Thursday, September 26, 2024

What went wrong with federal student loans? [ Brookings Institution ]

The title:
What went wrong with federal student loans? 

The abstract:
At a time when the returns to college and graduate school are at historic highs, why do so many students struggle with their student loans? The increase in aggregate student debt and the struggles of today’s student loan borrowers can be traced to changes in federal policies intended to broaden access to federal aid and educational opportunities which increased enrollment and borrowing in higher-risk circumstances. Starting in the late 1990s, policymakers weakened regulations that had constrained institutions from enrolling aid-dependent students. This led to rising enrollment of relatively disadvantaged students, but the increase was primarily at poor-performing, low-value institutions whose students systematically failed to complete a degree, struggled to repay their loans, defaulted at high rates, and foundered in the job market. As these new borrowers experienced similarly poor outcomes, their loans piled up, loan performance deteriorated, and with it the finances of the federal program. The crisis illustrates the important role that educational institutions play in access to postsecondary education and student outcomes as well as the difficulty of using broadly-available loans to subsidize investments in education when there is so much heterogeneity in outcomes across institutions and programs and in the ability to repay of students. . . . 

The authors:

The report:
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Wednesday, September 11, 2024

Why a ruling against the Internet Archive threatens the future of America’s libraries [ MIT Technology Review ]

The flava:
I was raised in the 1980s and ’90s, and for my generation and generations before us, the public library was an equalizing force in every town, helping anyone move toward the American dream. In Chantilly, Virginia, where I grew up, it didn’t matter if you didn’t have a computer or your parents lacked infinite money for tutors—you could get a lifetime's education for free at the public library. A ruling from the US Second Circuit against the Internet Archive and in favor of publisher Hachette has just thrown that promise of equality into doubt by limiting libraries’ access to digital lending.

To understand why this is so important to the future of libraries, you first have to understand the dire state of library e-book lending. . . .  

The article: