgiving God and†¦torture, theft, enslavement†¦.the reality of â€Å" race† as a defined the need to ascribe bone deep features and to humiliate, reduce, and destroy them† he is describing that how American history has made itself a legacy after all of what they have done to African Americans in the past and how it has been defining him as an individual. It devastates him that with this on his back weighing him down, people continue to ask him about his body with out â€Å" the nature of their request† ( Coates 7). However, in telling hi s son about this, it is significant because, as bad as it seems, he wants his son to know about their history and to make sure that it stays in the past. Ideally he wants his son to understand that he should not embrace such a negative representation of the African American community, and he should not have that weighing or defining his individuality. Coates also discusses ways how his son should protect his â€Å" body† through means of protection For example, Coate shares a personal anecdote and a personal belief he had all his life. In this quote he shares â€Å"To survive the neighborhoods and shield my body, I learned another language consisting of a basic complement of head nods and handshakes. I memorized a list of prohibited blocks. I learned the smell and feel of fighting weather. †¦ I recall learning these laws clearer than I recall learning my colors and shapes, because these laws were essential to the security of my body† (Coates 23-24). In this quote, Coate is discussing that to feel safe, he has to have an alternative way to do things. Through this he has learned that it is better to live like that to place yourself in something that is safe. This is significant because it touches upon how even before learning the things he needs to as an education requirement, he needed to learn how to survive an d not create even more damage on his already damaged soul. Also in his use of diction it defines a lot of how he has processed these experiences. For example, the word â€Å" language† is a metaphor that describes how he sees this alternative as if he is learning another language. The word â€Å"colors† and â€Å" shapes† discusses the physical ways these â€Å" laws† or standards have partake in his safety. He sees that these shapes and colors were constantly in the back of his mind and sort of controlling how he see things. Due to this, they are clearer to him now and he will not be controlled by them. In the end, Coates discusses this with his son because he wants his son to know that his first priority is learning how to alter his strategies to protect his developing individuality and survive the world before doing what the world wants him to do. .u06bdaaa31a95e958daad9a181204ea59 , .u06bdaaa31a95e958daad9a181204ea59 .postImageUrl , .u06bdaaa31a95e958daad9a181204ea59 .centered-text-area { min-height: 80px; position: relative; } .u06bdaaa31a95e958daad9a181204ea59 , .u06bdaaa31a95e958daad9a181204ea59:hover , .u06bdaaa31a95e958daad9a181204ea59:visited , .u06bdaaa31a95e958daad9a181204ea59:active { border:0!important; } .u06bdaaa31a95e958daad9a181204ea59 .clearfix:after { content: ""; display: table; clear: both; } .u06bdaaa31a95e958daad9a181204ea59 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u06bdaaa31a95e958daad9a181204ea59:active , .u06bdaaa31a95e958daad9a181204ea59:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u06bdaaa31a95e958daad9a181204ea59 .centered-text-area { width: 100%; position: relative ; } .u06bdaaa31a95e958daad9a181204ea59 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u06bdaaa31a95e958daad9a181204ea59 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u06bdaaa31a95e958daad9a181204ea59 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u06bdaaa31a95e958daad9a181204ea59:hover .ctaButton { background-color: #34495E!important; } .u06bdaaa31a95e958daad9a181204ea59 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u06bdaaa31a95e958daad9a181204ea59 .u06bdaaa31a95e958daad9a181204ea59-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u06bdaaa31a95e958daad9a181204ea59:after { content: ""; display: block; clear: both; } READ: How to Reduce Sexual Harassment Essay In addition to his teachings, he understands that his son will not completely understand what he ( Coates) is trying to say and himself. Through this quote â€Å"You have not yet grapples with your own myths and narratives and discovered the plunder everywhere around us† he tells his son that he has not grasp what his own life says about himself and his future and in it he will discover that some experiences will not be the greatest( Coates 21). It is significant because it shows that this is a natural process and to expand on their relationship he needs to be open and honest with his son while he teaches and provides the lesson s he needs to learn. A lot of the words Coates uses in this quote discusses that through his teaching of protecting his â€Å" body† he understands that there will be failure and that this is essential to his son showing growth. The word â€Å" myths† and â€Å" narratives† represents the stories his son will be spoken to, but they are more of a fairytale than reality. He will not understand the meaning outside of reality until he does. When he understand this, he will discover that this shows him the violence and destruction of the world.. With this ,in means of protecting his body, he will be better prepared for the world. In conclusion, Between The World and Me, discusses how the word â€Å" body† teaches that a person is a lot more than what their physical characteristics and history entails. Coates teaches his readers that, through our â€Å"bodies,† we can define ourselves in any way possible and in order to believe in this, we need to do what ever means necessary to protect ourselves from the damages caused by the world. However, as this is in practice, he also explains that this will be trial and error and a lot of growing needs to be done before perfecting this. All in all, this experience is to find one’s individuality and make it their own through one’s voice.