GOOD MORNING.
HELLO YOU SEE HIGH.
I AM ASSEMBLY WOMAN CUTTING
PETRIE-NORRIS REPRESENTING
CALIFORNIA'S SEVENTY FOURTH
ASSEMBLY DISTRICT WHICH IS.
GOING TO BEACH NEWPORT BEACH
HUNTINGTON BEACH COSTA MESA ERIC
IN A WAY.
IRVINE.
AND YOU SEE HIGH.
AND AS THE CHAIR OF THE ASSEMBLY
SELECT COMMITTEE ON STUDENT DEBT.
REALLY HELP REALLY REALLY HAPPY
TO WELCOME ALL OF YOU HERE TODAY
FOR OUR FIRST HEARING.
I WHICH IS LOOKING AT THE
CHANGING FACE AS THE STUDENT
DEBT CRISIS HERE.
IN CALIFORNIA.
BEFORE WE GET STARTED LET ME
JUST SAY A COUPLE OF THANK YOUS
FIRST.
TO OUR HOSTS TODAY THE UCI
SCHOOL OF LAW I THINK YOU SO
MUCH.
FOR IN THIS MAKING THIS HEARING
HAPPEN.
AND I WOULD ALSO LIKE TO THINK
OUR CO HOSTS FOR WORKING SO
CLOSELY WITH ME AND MY OFFICE ON
TODAY'S INFORMATIONAL HEARING.
NEXT GEN POLICY THAT CONSUMER
LOT CLINIC HERE AT UCI.
HI THIS IS SEATED STUDENTS AT
THE UNIVERSITY OF CALIFORNIA AT
IRVINE.
AND DAD PARTICULARLY SONG.
YOUR SENATE PRESIDENT AND
CASSIUS AND YOUR TEAM FOR
HELPING US SPREAD THE WORD ABOUT
THIS ABOUT THIS HEARING.
AND DIE IN ENCOURAGING STUDENTS
TO TAKE PART -- AND I ALSO WANT
ESPECIALLY THINK THAT STUDENTS
AND CURRENT STUDENT BORROWERS
THAT ARE JOINING US TODAY I KNOW
THAT.
YOU ARE JUGGLING SO MUCH EACH
AND EVERY DAY THANK YOU SO MUCH
FOR MAKING TIME. TO TO BE WITH
US AND FOR MAKING TIME TO SHARE
YOUR STORIES.
AS SAD EVERYONE IN THIS ROOM
KNOWS CALIFORNIA IS CONFRONTING
A STUDENT DEBT CRISIS.
IN THE GOLDEN STATE WE HAVE MORE
THAN THREE POINT SEVEN MILLION
BORROWERS.
WHO HAVE MORE THAN A HUNDRED AND
FORTY ONE BILLION DOLLARS IN
DEBT?
AND HALF A MILLION OF THOSE
BORROWERS ARE IN DEFAULT AND
MANY MORE ARE STRUGGLING. FOR
THESE BORROWER IS.
THESE REALLY ARE KITCHEN TABLE
FINANCIAL ISSUES FRAN DECIDING
WHETHER.
TO BUY A HOME.
WHICH CAREER TO PURSUE WHETHER
TO START A FAMILY TO SAVE FOR
RETIREMENT.
STUDENT THAT IS CASTING A SHADOW
OVER SO MANY ASPECTS OF PEOPLE'S
LIVES AND THE RIPPLE EFFECTS ARE
BEING FELT ALL ACROSS.
OUR SOCIETY.
THIS SET IS FEELING ECONOMIC
GENDER AND RACIAL AND INEQUITIES
AND INHIBITING ASSET
ACCUMULATION.
AND ACCELERATING MATH GAPS THAT
ARE ALREADY SO PERVASIVE HERE IN
CALIFORNIA AND ACROSS THE
COUNTRY.
THIS REALLY IS A CRITICAL ISSUE
AND ONE THAT I DON'T THINK
POLICYMAKERS.
HERE OR ACROSS THE NATION HAVE
FOCUSED ON ENOUGH AND I THINK.
PARTICULARLY IN THE CONTEXT OF
WHAT'S HAPPENING AT THE FEDERAL
LEVEL WHEN WE HAVE.
THE TRUMP ADMINISTRATION CLEARLY
MORE INTERESTED IN I TAKING CARE
OF THE COMPANY'S SERVICE STUDENT
AT THAN TAKING CARE OF THE
CONSUMERS IN THE STUDENTS THAT
ARE STRUGGLING WITH IT.
CALIFORNIANS ROLE AND I NEED TO
TAKE A LEADERSHIP ROLE IS
ABSOLUTELY CRITICAL.
WHICH IS OF COURSE WHY WE'RE ALL
HERE TODAY HI AND THIS COMMITTEE
IS ACTUALLY THE FIRST IN THE
NATION.
TWO I TO LOOK AT THAT SO
CALIFORNIA'S THE FIRST STATE TO
HAVE A LEGISLATIVE COMMITTEE
DEDICATED TO THE TOPIC OF
STUDENT AT TODAY'S HEARING WILL
EXAMINE MANY ASPECTS OF THIS
CRISIS WE'VE GOT FORCED PANELS.
I SCHEDULE TODAY THE LANDSCAPE
OF CALIFORNIA STUDENT LOAN DEBT
THE DECISION TO TAKE OUT STUDENT
LOANS.
REPAYING STUDENT LOANS AND
CURRENT EFFORTS TO SUPPORT
STUDENT LOAN BORROWERS WILL BE
HEARING FROM A WIDE VARIETY OF
EXPERTS.
AS WELL AS INDIVIDUAL BORROWERS
AND AT THE OPPORTUNITY AT AT THE
END OF THE HEARING WE WILL HAVE
AN OPPORTUNITY. FOR PUBLIC
COMMENT AS WELL.
REALLY EXCITED TO BE HERE WITH
YOU TODAY TO LEARN AND MORE
IMPORTANTLY EXCITED TO WORK WITH
ALL OF YOU TO DEVELOP REAL
SOLUTIONS TO ADDRESS THIS CRISIS
HERE IN CALIFORNIA.
BEFORE WE WE CAN OFFER FIRST
PANEL I'D LIKE TO WELCOME A
COUPLE AS A FIX TO JOIN ME IN
MAKING WELCOMING REMARKS.
SOUGHT LOPEZ PLEADED THE SENATE
PRESIDENT AS I HAD THE SEATED
STUDENTS HERE AT UCI.
THANK YOU AGAIN SOLVE EVERYTHING
THAT YOU'VE DONE LEFT IT TO GET
YOUR PERSPECTIVE BEFORE WE KICK
OFF [INAUDIBLE]
HELLO.
AND CHAIR THANK YOU VERY MUCH
FOR THE INVITATION CACHES THANK
YOU MUCH FOR REACHING OUT --
HOPEFULLY YOU DON'T COME TO
REGRET THIS -- I AM --
DISTINGUISHED MEMBERS OF THE
PUBLIC -- MY NAME IS SALWA LOPEZ
PLEA THOUGH WHEN I HAVE THE
HONOR AND A PRIVILEGE OF
PRESENTING ON BEHALF OF THE
ASSOCIATED STUDENTS OF THE
UNIVERSITY OF CALIFORNIA IRVINE.
SO I THOUGHT -- MY JOB OR WHAT
I'D SEE MY DUTY HERE IS TO
INFORM NOT ONLY YOURSELF MADAM
CHAIR BUT TO OTHER MEMBERS OF
THE COMMITTEE WITH VALUABLE
INSIGHT AND THE EXPERIENCE OF
THE AVERAGE STUDENT [INAUDIBLE]
AND WELL AT LEAST MY
INTERPRETATION OF THE STUDENT
EXPERIENCE -- I LIKE MANY OTHER
MEMBERS IN CALIFORNIA I'M A
DOCTOR RECIPIENT OF FOR ALL WHAT
TIME ARE YOU MAY OR MAY NOT KNOW
THAT'S DEFERRED ACTION FOR
CHILDHOOD ARRIVALS.
CREATING -- TWO THOUSAND TWELVE
DID.
LAWS ME NOT TO GET DEPORTED AS
FOR THE LARGE AMOUNT OF REASONS --
AND FOR MANY OTHERS OF MY STATUS --
I THOUGHT HIGHER EDUCATION OUT
OF HIGH SCHOOL IS OUT OF THE
QUESTION -- I WAS RESIGNED --
THAT THE THOUGHT OF MY FUTURE
POTENTIALLY WAS JUST TO WORK FOR
MY FATHER INSTALLING NEON AND
ACRYLIC SIGNS ALL OVER GREATER
LOS ANGELES -- BUT I THINK LIKE
EVERY LIKE JAPAN AND I THINK IN
EVERY STORY OF A STUDENT.
WHOSE FIRST GENERATION THERE'S
SOMEONE AND MY OLDER SISTER
WOULDN'T HAVE IT.
AND THERE'S SOME WILL POWER SHE
MANAGED TO DRAG ME TO ATTEND A
COMMUNITY COLLEGE -- WITHOUT
KNOWING WHAT I WANTED TO STUDY
WITH NO CLUE HOW TO NAVIGATE THE
FINANCIAL AID TO BRIARCLIFF CT
ZERO KNOWLEDGE OF PROCESSING IT
ABOUT.
PRETTY MUCH ANY INSTITUTION OF
HIGHER EDUCATION.
I SIGNED UP FOR CLASSES.
AND JUST AS MANY OTHERS MY
EXPERIENCE WITH THAT BECAME
AFTER STARTING COLLEGE BUT MINE
CAME.
FROM A BIT OF BAD ADVICE.
SHE HAD NO IDEA WHAT ASSEMBLY
BILL FIVE FORTY WAS OR WHAT WE
USED -- FOR IMAGINE MY SURPRISE
HALFWAY THROUGH MY SECOND
SEMESTER COMMUNITY COLLEGE ONE
NOW I FOUND OUT THAT IT WAS NOT
SUPPOSED TO COST TWO HUNDRED
FIFTY DOLLARS A UNIT.
BY THE GREAT JOB WHEN ASSEMBLY
BILL TWO THOUSAND NOW MADE
SIMPLER AB FIVE FORTY WAY EASIER
TO NAVIGATE.
SO WITH AROUND FORTY FIVE
HUNDRED DOLLARS IN DEBT ON A
CREDIT CARD.
I TOOK A BREAK I STARTED WORKING
AND RELIGIOUS -- AS A REAL
ESTATE BROKER'S ASSISTANT I GOT
COFFEE I SHOUTED AGENTS.
AND FOR A TIME I WAS CONTENT
WITH MY JOB AND WITH MY LITTLE
PIECES THAT -- BUT LIKE A TRUE
BELIEVER -- THE CALL OF THE
AMERICAN DREAM WAS JUST TOO MUCH
FOR ME TO IGNORE.
SO I BUCKLE DOWN RE ENROLLED IN
COLLEGE I BECAME THE STUDENT
BODY PRESIDENT MY COMMUNITY
COLLEGE.
AND I TRANSFER HERE UC IRVINE.
AND I STAND HERE SENATE
PRESIDENT.
READY TO GRADUATE WITH ONLY NINE
THOUSAND DOLLARS AND THAT --
GREAT RIGHT.
ANOTHER MISSION WELL DONE BUT
UNFORTUNATELY THAT'S NOT HOW IT
GOES ANYMORE.
AND WHAT I OMITTED FROM THE
RECORD ARE.
SEVERAL BOUTS OF DEPRESSION.
SUICIDE ATTEMPTS PARENTS
SEPARATING.
EMERGENCY ROOM VISITS.
CARD RATING DOWN IN THE MIDDLE
FREEWAYS FROM COMMUTES THAT'S IN
THE FAMILY.
AND THE LIST GOES ON TODAY YOU
WILL BE HEARING FROM EXPERTS
PROFESSORS PROFESSIONAL POLICY
RESEARCH CENTER.
BUT WHAT WHAT FELL ON THE FLOOR
WHAT WON'T FIT IN THERE FLOW
CHARTS IN THEIR TEN POINT PLANS
TO ELIMINATE STUDENT DEBT.
IS THAT.
VERY MUCH THAT SOME OF US IN
STUDENTS COME TO REALIZE IS THAT
LIFE DOESN'T CARE ABOUT.
PLANS CHARTS [INAUDIBLE]
OR PROMISES.
THESE ARE REALITIES WE LOOK
STUDENTS HAVE TO LIVE WITH.
I WISH I CAN TELL YOU THAT MY
STRUGGLES WITH IMPENDING DAN AND
CERTAIN AND UNCERTAINTY OR
UNIQUE.
I WISH I COULD TELL YOU THAT MY
STORY SOME OUT LIAR SOME ANOMALY.
BUT IT'S NOT.
THE PEOPLE OF MY GENERATION ARE
EXHAUSTED.
FRUSTRATED [INAUDIBLE]
THEY'RE SCARED.
AND THEY'RE VERY BROKE.
I KNOW SOMEONE THAT THE STORE OF
HUMAN KNOWLEDGE DOUBLES EVERY
FIVE YEARS AND I'M SURE NOW THAT
STATISTIC IS PROBABLY WAY.
WAY MORE.
AND WHAT THAT ADVANCING COMES A
JOB MARKET CROTHERS COMPETITION
WHICH MEANS LITTLE LESS
OPPORTUNITIES A LOT MORE WORK.
AND A BLEAKER FUTURE.
NOW I MEAN FOR THE RECORD I'M
NOT SAYING THAT MY GENERATION IS
AN UP FOR THE CHALLENGE --
CHOSEN MOUNTAIN WILL CLIMB IT.
SHOWS THAT YOU BILL LIKE WHAT
YOU THINK OUR CAPACITY IS AND
I'M PRETTY SURE WILL COME
FOUNDER EXPECTATIONS.
WE KNOW WHAT'S SUPPOSED TO BE
HARD WE KNOW.
THAT WE HAVE TO STRUGGLE TO EARN
IT.
AND WE KNOW THAT THE JOURNEY IS
JUST AS IMPORTANT AS THE END
RESULT.
BUT IT COULD BE A LITTLE EASIER.
JUST A LITTLE EASIER.
AND IN THAT TINY DIFFERENCES
WHAT MAKES ALL THE DIFFERENCE.
SO WHAT CAN YOU DO.
I MEAN THE GOOD THE GOOD THING
IS THAT THERE'S PLENTY OF
OPTIONS.
MY BEST ADVICE MATCH THE
COMMITMENT TO EDUCATION TO THE
STUDENTS WHO ARE WILLING TO TAKE
A STEP TO TAKE ANY CHANCES.
THE NEXT WORKERS TEACHERS
ENGINEERS DOCTORS THEY WILL BE
YOUR FUTURE OUR FUTURE.
LET'S MAKE CALIFORNIA CHAMPION
AND LEADER OF EDUCATION SO THAT
OTHER STATES CAN LOOK AT US AN
EXAMPLE AND FOLLOW OUR SUCCESS.
WORK WITH YOUR COLLEAGUES IN THE
SENATE PASSED BILL SAYS SB
FOURTEEN PROVIDING A LONG TERM
BLUEPRINT FOR FUNDING FOR THE UC
SB FOUR SIXTY ONE ALLOWING CAN
GRAB CAL GRANTS TO EXTEND AND
PAY FOR TWO SUMMER SESSIONS.
SB THREE FIFTY FOUR ALLOWING TO
QUALIFY.
FOR THOSE WHO QUALIFY FOR AB
FIVE FORTY TO TAKE DREAM LOANS
FOR GRADUATE SCHOOL SB FIVE
SIXTY EIGHT A BILL WHICH TACKLES
ONE OF THE MANY COSTS THAT AND
STUDENT HOUSING.
CREATE LOAN FORGIVENESS PROGRAMS
FOR THOSE WHO BECOME TEACHERS
HOW BENEFITING THE BILL TO THE
STUDENTS BY INCREASING THE COST
OF TUITION.
PRESSURE UNIVERSITY PRESIDENTS
AND CHANCELLORS FUN CENTERS ARE
PROVIDE ADVICE FOR UNDOCUMENTED
STUDENTS INTERNATIONAL STUDENTS
FIRST GENERATION STUDENTS.
AND I KNOW A LOT OF THE TIMES.
IT DOESN'T REQUIRE LEGISLATION
AND JUST REQUIRES.
SOME WILLINGNESS TO WORK.
BUT ALSO AND JUST AS IMPORTANT.
BE WILLING TO LISTEN TO STUDENTS
LIKE ME WHO ARE AFFECTED BY
THESE BILLS.
LISTEN TO A PUBLIC COMMENTS AND
TESTIMONY [INAUDIBLE]
AND PLEASE [INAUDIBLE]
DO SOMETHING.
YOUR ACTIONS OR IN ACTIONS HAS
REAL LIFE CONSEQUENCES.
REMEMBER THAT PLEASE.
I'D LIKE TO FINISH BY THINKING --
AND CHAIR -- CON PEACHY OURS FOR
THE INVITATION VERY MUCH
APPRECIATED.
AND ALL THE COMMITTEE MEMBERS
WHO YOU'LL BE WORKING WITH IN
ORDER TO TACKLE THIS.
I'M A DIFFICULT ISSUE.
I WISH YOU ALL THE BEST OF LUCK
AND I WOULD LIKE YOU TO KNOW
THAT WE'RE COUNTING ON THANK YOU.
SO I THINK -- YOUR AS YOU SPOKEN
INSURANCE MY PURE STRAIN YOUR
EXPERIENCE THANK YOU REALLY
HIGHLIGHTED.
THE SCOPE AND SCALE OF OF THE
CHALLENGES THAT WE'RE WE'RE
FACING AND ALSO.
IT THE FACT THAT WE'RE ONLY
GOING TO BE ABLE TO DRESS AND
WORKING TOGETHER.
YOU SEE I I THINK ENJOYS MANY
DISTINCTIONS BUT IN MY MIND I
THINK. NINE IS MORE IMPRESSIVE
THAN THANK YOU SEE AYE AYES
POSITION IS.
NUMBER.
ONE IN TERMS IS.
AT NUMBER ONE UNIVERSITY FOR
CREATING THE AMERICAN DREAM FOR
MAKING THE AMERICAN DREAM A
REALITY.
WHICH IS REALLY PRETTY
INCREDIBLE I'M WHICH LEADS ME TO
OUR OUR NEXT SPEAKER I REBEKAH
SANCHEZ IS THE DIRECTOR OF
FINANCIAL AID AND SCHOLARSHIPS
HERE AT AT YOU SEE I LOVE TO
HEAR.
FROM YOU BEFORE KICK OFF OUR
FIRST PANEL.
GREAT THANK YOU SO MUCH THE
ASSEMBLY WOMAN AND WE WELCOME
YOU HERE TO YOU SEE I WERE GLAD
THAT IT DIDN'T RAIN FOR YOU
TODAY AND THAT WE HAVE SOME
SUNSHINE TO SHARE -- THANK YOU
SAW FOR YOUR STORY I THINK IT'S
SO IMPORTANT FOR ALL.
AND TO HEAR YOUR WORDS AND AND
BE OPEN TO LISTENING AND AND TO
FIND SOLUTIONS TOGETHER SO THANK
YOU SO MUCH FOR THAT.
FUNDING IN EDUCATION IS ONE OF
THE MOST IMPORTANT AND STRESSFUL
THINGS -- THAT A STUDENT CAN DO
AN ENCOUNTER AND WE WORK WITH
MANY FAMILIES AND AND THAT FIRST
YEAR THAT A STUDENT COMES HERE
IS VERY OVERWHELMING AND I AND
AND WE ARE HERE TO HELP
DEFINITELY IN THE FINANCIAL AID
OFFICE AND THE UNIVERSITY.
AND I WOULD LIKE TO SAY THAT IT
IS SUCH A PRIVILEGE TO WORK AT
U. C. I. WE HAVE AMAZING
STUDENTS HERE THIS IS MY FOURTH
UNIVERSITY.
I'VE WORKED IN THE FINANCIAL AND
EIGHT INDUSTRY OVER TWENTY YEARS
AND THE STUDENTS HERE ARE
PHENOMENAL.
AND THE LOAN DEFAULT RATES CAN
INDICATE HOW WELL A UNIVERSITIES
HELPING STUDENTS ATTEND COLLEGE
WITHOUT RELYING TOO MUCH ON
LOANS.
I WOULD LIKE TO SAY THAT THE UC
I STUDENTS HERE THE DEFAULT RATE
IS ONLY ONE POINT 7%.
IN THE NATIONAL RATE IS TEN
POINT EIGHT THIS IS AN INDICATOR
HOW WELL OUR STUDENTS ARE DOING
TO MAKE SURE THAT THEY DON'T
OVER BORROW.
AND THAT'S WHEN THEY GO INTO
PAYMENT THERE'S SUCCESSFUL IN
MAKING THOSE PAYMENTS THAT
DOESN'T MEAN THAT WE CAN'T DO
MORE OR SHOULD DO MORE WE
ABSOLUTELY NEED TO BE WORKING
TOGETHER.
AND FINANCING AND EDUCATION
DEFINITELY TAKES A VILLAGE IT
TAKES THE STATE IT TAKES THE
FEDERAL GOVERNMENT TAKES THE
UNIVERSITY AND IT TAKES A FAMILY.
ALL OF US TOGETHER HAVE TO WORK
TOWARDS A SOLUTION TO HELP LOWER
INDEBTEDNESS FOR STUDENTS AND
MORE OPPORTUNITY FOR
SCHOLARSHIPS AND GRANTS
THROUGHOUT THE NATION.
FEDERAL STUDENT AID DOES
CONTINUE TO SHRINK WITHIN THE
FEDERAL GOVERNMENT AND WE SAW IT
FIRST WHEN THEY GRADUATE
STUDENTS LOST THEIR SUBSIDIES ON
THEIR LOANS.
WE SEE IT IN THE PROSPERITY ACTS
THAT IS GOING FORWARD IN THE
NATION THAT WILL REDUCE SCO JEEP
GRAND TO WORK STUDY.
WHICH WILL THEN REQUIRES
STUDENTS TO NEED TO BORROW EVEN
MORE WE WOULD ENCOURAGE AND OUR
FEDERAL GOVERNMENT AND CONGRESS
TO VOTE AGAINST THAT.
WE CERTAINLY ARE VERY ENCOURAGED
BY THE STATE.
USE ME WHO IS WORKING TOWARDS
CAL GRANT TOWARDS SUMMER.
OUR STUDENTS TYPICALLY FOR
SUMMER TERM DO NOT HAVE ANY
FEDERAL GRANTS OR INSTITUTION
EIGHT REMAINING WHICH REQUIRES
ALL STUDENTS TO BORROW MORE IN
DURING SUMMER.
HAVING CAL GRANT PAY FOR TUITION
AND FEES FOR THE SUMMER STUDENTS
REVISED IN.
INSTANT ACCESS TO GRANTS AND NOT
NEEDING TO BORROW THAN WHICH
WILL HAVE.
AN INSTANT AND OPPORTUNITY FOR
FOR OUR NEEDIEST STUDENTS TO BE
ABLE TO TAKE ADVANTAGE OF SUMMER
THIS ALSO INCREASE GRADUATION
RATES AND OFFER A LEVEL PLAYING
FIELD FOR ALL OF OUR STUDENTS.
AND OUR OFFICE PROVIDES OUTREACH
TO HIGH SCHOOLS AND COMMUNITY
COLLEGE ON FINANCIAL AID.
I AND TO HELP LOWER DEBT WE DO
MANY WORKSHOPS TO TRY TO TELL
STUDENTS HOW THEY CAN REDUCE
THEIR INDEBTEDNESS.
AND THOSE AND WE HOPE TO BE PART
OF THE DISCUSSION TODAY
CERTAINLY AND CERTAIN THINGS CAN
BE COMMUTING AT HOME.
LEAVING OUR CARD HOME KEEP THEIR
PERSONAL EXPENSES TO ALLOW ALL
THOSE CERTAIN THINGS AND WE WANT
TO MAKE SURE THE STUDENTS ARE
USING ALL THEIR TOOLS AND THEIR
TOOL BOX TO MAKE SURE.
THAT THEIR INDEBTEDNESS SEEMS
LOW ARE STAYS LOW FOR THEM.
AND CERTAINLY WE UNDERSTAND THAT
NINE THOUSAND AND IS A
RELATIVELY SMALL AMOUNT BUT FOR
A STUDENT THAT DOESN'T HAVE
ACCESS TO OTHER MEANS.
IT IS OVERWHELMING AND THAT'S
SOMETHING THAT WE ARE HOPING TO
IMPROVE I'M ALSO PROUD TO SAY
THAT UCI.
IS UNDERGOING A CAMPAIGN WILL BE
AN IMPROVING MORE SCHOLARSHIPS
ON CAMPUS WHICH WILL ALSO HELP.
REDUCE BORROWING FOR OUR
STUDENTS HERE AND I WOULD SAY
NATION WIDE THE STRUGGLE IS THAT
MANY STATES DO NOT HAVE A STATE
GRANT SUCH AS CAL GRANT SO WE'RE
VERY GRATEFUL THE CITY
CALIFORNIA THAT WE HAVE THAT.
WHEN WE'RE LOOKING AT THE
NATIONAL STUDENT DEBT AND MANY
STATES WITHIN THE NATION NEED TO
PUT MORE SKIN IN THE GAME AND
MAKE SURE THEY'RE PUTTING THEIR
STUDENTS FORCED?
AND INCURRING HIGHER EDUCATION
FOR ALL STUDENTS.
THANKS FOR BACK PAY AND I THINK
YOU ALSO TEN OVER TEN I'VE FOR
YOUR PARTNERSHIP.
WITH IN THIS IN IN SO MANY OTHER
AREAS -- SO I THINK WHAT WE WANT
TO DO NOW IS IS KICK OFF OUR
FIRST PANEL AND REBEKAH YOU'RE
PART OF THAT AS WELL.
WOULD LIKE TO WELCOME MIKE
PIERCE I TO JOIN US MIKE IS THE
DIRECTOR OF POLICY AND MANAGING
COUNSEL. FOR THE STUDENT
BORROWER PROTECTION CENTER.
AND DIED FOR THOSE OF YOU WHO
MIGHT BE FALLING ON OUR ON OUR
AGENDA AT TWENTY ONE THAT'S
RIGHT RANDI WEINGARTEN THE
PRESIDENT OF THE AMERICAN
FEDERATION OF TEACHERS.
IT'S GOING TO BE JOINING US A
BIT LATER -- SEVERAL WILL KICK
OFF OUR FIRST PANEL.
AND MIKE WOULD LOVE TO HEAR.
FROM YOU AND YOUR PERSPECTIVE
THANK YOU SO MUCH FOR THE
OPPORTUNITY TO BE HERE TODAY.
THANK YOU SO MUCH FOR THE
OPPORTUNITY TO BE HERE TODAY.
AND FOR THE CHANCE TO ADDRESS
THIS IMPORTANT COMMITTEE IT'S
GREAT TO SEE THE STATE OF
CALIFORNIA TAKE UP THIS ISSUE.
IN SUCH A MEANINGFUL AND FOCUSED
WAY -- MY NAME IS MIKE PIERCE --
AND IS AS THE CHAIR MENTIONED --
I AM THE MANAGER COUNSEL TO THE
BARBER ACTION CENTER.
SORRY.
SUCH AS ME. SEVEN BETTER WORSE.
SAME.
SAME OKAY ALL RIGHT WE'RE GOING
WITH THAT -- IN.
THE SUMMER -- I WAS A SENIOR
REGULATOR THE CONSUMER FINANCIAL
PROTECTION BUREAU AND WATCHING
TO SEE WHERE WE WERE. TEN
COMMERCE.
WITH OVERSEEING.
THE LARGEST FINANCIAL SERVICES
COMPANIES IN THE STATE LONG
MARKET -- DURING MY TIME AT THE
BUREAU WE WORKED ON I AM
FORTUNATE ACTIONS AGAINST SOME
OF THE LARGEST PREDATORY FOR
PROFIT COLLEGES IN THE COUNTRY
INCLUDING -- COLLEGES OWNED BY
CORINTHIAN -- AND THE I. T. TECH
CHAIN -- WE ALSO WORKED ON A
YEARS LONG INVESTIGATION THAT
ULTIMATELY CULMINATED IN A
LAWSUIT AGAINST NAVIENT -- THE
NATION'S LARGEST AT ONE COMPANY --
ANY OVERSIGHT WORK WE THOUGHT IT
WAS IT IS A KEY PART OF THAT --
FEDERAL RESPONSE TO THE STUDENT
DEBT CRISIS.
AND I'M REALLY PLEASED TO BE
HERE TODAY TO TRY TO OFFER A
BROADER FRAME AROUND THE THE
REALLY BIG PIECE OF WORK THAT
THIS COMMITTEES TAKING UP -- AND
THAT THIS LEGISLATURE'S TAKING
UP.
WASHINGTON HAS LOST ITS FOCUS
AND IT'S REASSURING TO ALL OF US
THAT THAT DID THE WORK IN DC. TO
SEE THE STATE OF CALIFORNIA PICK
UP THE MANTLE AND TO SAY THAT
IT'S NOT OKAY FOR STUDENT LOAN
BORROWERS AND FAMILIES ACROSS
THE COUNTRY TO BE TAKEN
ADVANTAGE OF BY.
COMPANIES.
AND SO I WAS ASKED TO JOIN TODAY
TO OFFER A LITTLE BIT OF FRAMING
ABOUT THE STUDENT DEBT CRISIS IN
THE STATE OF CALIFORNIA.
IT'S GREAT TO SEE THIS FIRST
HEARING.
HE CALLED THE CHANGING FACE OF
THE STUDENT DEBT CRISIS BECAUSE
I THINK THAT'S REALLY WHAT WE'RE
LOOKING AT HERE -- TWENTY YEARS
AGO.
WE DIDN'T GO TO COLLEGE TOOK OUT
MODEST AMOUNTS OF DEBT.
THEY WERE LARGELY ABLE TO MANAGE
THAT DEBT AND SUCCESSFULLY REPAY
IT THE CAL GRANT DID A LOT MORE
THE PURCHASING POWER OF THE CAL
GRANT HAS DECLINED OVER TIME THE
PURCHASING POWER OF THE PELL
GRANT HAS DECLINED OVER TIME.
AND REPLACED WITH THIS BURDEN
PUT ON INDIVIDUALS TO FINANCE
THEIR EDUCATION THEMSELVES --
AND SO TO DATE FOUR HUNDRED
THOUSAND BORROWERS IN RURAL
PARTS OF CALIFORNIA HAVE STUDENT
DEBT. THREE HUNDRED THOUSAND
OLDER BORROWERS HAVE STUDENT
DEBT IN THE STATE OF CALIFORNIA
OLDER BORROWERS ARE ACTUALLY THE
FASTEST SEGMENT THAT'S A GROWING
SEGMENT OF STUDENT LOAN
BORROWERS -- 300-100-0500
THOUSAND BORROWERS ACROSS STATE
OF CALIFORNIA ARE NOW BEHIND ON
THEIR LOANS.
WHAT THAT MEANS I THINK WITH THE
CHANGING FACE OF THE STUDENT
DEBT CRISIS AT LEAST MEANS TO US
IS THAT WE SHOULD CHALLENGE OUR
OUR PRIOR WE SHOULD?
THINK ABOUT THE CONVENTIONAL
WISDOM THAT LED US TO A TRILLION
AND A HALF DOLLARS WITH THE
STUDENT AT NATIONWIDE -- AND ASK
THE REALLY HARD QUESTIONS ABOUT
HOW WE GOT HERE AND WHY AND AND
WHAT IT MEANS TO HAVE BARS THAT
ARE BOTH YOUNG AND OLD -- THAT
ARE URBAN AND RURAL THAT ARE
BLACK AND WHITE THAT ARE THAT
ARE PEOPLE THAT WANT TO FOR
PROFIT COLLEGES AND PEOPLE THAT
GRADUATED IN THE UC SYSTEM -- IS
A MUCH BIGGER PROBLEM THAN JUST
A HANDFUL OF PREDATORY SCHOOLS
FOR A HANDFUL OF PREDATORY
LENDERS IT'S SOMETHING THAT
AFFECTS COMMUNITIES ACROSS THE
STATE -- WHICH IS I THINK PART
OF THE REASON WE'RE SO EXCITED
TO SEE THAT THE THE SELECT
COMMITTEE WAS CREATED AND HEAR
FROM THAT.
THE LARGE COLLECTION EXPERTS AND
INDIVIDUAL BORROWERS -- THAT ARE
ASSEMBLED HERE TODAY AND WHY.
SAULS OPENING REMARKS -- WE'RE
REALLY SO MOVING AND AND HIT
HOME IN SO MANY WAYS.
WE THINK A LOT ABOUT THE BASIS
TO DEBT CRISIS BEING.
AN EIGHTEEN YEAR OLD GOING TO A
STATE SCHOOL.
WITH HELP FROM THEIR FAMILY.
AND THAT'S REALLY NOT WHAT
STUDENT IT LOOKS LIKE IN
CALIFORNIA OR IN AMERICA TODAY --
I THINK TODAY YOU'RE GOING TO
HEAR A LOT ABOUT THE SOCIETAL
EFFECTS OF STUDENT AT THE
ECONOMIC EFFECTS OF STUDENT DEBT
THE REALLY BIG POLICY QUESTIONS
THAT ARE GOING TO CONFRONT.
THE LEGISLATURE WHEN GRAPPLING
WITH THIS THIS REALLY
COMPLICATED ISSUE.
SO -- I WANT TO CLOSE WITH A
MORAL QUESTIONS THAT -- WHEN YOU
LOOK AT THE STUDENT DEBT CRISIS
TODAY?
DO YOU THINK THIS IS RIGHT OR
WRONG -- AND IT IF YOU LIKE SO
MANY OTHER PEOPLE FEEL LIKE THIS
IS WRONG.
WHAT ARE WE GOING TO DO ABOUT IT
AND SO IT'S REALLY IT'S REALLY
GREAT TO START THIS DISCUSSION --
I'M I'M THANKFUL FOR THE
OPPORTUNITY TO BE HERE TODAY
OUTLOOK FOR TO BE ABLE TO SPORTS
COMMITTEE IN ANY WAY WE CAN MOVE
FORWARD.
THANK YOU AND ONE THING I MEANT
TO SAY BEFORE WE KICKED OFF OUR
PANELS SO I'M.
WE'VE GOT A COUPLE HASH TAGS I
THAT WOULD LOVE FOR PEOPLE TO
USE AS WE'RE WE'RE GOING TO THIS
CONVERSATION.
AND SIR HASHTAG STUDENT THAT
HASH TAG PROTECT BORROWERS BUT
TO EXPAND THE CONVERSATION ON
SOCIAL MEDIA AND ALSO IF YOU
HAVE A QUESTION. FOR A SPECIFIC
PANELISTS AS OUR CONVERSATIONS
UNFOLD MUSES HASH TAGS AND WE
WILL.
FIND A WAY TO GET THEM TO ME AND
I CAN POSE THEM TO OUR PANELISTS.
I'M SO AGAIN ATTACHED TAKE
STUDENT DEBT AND HASH TAG
PROTECT.
BORROWERS I'M REBEKAH YOUR DATE
SHARED -- IN IT SIMPSON.
GREAT INSIGHT AND PERSPECTIVE IS
THERE ANYTHING ELSE THAT YOU --
THAT YOU WOULD ADD JUST AS WE
KIND OF FRAME THE CONVERSATION
AROUND AROUND THE LANDSCAPE OF
CALIFORNIA STUDENT.
DEBT I AM.
I MEAN YEAH I'VE BEEN IN THE
LIKE I SAID I'VE BEEN AROUND
FINANCIALLY FOR MANY YEARS AND
AND THERE DEFINITELY ARE SOME
BAD ACTORS OUT THERE IS SUCH AS
THE FOR PROFIT SCHOOLS.
I AND THAT DEFINITELY HAVE A
PRETTY TERRY -- TYPE OF LENDING
TACTICS THAT TIME.
THEY TYPICALLY DON'T NEED
STUDENT TO GAINFUL EMPLOYMENT SO
THERE'S THERE'S DEFINITELY WORK
TO BE DONE WITHIN THE STATE OF
CALIFORNIA AND THE NATION.
AND I I WOULD SAY YOU KNOW AND I
APPRECIATE YOUR QUESTION IS THIS
WRONG OR IS THIS RIGHT AND I
WOULD SAY A SOMEONE WHO WORKS IN
FINANCIAL AID AND WORKS WITH
INDIVIDUAL STUDENTS AND AND SEES
THE STRUGGLE THAT IT TAKES. TO
AFFORD AN EDUCATION -- FOR
MYSELF AND I DON'T SEE A STUDENT
LOAN AS PRO NOR CON I BELIEVE
FINANCIAL AID INCLUDING SELF
HELP LOANS.
AND ARE A TOOL AND I THINK AND
IT'S ONE OF THE MANY THINGS THAT
SOMETIMES STUDENTS NEED TO DO IN
ORDER TO AFFORD AN EDUCATION.
NOW SHOULD STUDENTS BORROWED ALL
THAT THEY HAVE BEEN OFFERED YOU
KNOW SHOULD THEY DO TO THE
BORROWED THE ENTIRE AMOUNT.
AND I DON'T BELIEVE THEY SHOULD
BUT I THINK EVERY FAMILY NEEDS
TO MAKE THAT DECISION WHEN
THEY'RE LOOKING AT THE
AFFORDABILITY FACTOR.
FIRST DO THE NEED THE STUDENT
LOAN SOME REALLY DO NEED THAT
LAND AND SOWED RESTRICTING
ACCESS TO THAT COULD BE -- YOU
KNOW HAVE A LOT OF UNINTENDED
CONSEQUENCES WHERE WHERE WHERE
PRICING OUT SOME OF OUR NEEDY
STUDENTS THAT NEED ACCESS TO
SOME HELP ELF -- SELF HELP AID
SO -- I THINK WAY AND I AND I
BELIEVE VERY STRONGLY IS THAT WE
NEED TO BE EDUCATING OUR
STUDENTS BETTER TO BE MORE
DELIBERATE IN THEIR BARRING WHEN
THEY'RE LOOKING AT THEIR
FINANCIAL AID OFFERS.
AND THEY SHOULDN'T JUST ACCEPT
THE LANDS DOWN THE LINE OR
ACCEPT ALL OF THEIR AID WITHOUT
EVEN LOOKING AT IT WE DO SEE
SENIORS THAT GRADUATE.
AND THEY HAD TO GO TO THE LOAN
EXIT INTERVIEW AND THEY DON'T
REMEMBER BORROWING.
AND IT'S NOT AN UNCOMMON STORY
IT HAPPENS ALL THE TIME SO I
THINK THERE NEEDS TO BE MORE
EDUCATION TO UNDERSTANDING.
AND INDEBTEDNESS AND SELF FOR
COLLEGE STUDENTS THIS IS THE
VERY FIRST TIME THAT THEY'VE HAD
TO GO INTO LOANS THE FIRST TIME
THEY'VE OFFERED CREDIT CARDS.
I AM I THINK HIGH SCHOOLS COULD
DO A LOT TOWARDS TRYING TO
PROVIDE SOME OF THESE BASIC
FINANCE QUESTIONS ABOUT WHAT IS
A LOAN MEAN.
AND WHAT DOES RESPONSIBLE
BARRING MEAN AND AND WHY CAREER
ARE YOU LOOKING AT AND WHAT DO
YOU THINK YOU CAN BE FORTY THREE
PAYMENT IN MAKING SURE YOU HAVE
LIMITS.
AND AND GOING FORWARD IN A VERY
DELIBERATE WAY ALL OF THOSE
TYPES OF THINGS ARE REALLY
IMPORTANT -- WHEN GOING INTO A
STUDENT -- LEARN TO TUITION.
IT IS ALWAYS MY DESIRE THAT
STUDENTS GRADUATE DEBT FREE AND
I THINK WE NEED TO DO MORE AND
WE CAN DO MORE -- AS A COMMUNITY
I AM BUT I THINK WE HAVE A WAYS
TO GO THERE BUT I THINK THERE
ARE ARE TOOLS THAT WE CAN USE
INSTANTLY LIKE THE CAL GRANT
REFORM FOR SUMMER THAT'S GOING
TO MAKE AN INTENT BY INSTANT
IMPACT ON STUDENTS AFFORDABILITY.
AND THAT TRYING TO PRIME PROVIDE
MORE EDUCATION TO OUR HIGH
SCHOOL STUDENTS BEFORE THEY
ENTER COLLEGE.
AND SO AND I THINK WHEN WE LOOK
AT THEY THE CONUNDRUM STUDENT AT
I MEAN THERE THERE'S KIND OF
THREE PIECES THERE'S JUST THAT
THE COST THAT YOU KNOW THE PRICE
TAG ASSOCIATED.
WITH THE THE DEGREE THEY'RE
TRYING TO GET.
THERE IS THE AND IT AID PACKAGES
AND RESOURCES AVAILABLE. TO HELP
PEOPLE PAY FOR THAT AND THEN
THERE'S THE WAY THAT THE THE
LOAN IS STRUCTURED AND AND THE
RATES ASSOCIATED WITH THE LOAN.
I THINK YOU KNOW IT EVERY ASPECT
THERE'S AN ELEMENT AS AND YOU
KNOW I NEED FOR KIND OF
ADDITIONAL FINANCIAL LITERACY
AND TRANSPARENCY SO PEOPLE
UNDERSTAND FOR EVERY PIECE OF
THAT EQUATION.
AND I THINK BECAUSE I WANTED TO
GET YOUR PERSPECTIVE ON IS IS
KIND OF THAT THIRD PIECE WHICH
IS.
THE LOAN AND REPAYMENT STRUCTURE
IN JUST THE RIGHT.
BECAUSE THE THE AVERAGE.
RATE OF A STUDENT LOANS SEEMS.
UNREASONABLY HIGH GIVEN.
THE TYPE OF LOAN THAT IT IS AND
THE DEGREE TO WHICH YOU KNOW.
WE SHOULD BE ABLE TO WHETHER
IT'S IN A THROUGH THE GOVERNMENT
YET WHETHER THROUGH THE STATE
GOVERNMENT OR THROUGH.
THE FEDERAL GOVERNMENT PROVIDE
SOME MECHANISM -- YOU KNOW
SIMILAR TO THE WAY THAT THAT
MORTGAGES ARE STRUCTURED SAID
THAT WE'RE ABLE TO OFFER.
LOWER TERMS WHAT ARE YOUR
THOUGHTS ON WHAT WE CAN DO THERE
I GUESS BOTH.
AT A FEDERAL LEVEL WHAT WE
SHOULD BE DOING THERE AND SECOND.
WHAT CAN WE DO IT A STATE LEVEL
IN THE CONTEXT OF OUR CURRENT
FEDERAL ADMINISTRATION?
I'M I DEFINITELY AGREE I THINK
STUDENT LOANS ARE TOO HIGH AND I
THINK WHEN I WAS SPEAKING ABOUT
THE SHRINKING OF A FEDERAL
STUDENT AID AND HAS A LOT TO DO
WITH THAT I THINK.
YOU KNOW IS VERY DISAPPOINTED IN
THIS WAS SEVERAL YEARS BACK WHEN
GRADUATE STUDENTS WERE ELIGIBLE
FOR SUBSIDIZED PLANS AND SAID
THEY DIDN'T HAVE INTEREST
BEARING.
WHILE THEY'RE ATTENDING SCHOOL
NOW EVERY GRADUATE LOAN IS A IS
AN INTEREST BEARING THAT'S AN
UNSAFE LOAN -- WHICH IS YOU KNOW
THE LOAN THAT WE ENCOURAGED.
LEAST BECAUSE YOUR CURRENT
INTEREST WHILE YOU'RE ATTENDING
SCHOOL AS FAR AS A REPAYMENT
PLANS I AM I THINK THE INTEREST
RATE IS TOO HIGH AS WELL IT'S
SET EVERY JULY FIRST IT'S GONE
DOWN THIS NEXT YEAR SO IT'S
BELOW 5% IT WAS IT'S 5% NOW AND
HOW IT'S GONNA.
GO DOWN INTO THE 4% SO I THINK
IT'S GOING IN THE RIGHT
DIRECTION -- BUT I DO YOU KNOW
IT WOULD BE GREAT IF IT HAD A
SET INTEREST RATE ALONG LINES OF
THE FEDERAL PELL GRANT DID WHERE
YOU KNOW YOU CAN KEEP IT AT A
LOW RATE.
AND CERTAINLY AND BE BE USING
THEY WERE SUPPOSED TO PUT THE
SAVINGS FROM THAT YOU KNOW THE
GRADUATE.
I AM SUBSIDIES INTO BACK INTO
THE PROGRAM BUT THEY DID AND
THEY ENDED UP USING IT FOR K.
THROUGH TWELVE WHICH WAS VERY
DISAPPOINTING FROM THE FEDERAL
GOVERNMENT AS WELL.
AND I THINK THE PROSPERITY ACT
IS SOMETHING THAT EVERY STUDENT
SHOULD BE VERY CONCERNED ABOUT
TWO MEN CALLING AND THEIR
FEDERAL.
AND CONGRESS ABOUT IT CERTAINLY
AND BECAUSE IT IT REDUCES THE
AMOUNT -- AND GRANT FUNDING AND
AND WORK CITY FINDING.
AN I BELIEVE IN THE PROSPERITY
ACT YOU KNOW THIS CALL THIS ONE
GRANT ONE LONE BUT I'VE HEARD
THEM TALKING ABOUT EVEN TAKING
THE SUBSIDY AWAY FROM THE
UNDERGRADUATE STUDENTS AS WELL --
WHICH MEANS THEY'LL BE OCCURRING
THAT INTEREST WHILE THEY'RE
ATTENDING SCHOOL SO WEIRD YOU
KNOW THAT FEDERAL AID AND STOOD
NAY DEMONSTRATORS SUCH AS MYSELF
WE ADVOCATE VERY STRONGLY. TO
PROTECT -- YOU KNOW THE OUR
STUDENTS AND MAKE SURE THAT
THEY'RE NOT BEING GOUGED
CERTAINLY WERE TRYING TO PROVIDE
AFFORDABILITY AND ACCESS AND I
BELIEVE THOSE TYPES OF THINGS
AND YOU KNOW SUCH AS THAT THE
BILL THAT THEY'RE LOOKING AT
REALLY DOES LIMIT OPPORTUNITY
FOR THE NEEDIEST FAMILIES TO
COME IN.
WITH A LOOK AT LEVEL PLAYING
FIELD.
AND YOU KNOW I THINK I SAID
INTEREST RATE WOULD BE BETTER
BUT I THINK AND CERTAINLY THE
SHRINKING OF OVERALL THE FEDERAL
STUDENT AID IS VERY CONCERNING.
CONSIDERING THAT THE NATION IS
AN A STUDENT LOAN CRISIS IT'S
GOING TO INCREASE THE AMOUNT
STUDENTS WILL NEED TO BORROW.
IF I COULD STOP FOR A A LITTLE
BIT MORE ON THE ON THE BACK END
OF THE PROCESS SO.
ALL OF THOSE REFORMS ARE ARE
MEANINGFUL EFFORTS. TO BRING
DOWN THE NET PRICE OF COLLEGE OF
OUR HOURS AND CERTAINLY CAN DO
ALL THAT WORK.
THERE ARE FORTY FOUR MILLION
AMERICANS THAT HAVE STUDENT
LOANS WITH THE TERMS THAT EXIST
RIGHT NOW -- AND THREE POINT
EIGHT MILLION OF THEM LIVE IN
THE STATE OF CALIFORNIA AND
THINGS LIKE -- BUT WITH THE
CHAIR DOES MENTION THE ABILITY
TO REFINANCE YOUR LOAN JUST LIKE
YOU DO WITH A MORTGAGE TO BRING
DOWN THE TOTAL COST OF YOUR DEBT.
IS A REALLY IMPORTANT PART OF
FIGURING OUT HOW TO SOLVE THE
PROBLEM CONFRONTING PEOPLE TO
HAVE STUDENT AT TODAY.
A RIGHT NOW THOSE PRODUCTS ARE
LARGELY LIMITED TO THE MOST
CREDIT WORTHY BORROWERS -- THERE
REALLY ISN'T A ROBUST RE FINANCE
MARKET THAT HELPS.
A TYPICAL STE MIDDLE CLASS
STUDENT LOAN.
BRING DOWN THEIR INTEREST RATES
THERE ARE FEDERAL PROGRAMS
DESIGNED TO MAKE PAYMENTS
AFFORDABLE -- INCOME DRIVEN
REPAYMENT IS A NEAR UNIVERSAL
RITE FOR EVERYONE HAS FEDERAL
STUDENT LOAN.
BUT IT'S NOT WORKING -- THERE
WERE A MILLION DEFAULTS LAST
YEAR AND MILLION DEFAULTS THE
YEAR BEFORE THAT AND MILLION
DEFAULTS THE YEAR BEFORE THAT
AND A HALF A MILLION CALIFORNIA
BORROWERS ARE BEHIND ON THEIR
LIVES TODAY -- DESPITE THIS
RIGHT TO MAKE A PAYMENT BASED ON
YOUR INCOME.
AND IF YOU'RE VERY LOW INCOME OR
YOU JUST LOST YOUR JOB YOUR
PAYMENT OF THESE PROGRAMS IS
ZERO DOLLARS A MONTH AND SO --
AS THIS COMMITTEE THINKS ABOUT
WHAT TO DO ABOUT THE PROBLEM I
WOULD ENCOURAGE CALIFORNIA ALSO
THINK ABOUT BILLS LIKE. EIGHTY
THREE SEVENTY SIX THAT FOCUSES
ON DEMANDING ACCOUNTABILITY FROM
THE COMPANIES RESPONSIBLE FOR
IMPLEMENTING THESE PROGRAMS.
AND MAKING SURE THAT STUDENT
LOAN DEFAULT ISN'T LIKE A
NECESSARY FEATURE OF THE STUDENT
LOAN MARKET. FOR THE TENS OF
MILLIONS OF PEOPLE THAT HAVE.
TO I I WOULD AGREE WITH THAT THE
INCOME SINCE THE PLAN DOES NOT.
WORK AS WELL AS IT SHOULD
BECAUSE EVEN THOUGH YOU CAN
QUALIFY FOR A ZERO PAYMENT PER
MONTH YOU ARE STILL ACCRUING
INTEREST DURING THAT TIME OF
THAT YOU'RE NOT IN YOU KNOW
PAYING A MONTHLY PAYMENT AND
SAID THAT INTERESTS IS
COMPOUNDING.
I THINK IT WOULD BE GREAT IF THE
INCOMES AND STEP PLAN WHEN
YOU'RE YOU KNOW.
HOW THAT DEFERMENT ON YOUR
PAYMENT BECAUSE YOU DON'T HAVE
THE MONEY TO PAY THAT THAT THEY
WOULD ALSO PUT THAT ONE BACK IN
FOR BORING AT FOR PARENTS WERE
IS NOT OCCURRING ANY INTEREST
FOR STUDENTS BECAUSE IT JUST?
COMPOUNDS THE PROBLEM REALLY IF
YOU CAN AFFORD TO MAKE MAKE A
MONTHLY PAYMENTS BUT YOUR
OVERALL INDEBTEDNESS INCREASES
BECAUSE THE INTERESTING CREWS
[INAUDIBLE]
ABSOLUTELY.
AT YEAH AND I THINK.
IT SOLD YOU IN YOUR OPENING
COMMENTS YOU MENTIONED.
YOUR COLLEGE BEING PATTED THE
AMERICAN DREAM RIGHT AND I THINK.
FIRST OF MANY OF US EDUCATION
HAS BEEN THAT AT IT WINDOW INTO.
INTO A BETTER LIFE AND INTO A
BETTER WORLD.
RIGHT.
WE'RE NOW IN A SITUATION WHERE I
THINK.
STUDENTS ARE FINDING THEMSELVES
SO OVERWHELMED BY THE STUDENT AT
THAT IT'S ACTUALLY NOW
INHIBITING THEIR ABILITIES.
TO ACHIEVE THAT AMERICAN DREAM
TO BUY A HOUSE TO START A FAMILY.
TO LIVE THAT BETTER LIFE AND
THAT'S A THINK WHY THIS IS IT'S
SUCH A PROFOUND.
PROFOUND CHALLENGE RATE IN MORE
THAN JUST -- YOU KNOW PEOPLE ARE
TAKING UP TOO MUCH THAT IT'S IT
FEELS LIKE IT'S IT IS SIR SHORT
CHANGING NOT.
THAT DEAL THAT WE'VE ALL MADE
ABOUT THE AMERICAN DREAM RIGHT
WHERE IF YOU IF YOU WORK HARD
PLAY BY THE RULES AND YOU GO TO
COLLEGE YOU CAN HAVE THAT BETTER
LIFE WE'VE GOTTA.
MAKE SURE THAT WE'RE ACTUALLY
MAKING GOOD ON THAT YOU HEAR IN
CALIFORNIA IF.
IT'S NOT A IT'S NOT ELSEWHERE
I'M WELL THANK YOU FOR YOUR
PERSPECTIVES REALLY APPRECIATE
IT OUT AT THIS POINT WE WOULD
LIKE TO DO IS.
I'M TRANSITION TO OUR NEXT PANEL
AND SO ALL WHAT LET ME ABOUT
THEM.
OUR NEXT PANELIST AT OUR NEXT
CONVERSATION IS.
ARE THE SUBJECT IS THE DECISION
TO TAKE OUT STUDENT LOANS LET ME
WALK AND MEGAN WAY MEYER.
WHO IS THE CHIEF GOVERNMENTAL
OFFICER?
AT THE ASSOCIATED STUDENTS AT
CSU FULLER.
TEN I DID NOW JONES A STUDENT
TRUSTEE FROM LONG BEACH CITY
COLLEGE DISTRICTS.
LARA'S DUBBO COMMITS THE
ASSOCIATE CALIFORNIA PROGRAM
DIRECTOR. FOR THE INSTITUTE FOR
COLLEGE ACCESS AND SUCCESS.
THANK YOU. TO ALL OF YOU FOR
BEING HERE AND FOR SHARING YOUR
STORIES WITH US.
MEGAN DO WHEN IT KICKS OFF.
CAN YOU JUST GIVE IT A LITTLE TO
NOTHING ON CONTENT MICRONS ARE
HARD OKAY -- THANK YOU AGAIN FOR
THE OPPORTUNITY TO SPEAK AND
SHARE STORIES ON THIS IMPORTANT
ISSUE -- MY NAME IS MAKING ME
MEYER AND I SHOULD MENTION I AM
A THIRTY YEAR CAL STATE
FULLERTON AND I CURRENTLY SERVE
AS THE CHIEF GOVERNMENTAL
OFFICER.
FIRST THE SEATED STUDENTS.
I GREW UP SURROUNDED BY
EXPECTATIONS I WOULD BE GOING TO
COLLEGE.
BOTH OF MY PARENTS HAD NEVER
BEEN THEMSELVES NONE THE LESS
THEY MOTIVATED AND ENCOURAGED ME
THROUGHOUT THE ENTIRE PROCESS.
IN HIGH SCHOOL I FOLLOW THE
COOKIE CUTTER ROAD MAP TO
COLLEGE I WAS A STRAIGHT A
STUDENT WHO PARTICIPATED IN
SEVERAL STUDENT ORGANIZATIONS.
HAD AN INTERNSHIP AND VOLUNTEER
EXPERIENCE.
I EVEN JOINED ALVIN ON MY CAMPUS
WHICH IS A PROGRAM DEDICATED TO
GIVING STUDENTS BOTH THE
EMPOWERMENT AND TOOLS THEY NEED
TO APPLY PREPARE FOR A HIGHER
EDUCATION.
I HAD DONE EVERYTHING RIGHT TO
GET ACCEPTED INTO COLLEGE.
BUT THIS DOESN'T ELIMINATE THE
SIGNIFICANCE OF STICKER SHOCK.
I STILL REMEMBER SEEN AT HOME
WITH MY DAD.
GREEN IN THE CHART OF COLLEGES
THAT I HAD BEEN ACCEPTED.
TO THIS CHART INCLUDED THE
ESTIMATED COST OF ATTENDING THE
UNIVERSITY AND MY ESTIMATED
FINANCIAL AID.
THERE IS NO WAY FOR OP ED OR ANY
PROGRAM TO PREPARE AN AMBITIOUS
STUDENT FOR THE HARSH REALITIES
OF THE COST OF HIGHER EDUCATION.
ULTIMATELY I CHOSE TO ATTEND CAL
STATE FULLERTON FOR A PLETHORA
OF REASONS BUT THE MAIN DECIDING
FACTOR WAS ITS AFFORDABILITY
COMPARED SISTER INSTITUTIONS.
ALMOST IMMEDIATELY I WAS FACED
WITH THE DECISION OF WHETHER OR
NOT TO TAKE OUT STUDENT LOANS.
EVEN SAYING THAT SOUNDS SILLY TO
ME AS IF IT WAS EVER DECISION.
FOR ME AND COUNTLESS OTHER
STUDENTS LOANS WERE NEVER
DECISION BUT RATHER REQUIREMENT
TO OBTAIN A HIGHER EDUCATION.
THIS UP DESPITE RECEIVING A PELL
GRANT A CAL GRANT WORKING TWO TO
THREE JOBS I HAVE TO TAKE OUT
STUDENT LOANS IN ORDER TO AFFORD
NECESSITIES LIKE RENT BOOKS
GROCERIES AND MORE.
IT DIDN'T FEEL LIKE I HAVE ANY
OTHER OPTIONS ARE SUPPORT.
THERE IS NO MANUAL OF WHAT TO DO
WHEN YOU DON'T HAVE ENOUGH MONEY
FOR COLLEGE.
THERE ARE NO INSTRUCTIONS FOR
WHEN YOU'RE FINANCIALLY IT STILL
DOESN'T COVER YOUR COST OF
ATTENDANCE.
I TOOK OUT THE ONES BECAUSE IT
WAS NECESSARY.
BUT I DIDN'T KNOW AND PROBABLY
STILL NOT COMPLETELY UNDERSTAND
WHAT I SIGNED UP.
FOR FINANCIALLY THIS COMPLEX.
YES TYPES OF LOANS INTEREST
RATES DEFERMENT PLANS AND SO ON
I WAS NEVER GIVEN ANY GUIDANCE
AND WHAT'S THE BEST.
LOANS ARE PAYMENT PLANS ARE.
I JUST KNEW THAT I NEEDED THE
MONEY.
MANY STUDENTS IN THE CSU AS WELL
AS THE UC AND COMMUNITY COLLEGE
SYSTEMS HAVE THEIR TUITION FULLY
COVERED BY FINANCIALLY.
THE STUDENTS ARE STILL STUCK
WITH EXTRAORDINARY UNMET NEEDS.
WITH THE FULL TRUE COST OF
ATTENDANCE OFTEN EXCEEDED TWENTY
SEVEN THOUSAND DOLLARS A YEAR
LOW INCOME STUDENTS IN THE CSU
ARE LEFT TO COVER NEARLY FIFTEEN
THOUSAND DOLLARS.
OF A GAP THAT THEIR FINANCIALLY
DOES NOT OFFSET.
IT'S EASY TO PROCESS OFTEN CLAIM
THAT STUDENT SHOULD SIMPLY GET A
JOB OR PAY FOR THIS JOB.
THIS BACK IN MY DAY BACK IN MY
DAY MINDSET THAT STUDENTS CAN
STILL WORK PART TIME TO AFFORD
AN EDUCATION IS SOMETHING I'VE
HEARD FREQUENTLY.
HOWEVER SINCE NINETEEN SEVENTY
NINE TUITION AND FEES IN THE CSU
REST BY.
A 1000310060%.
DURING THE SAME TIME PERIOD FOOD
AND HOUSING RELATED EXPENSES
ALSO INCREASED BY 40%.
THE COST OF COLLEGE IS
DRASTICALLY INCREASE OUR
GENERATIONS.
I AM ONE OF MANY STUDENTS WHO
ARE WORKING TO AN OUTSIDE THREE
JOBS IN ORDER TO A FOR THE COST
OF A DEGREE.
WE DO THIS WHILE SIMULTANEOUSLY
BEING FULL TIME STUDENTS.
WERE ALSO INVOLVED BOTH ON AND
OFF CAMPUS.
I'M STILL A STUDENT TRYING TO TO
DO ALL THE RIGHT THINGS.
AS I MENTIONED I'M WORKING TWO
JOBS I MEAN HOLDEN SIX CROSSES.
I'M INVOLVED IN STUDENT
GOVERNMENT WHERE I CURRENTLY
SERVE AS THE CHIEF GOVERNMENTAL
OFFICER AND REPRESENT OVER FORTY
THOUSAND STUDENTS ON A LOCAL
STATE AND FEDERAL LEVEL.
HOWEVER THERE'S NOT ONE SINGULAR
MODEL SUCCESS IN COLLEGE.
ITS SUCCESS WORKING ENOUGH TO
PAY MY RENT AND TUITION AND
THEREFORE LOSING TIME TO STUDY
OR SUCCESS CUT IN A COUPLE OF
WORK HOURS TO STUDY. FOR MY
EXAMS AND THEREFORE HAVING TO
SKIP GROCERY SHOPPING FOR THE
WEEK.
DECISIONS AND SACRIFICES LIKE
THESE ARE MY STUDENT LOAN STUFF
LIKE A DECISION TO ME.
ALTHOUGH STUDENT WANTS TO HELP
ME PROCESS PURSUE MY DREAMS AND
OBTAIN A HIGHER EDUCATION IT HAS
COME WITH A COST.
I CURRENTLY TAKE OUT BOTH
FEDERALLY SUBSIDIZED AND SUBSIDY
UNSUBSIDIZED LOANS.
ADDITIONALLY IN ORDER TO AFFORD
THE HIGH COST OF LIVING ON
CAMPUS MY FRESHMAN YEAR.
I TOOK OUT A PRIVATE STUDENT
LOAN.
ALTOGETHER THIS ADDS UP TO A
GRAND TOTAL OF 210-005-0020 ONE
DOLLARS AND I'M ONLY IN MY THIRD
YEAR OF COLLEGE.
I WILL HAVE TO PAY THESE BACK.
AFTER GRADUATION WITH INTEREST.
THE PRIVATE ONE HOBBY NEARLY 11%
INTEREST RATE.
THE CONSEQUENCES OF THESE LOANS
LAST BEYOND OUR TIME IN COLLEGE.
I'LL BE TAKING YEARS POST
GRADUATION TO PAY OFF MY
EDUCATION.
AND TO BE HONEST I STILL HAVE NO
IDEA WHAT THAT LOOKS LIKE.
WHY MAKE ENOUGH MONEY TO PAY
THEM OFF?
WHY BE ELIGIBLE FOR POTENTIAL
LOAN FORGIVENESS PROGRAMS WHAT
HAPPENS IF I CAN'T PAY THEM OFF?
I CAN'T WORRY ABOUT THESE
QUESTIONS FOR TOMORROW BECAUSE
I'M BUSY WORRIED ABOUT HOW TO
MAKE AND IT'S HOW TO MAKE ENDS
MEET TODAY.
THESE BURDENS ARE
DISPROPORTIONATELY IMPACTING LOW
INCOME STUDENTS TO THESE
INSTITUTION INSTITUTIONS CLAIM
THEY SERVE.
I THINK A LOT ABOUT THREE ALMOST
FOUR YEARS AGO WHEN I WAS TRYING
TO DECIDE WHERE TO GO TO COLLEGE
MY DECISION WAS ARE LARGELY
SWAYED BY MONEY.
DESPITE MY AMBITIONS AND
ABILITIES.
DESPITE THE FACT THAT I CHOSE
THE MORE AFFORDABLE OPTION.
I AM STILL STUCK IN STUDENT
LOANS AND STRUGGLE TO BALANCE
BEING A FULL TIME STUDENTS WHO
STUDENT WHO WORKS SEVERAL JOBS.
STUDENTS SHOULD I HAVE TO MAKE
SACRIFICES AND TAKE ON MY PHONE
BURDENS TO OBTAIN SOMETHING NOW
MORE NECESSARY.
THIS OPPORTUNITY AND ITS
BENEFITS SHOULD BE AVAILABLE TO
ANYONE WILLING TO LEARN AND WORK
HARD.
NOT JUST THOSE WHO ARE
PRIVILEGED ENOUGH TO HELP THE
MEANS.
TOGETHER WE NEED TO FIND THE
ADDRESS THE STUDENT DEBT CRISIS
LIKE MANY TO COMPREHENSIVE
FINANCIALLY REFORM.
UNLESS YOU PROVIDE STUDENTS LIKE
ME WITH THE RESOURCES NECESSARY
TO SIMPLY SURVIVE COLLEGE THAT.
THIS CRISIS WILL ONLY WORSEN.
THANK YOU AND YEAH I I
ABSOLUTELY AGREE WITH YOU THAT
WE DO NEED TO LOOK AT
COMPREHENSIVE FINANCIAL AID
REFORM AND THANK YOU.
FOR YOU FOR SHARING YOUR
PERSPECTIVE AND DAN.
I THINK ONE THING.
IT'S ALWAYS EASY FOR IT'S EASY
FOR THE STORIES GET LOST WHEN WE
SAY THINGS LIKE.
WE'VE GOT THREE POINT SEVEN
MILLION BORROWERS AND ONE
HUNDRED AND FORTY ONE BILLION
DOLLARS.
IN DEBT FIVE HUNDRED THOUSAND
PEOPLE DEFAULTING IT.
SOUNDS SCARY AND MASSIVE BUT
IT'S SO SO IMPORTANT I THINK FOR
US. TO BE ABLE TO PUT A PERSONAL
ON A HUMAN FACE ON IT.
I THINK THAT'S WHAT REALLY
GALVANIZES POLICYMAKERS.
TO FOCUS ON ON ISSUES AND AND
DEFINING SOLUTIONS [INAUDIBLE]
SURE.
GOOD MORNING AND THANK YOU FOR
INVITING ME TO JOIN YOU TODAY.
COLLEGE ACCESS AND SUCCESS IS A
NONPARTISAN NONPROFIT RESEARCH
AND POLICY ORGANIZATION BASED IN
OAKLAND.
I SERVICE ORGANIZATIONS
ASSOCIATE CALIFORNIA PROGRAM
DIRECTOR AND LEAD ITS COALITION
OF CALIFORNIANS FOR COLLEGE
AFFORDABILITY.
OUR MISSION IS TO IMPROVE
EDUCATIONAL OPPORTUNITY EQUITY
IN OUTCOMES NATIONALLY AND IN
CALIFORNIA SO THAT MORE STUDENTS
CAN COMPLETE MEANING FOR POST
SECONDARY CREDENTIALS WITHOUT
BURDENSOME DEBT.
WE VERY MUCH APPRECIATE THIS
COMMITTEES FOCUS ON HOW THE
STATE CAN IDENTIFY AND IMPLEMENT
SOLUTIONS TO ALLEVIATE HAVING
STUDENT DEBT BURDENS THAT TOO
MANY CALIFORNIANS KERRY. TO
ADDRESS THIS ISSUE AND IT'S
REALLY ABOUT REQUIRE AND SEVERAL
OTHERS HAVE ALREADY MENTIONED
THE STATE TO BETTER ENSURE THAT
STUDENTS HAVE THE FINANCIAL
ASSISTANCE. TO BE SUCCESSFUL
WITHOUT HAVING TO BORROW WORK
EXCESSIVELY IN THE FIRST PLACE.
DECADE TAKEN THINGS HAVE SHOWN
THAT DESPITE THE LONG STANDING
FOCUS ON LOW TUITION AND
GENEROUS FINANCIAL PROGRAMS THAT
COVER TUITION.
REASONS TO BE CONCERNED ABOUT
COLLEGE AFFORDABILITY IN
CALIFORNIA. FOR TUITION
INSURANCE STUDENTS CAN RUN
COLLEGE. TO SUCCEED IF WE CANNOT
AFFORD THE COST BEYOND IT.
INCLUDING GAS TO GET TO CAMPUS
TEXT BOOKS FOR COURSE WORK IN A
SAFE PLACE TO LIVE.
FREQUENTLY BORROWING LOANS TO
FILL THE GAP ON AFFORDABLE
COLLEGE COSTS ARE KEY DRIVERS OF
STUDENT DEBT.
I WAS SHOWN THE CALIFORNIANS
WITH INCOMES UNDER THIRTY
THOUSAND DOLLARS AND WALDRON
PUBLIC COLLEGES HAVE TO SPEND
ABOUT HALF OR MORE OF THEIR
INCOME. TO COVER COLLEGE COSTS
AFTER ACCOUNTING FOR GRANT AID.
WHAT IS NOT EASILY AFFORDABLE
FOR MANY STUDENTS THESE DAYS THE
SHARES OF INCOME EXPECTED FROM
THESE LOW INCOME STUDENTS IS
MORE THAN DOUBLE THE SHARE IS
NEEDED FROM ANY OTHER INCOME
GROUPS?
ANALYSIS FOUNDED IN REGIONS
ACROSS THE STATE THE COMMUNITY
COLLEGE WAS THE MOST EXPENSIVE
PUBLIC COLLEGE OPTION FOR
STUDENTS FROM FAMILIES MAKING
LESS THAN THIRTY THOUSAND
DOLLARS A YEAR.
IN OTHER WORDS THE LOWEST
MISSION COLLEGE IS NOT THE
LOWEST COST COLLEGE FOR STUDENTS.
THAT IS BECAUSE NINE TUITION
COLLEGE COSTS MAKE UP THE
MAJORITY OF TOTAL COSTS THAT
CALIFORNIA PUBLIC COLLEGES AND
UNIVERSITIES WHERE THE VAST
MAJORITY OF THE STATE'S COLLEGE
STUDENTS AND ROLL.
WITH THE STATE EIGHT POLICIES
DESIGNED PRIMARILY TO COVER
TUITION LOW INCOME STUDENTS
ENROLLED AT LOWER TUITION
COLLEGES RECEIVE FAR LESS
FINANCIALLY. TO ILLUSTRATE WHAT
THE TOTAL COST OF COLLEGE OR
5656% HIGHER AT YOU SEE THAT
COMMUNITY COLLEGE.
THERE IS MORE THAN 3100% MORE
GRANT AID AVAILABLE TO YOU SEE
STUDENTS AND THEIR COMMUNITY
COLLEGE PEERS.
WHAT?
THE TINO STUDENTS THREE AND FIVE
NATIVE AMERICAN STUDENTS AND
ALMOST TWO THIRDS OF BLACK
STUDENTS COME FROM FAMILIES
MAKING LESS THAN THIRTY THOUSAND
DOLLARS ANNUALLY.
THESE COLLEGE AFFORDABILITY
CHALLENGES ALSO RAISE
SUBSTANTIAL EQUITY CONCERNS WHEN
IT COMES TO BOTH STUDENT DEBT
BURDENS AND COLLEGE COMPLETION.
FOR OVER A DECADE WE HAVE
TRACKED THE RATE AT WHICH
COLLEGE GRADUATES LEAVE SCHOOL
WITH DAD.
IN CALIFORNIA HAS CONSISTENTLY
COMPARED FAVORABLY TO OTHER
STATES.
OVERALL AMONG PUBLIC AND
NONPROFIT FOUR YEAR COLLEGES IN
CALIFORNIA CALIFORNIA HAS THE
FIFTH LOWEST AVERAGE DEBT
GRADUATION AT ABOUT TWENTY THREE
THOUSAND DOLLARS.
THERE ARE NO DATA AVAILABLE FOR
BACHELORS DEGREE GRADUATES FROM
CALIFORNIA FOR PROFIT COLLEGES
AS THEY DO NOT SUPPORT THE
NECESSARY DATA.
HOWEVER NATIONAL DATA SHOW THAT
FOR PROFIT COLLEGE GRADUATES ARE
FAR MORE LIKELY TO LEAVE SCHOOL
ATTACK AND HAVE 41% MORE ON
AVERAGE.
ALSO OF NOTE MORE THAN HALF OF
ALL CALIFORNIA LOAN DEFAULTERS
ATTENDED FOR PROFIT SCHOOLS.
DESPITE CALIFORNIA'S RELATIVELY
GOOD STANDING COMPARED TO OTHER
STATES ARE ANALYSES HAVE ALSO
SHOWN THAT THE BURDEN OF DEBT IS
NOT BORING EVENLY AMONG
CALIFORNIA GRADUATES.
WHEN WE DIG DEEPER WE FIND THAT
UNDERREPRESENTED STUDENTS ARE
MORE LIKELY TO HAVE TAKEN ON
THAT?
ALL RIGHT NOW WITH THE
UNIVERSITY OF CALIFORNIA STUDENT
ASSOCIATION FOUND THAT WHILE
ABOUT HALF OF ALL UC GRADUATES
IN TWO THOUSAND SEVENTEEN
EIGHTEEN HAD A CURRENT STUDENT
AT TWO THIRDS OF AFRICAN
AMERICAN AND LATINO GRADUATES
HAD DEBT COMPARED 240% OF WHITE
GRADUATES.
MOREOVER THE LOWEST INCOME
GRADUATES ARE MORE THAN THREE
TIMES AS LIKELY TO BORROW AT
THEIR HIGHEST IN COMPUTERS.
ALL RIGHT NOW SEASON OF CSU
GRADUATES REPEAL SIMILAR TRENDS
WITH STUDENTS OF COLOR ARE MORE
LIKELY TO BORROW IN TWO THIRDS
OF GRADUATES WITH DEBT COMING
FROM FAMILIES THAT MAKE LESS
THAN TWENTY SEVEN THOUSAND
DOLLARS ANNUALLY.
WHAT THE FOCUS OF TODAY'S
HEARING IS ON STUDENT DEBT IT IS
IMPORTANT TO RECOGNIZE THAT SOME
STUDENTS CHOOSE TO BORROW IN THE
FACE CHOOSE NOT TO BORROW IN THE
FACE OF ON AFFORDABLE COLLEGE
COSTS? FOR THOSE WHO CHOOSE NOT
TO BORROW EXCESSIVE WORK HOURS
MAY BE NECESSARY TO COVER TOTAL
COLLEGE COSTS.
ARE AFTER MENTION ANALYSIS ON
LOW INCOME STUDENTS NET COSTS
FOUND THAT AFTER AVAILABLE GRANT
AID ALL WE HAVE TO WORK MORE
THAN FIFTEEN TO TWENTY HOURS PER
WEEK TO COVER TOTAL COLLEGE
COSTS.
AND AT SEVERAL COLLEGES THE
NUMBER OF WEEKLY WORK HOURS
NEEDED EXCEEDED.
THIRTY WE SEE THIS HARMFUL
TRENDS BECAUSE TOO MANY
CALIFORNIANS ARE BEING LEFT OUT
OF STATE FINANCIAL AID AND THOSE
WHO DO RECEIVE GRANTS OFTEN GET
TOO LITTLE OF IT.
WELL THE CAL GRANT PROGRAMS WELL
DESIGNED TO REACH COLLEGE BOUND
HIGH SCHOOL GRADUATES THE
OVERWHELMING MAJORITY OF
ELIGIBLE APPLICANTS WHO ARE
RETURNING TO SCHOOL MORE THAN
ONE YEAR AFTER HIGH SCHOOL.
DO NOT RECEIVE GRANTS AND MOST
OF THEM HAVE INCOMES SO WELL
WITH THE FEDERAL GOVERNMENT IS
NOT EXPECTED TO CONTRIBUTE
FINANCIALLY TO THEIR EDUCATION.
AND FOR THOSE WHO DO RECEIVE A
GRANT.
THE VALUE OF THE ACCESS AWARD
THAT HELP STUDENTS PAY FOR NON
TUITION COSTS IS WORTH LESS THAN
ONE QUARTER OF ITS ORIGINAL
VALUE.
THAT IS WHY WE GET MORE THAN TWO
DOZEN OTHER ORGANIZATIONS HAVE
BEEN CALLING FOR INCREASES TO
THE NUMBER OF CAL GRANTS
AVAILABLE IN FOR THE AMOUNT OF
AID THAT STUDENTS GOT TO COVER
NON TUITION COSTS. TO BEAR SOME
RESEMBLANCE TO THE COST THEIR
INCURRING AND THE ABILITY TO PAY
FOR THEM.
AT THIS POINT THERE IS A STRONG
CONSENSUS ABOUT HOW TO ADDRESS
THIS COLLEGE AFFORDABILITY
CRISIS REFLECTED IN LEGISLATIVE
PROPOSALS. TO REFORM STATE
FINANCIALLY IN BOTH THE ASSEMBLY
AND THE SENATE WHILE MANY
DETAILS ARE STILL BEING WORKED
THROUGH COLLEGE AFFORDABILITY
ADVOCATES AGREE THAT THE STATE
SHOULD TAKE ON TOTAL COLLEGE
COSTS.
AND EXPECTED STUDENTS AND
FAMILIES WOULD MAKE FINANCIAL
CONTRIBUTIONS THAT ARE
REASONABLE.
THE REST WOULD BE COVERED BY
FEDERAL COLLEGE IN AND STATE
GRANT EIGHT AB THIRTEEN FOURTEEN
FROM ASSEMBLY MEMBER MEDINA AND
MCCARTY WOULD REFORM THE STATE
CAL GRANT PROGRAM TO SERVE OUR
STUDENTS AND BETTER COVER TOTAL
COLLEGE COST OF ATTENDANCE.
PROVIDING A DEBT FREE CAN'T PATH
TO A DEGREE.
FINALLY EVEN MORE IMMEDIATELY
CURRENT BUDGET NEGOTIATIONS
PROVIDE OPPORTUNITY TO MAKE
STRIDES ON THE AVAILABILITY
AVAILABILITY OF NEED BASED
FINANCIAL AID.
THE GOVERNOR AND BUDGET
SUBCOMMITTEE IS IN BOTH THE
SENATE AND ASSEMBLY HAVE ALL
SIGNALED SUPPORT FOR INCREASED
FINANCIAL INVESTMENTS AS A DOWN
PAYMENT TOWARDS LARGER REFORM
EFFORTS TO BE PHASED IN IN THE
COMING YEARS.
SUCH IMMEDIATE INVESTMENTS
PROPERLY TARGETED WOULD MAKE AN
IMMEDIATE DIFFERENCE IN THE
ABILITY OF CALIFORNIANS TO GET
TO AND THROUGH COLLEGE WITHOUT
BURDENSOME LEVELS OF STUDENT AT
HE GETS IN OUR COALITION
RECOMMEND THAT NEW INVESTMENTS
BE SPENT TO INCREASE THE NUMBER
OF COMPETITIVE CAL GRANTS AND TO
INCREASE THE SIZE.
OF THE GRANT THAT HELPS LOW
INCOME STUDENTS COVER NOT
TUITION COSTS.
THANK YOU FOR THE OPPORTUNITY TO
SPEAK WITH YOU TODAY AND FOR ALL
YOU ARE DOING TO STRENGTHEN
COLLEGE AFFORDABILITY AND REDUCE
STUDENT DEBT BURDENS.
THANK YOU AND YOU YOU SAID YOU
HIGHLIGHTED SOME OF THE THINGS
THAT WE ARE WORKING ON I IN THE
LEGISLATURE RIGHT NOW I'M.
THIS GOVERNOR HAS ANNOUNCED.
THAT HE IS.
EXTRAORDINARILY COMMITTED TO
EDUCATION ACCESS FROM FROM
CRADLE TO CAREER AND I'M WE ARE
LOOKING AT HIS STARK INVESTMENTS
NOT JUST IN THE CAPE THREE
COLORING A BUT IN.
HIGHER EDUCATION -- BECAUSE AS
YOU SAID.
THIS IS AN INVESTMENT.
IT'S AN INVESTMENT IN IN THE
NEXT GENERATION AND AND FRANKLY
IT'S AN INVESTMENT IN.
THE CONTINUED SUCCESS OF OF
CALIFORNIA AND I DO THINK THAT
THAT IS THE ORIENTATION THAT THE
LEGISLATURE HAS AS WERE
GRAPPLING WITH.
HOW DO WE HOW DO WE MAKE
INVESTMENTS NOW AND HOW DO WE
FACE AND MORE MORE COMPREHENSIVE
REFORMS?
SO THANK YOU I'M. TO KNOW JEN'S.
THE MORNING OF LEVEL OF
HELLO
HELLO CAN YOU HEAR ME NOW.
ALL RIGHT.
AWESOME -- WHICH WOULD LEAVE
OFFICE.
IF ANYONE [INAUDIBLE]
FORBEARANCE THANK.
YOU GUYS ARE GREAT -- THE TWO
MET QUALIFIED FOR FOR MARRIAGE
WHICH MEANT THAT I WOULD NOT BE
RESPONSIBLE TO MAKE PAYMENTS.
FOR THE TIME BEING AND THAT THEY
COULD START THE PROCESS
IMMEDIATELY. TO KEEP MY LOAN
FROM GOING INTO DEFAULT.
I WAS NOT INFORMED OF ANY OTHER
OPTIONS.
THE ONLY THING I TOOK MY
CONVERSATION.
WAS THAT.
I WOULD HAVE TO MAKE PAYMENTS.
SO I TOLD THEM SIGN ME UP FOR
THE BARE HANDS.
THEY PROCEEDED TO RATTLE OFF A
BUNCH OF FINE PRINT JARGON --
BREAKNECK SPEEDS NONE OF WHICH I
UNDERSTOOD AND BOOM LIKE MAGIC I
WAS NO LONGER IN THE FOR
PAYMENTS I COULDN'T AFFORD.
OR SO I THOUGHT.
ULTIMATELY MY LOANS WHEN IS
DEFAULT.
FAST FOR NINE YEARS TO PRESENT
DAY.
I WAS FINALLY ABLE TO
SUCCESSFULLY ROLE COLLEGE FULL
TIME.
I'VE COMPLETED MY FIRST TWO
YEARS AND IT APPEARING TO
TRANSFER THE UNIVERSITY THIS
FALL.
I DIDN'T BOTHER TO APPLY FOR
FAST WHEN I ROLLED ALONG WITH
CITY COLLEGE.
BECAUSE I KNEW I WOULD QUALIFY
FOR FINANCIAL AID DUE TO MY
DEFAULTED STUDENT LOANS THAT IS.
AS SUCH I PAID OUT OF POCKET FOR
BOTH MY OWN MY OWN AND MY WIFE'S
TUITION.
IT WAS MANAGEABLE IN THE
BEGINNING BECAUSE I WAS WORKING
TWO PART TIME JOBS.
PLUS MOONLIGHTING AS A NEW
DRIVER LIFT DRIVER INDOOR TEST
DRIVER -- LAST YEAR HOWEVER I
LOST BOTH MY JOBS.
IN MY ABILITY TO FOR COLLEGE
TUITION FOR TO VIRTUALLY
VANISHED.
JUST THREE WEEKS AGO.
I ACCOMPANIED MY WIFE. TO THE
CASHIER'S OFFICE WITH THE MONEY
THAT WAS INTENDED FOR RENT. TO
MAKE A PARTIAL PAYMENT ON HER
ACCOUNT.
SO THAT SHE WOULD NOT BE DROPPED
FROM REQUEST FOR NON PAYMENT --
AND WE BEG THE CASHIER TO IS TO
ASSURE US THAT IF WE MADE THIS
PAYMENT.
THAT YOU WOULD BE ABLE TO REMAIN
IN OUR CLASSES EVEN IF IT COST
US.
A ROOF OVER OUR HEAD.
I WAS FORTUNATE ENOUGH HOWEVER --
TO QUALIFY FOR THE A. B. --
NINETEEN WEAVER I WAS TOLD IF I
JUST FULL OF THE FAST WHEN
FORTUNATELY WE WERE GRANTED THAT
IN THAT.
GIVE US A MUCH NEEDED RELIEF.
IN FEBRUARY OF THIS YEAR A
RESULT TO THE DEPARTMENT OF
EDUCATION TO FIGURE OUT WHAT I
CAN DO.
TO QUALIFY FOR FINANCIAL AID
AGAIN.
BECAUSE THE BURDEN WAS JUST TOO
TOO MUCH.
I WAS DIRECTED TO A COLLECTION
AGENCY.
WHO TOLD ME ABOUT THE LOAN
REHABILITATION PROGRAM?
I TOLD ABOUT MY CURRENT
FINANCIAL SITUATION AND THEY
WERE ABLE TO SET ME UP WITH
PAYMENTS THAT EVEN I COULD
AFFORD.
AND I AM ACTIVELY WORKING TO GET
OUT OF DEFAULT.
HOPEFULLY IF EVERYTHING I'VE
BEEN TOLD IS TRUE BUT SHOULD BE
ABLE TO QUALIFY FOR FINANCIAL
AID AGAIN.
BY THIS TIME NEXT MONTH.
WHAT THE MORAL OF THE STORY?
IS THAT ACQUIRING AN EDUCATION.
SHOULD NOT BE THIS DIFFICULT.
WE UNDERSTAND THAT THE ROAD IS
IS IS LONG AND HARD.
AND AND SALAS SAID YOU KNOW WE
ARE UP TO THE CHALLENGE.
HOWEVER I JUST TURNED THIRTY IN
FEBRUARY OF THIS YEAR AND
ECONOMICALLY I AM BEHIND MANY OF
MY PEERS.
SIMPLY BECAUSE I DID NOT HAVE
ADEQUATE FUNDS OR KNOWLEDGE TO
NAVIGATE THE HIGHER EDUCATION
SYSTEM.
RIGHT OUT OF HIGH SCHOOL.
EVEN NOW MY ABILITY TO MOVE
FORWARD ON A JOURNEY AS SET UP
ON OVER NINE YEARS AGO.
IS IN JEOPARDY.
AS A RESULT OF THIS DEFICIENCY.
I KNOW THAT I AM NOT THE ONLY
ONE WITH THIS STORY WITH A
SIMILAR STORY.
BECAUSE I JUST CAME BACK FROM
THE STUDENT SENATE OF CALIFORNIA
COMMUNICABLE JUST.
WHERE WE TALKED ABOUT THE ISSUE
OF COLLEGE AFFORDABILITY AND
ACCESS [INAUDIBLE]
EXHAUSTIVELY.
WE WERE ECSTATIC TO LEARN ABOUT
THE LEGISLATION THAT SENATOR
CONNIE LEIVA.
AND SEVERAL OF OUR COLLEAGUES
CHAMPION TO ADDRESS THE ISSUE
COLLEGE AFFORDABILITY.
WOULD SENATE BILL.
TWO NINETY ONE WE CELEBRATED
ASSEMBLY MEMBER CHRIS HOLDEN IN
THIS COLLEAGUES WHO HAVE BEEN
ACTIVELY ATTEMPTING TO ADDRESS
THE ISSUE OF ACCESS.
AND TRANSPORTATION FOR
CALIFORNIA COLLEGE STUDENTS.
AND WE APPLAUD YOU TODAY.
CHEER YOU NORTH.
FOR BEING COGNIZANT OF IN
RESPONDING.
TO THE STUDENT DEBT CRISIS THAT
PLAGUES OUR STUDENTS TODAY.
HELP US SUCCEED.
THANK YOU FOR YOUR TIME.
THANK YOU.
I THINK ACTUALLY HE SAID THE
MORE OF YOUR STORY WAS THAT
GETTING AN EDUCATION JUST SHOULD
NOT BE THIS HARD THERE'S IN
THEIR SEVERAL MORALS OF YOUR
STORY BECAUSE THEY THINK.
THAT.
YOUR EXPERIENCES HIGHLIGHTS.
I THINK SO MANY ELEMENTS THAT
ARE BROKEN.
AND I THINK.
THERE THERE ARE SOME ELEMENTS
THAT ARE THAT ARE BROKE AND AND
YOU KNOW THAT WE'RE NOT IN A
GOOD ENOUGH JOB EXPLAINING
OPTIONS TO PEOPLE ARE LEADING
THEM THROUGH THE PROCESS.
AND THEN I THINK WHAT WOULD IS
VERY UPSETTING IS AND THERE'S
ALSO THESE BAD ACTORS WHO ARE
ABSOLUTELY.
PROFITEERING FROM THE AT LACK OF
INFORMATION THE LACK OF GOOD
INFORMATION THAT'S OUT THERE AND
SOME OF THESE FOR PROFIT
COLLEGES.
IN YOU HAVE TAKEN ADVANTAGE OF
YOU AND TAKING ADVANTAGE AS
PEOPLE ALL ACROSS THE STATE AND
ALL ACROSS THE COUNTRY.
AND AS YOU MAY BE AWARE WE HAVE
A PACKAGE OF BILLS -- MOVING
THROUGH THE LEGISLATURE RIGHT
NOW THEY'RE SEVEN BILLS THAT ARE.
I'M LOOKING TO ADDRESS SOME OF
THE BIG ISSUES AROUND FOR PROFIT
COLLEGES AND AND ENSURE THAT
WE'VE GOT.
BETTER CONSUMER PROTECTIONS AS
PART OF THAT SO.
YEAH AS IN EVERYTHING NOT ALL
FOR PROFIT COLLEGES -- ABOUT
ACTORS BUT THERE ARE SOME.
THAT ARE AND WE NEED TO MAKE
SURE THAT -- THEY'RE NOT MAKING
AN ALREADY REALLY TOUGH SITUATE
SITUATION EVEN WORSE A COUPLE OF
QUESTIONS I'M IN A FIRST FOR YOU.
TOO SO AT AND I THINK A I KNOW
THE ANSWER.
TO DID YOU RECEIVE A FINANCIAL
AWARD LETTER.
WHEN YOU WERE CONSIDERING OUR
OPTIONS DID YOU RECEIVE ANY SORT
OF LETTER?
THAT YOU'RE ABLE.
TO LOOK AT A RADIO. FOR ME IT
WAS ON OUR LIKE STUDENT PORTAL
YOU COULD GO IN THERE TO SEE
YOUR FINANCIAL AID OFFERS -- AND
THEN IT WAS REALLY LIKE.
THERE IT THE GRANTS THAT I WAS
OFFERED AND THEN THE STUDENT
LOANS AND LIKE ACCEPTING THE
SENATE WANTS IS REALLY JUST AS
EASY AS LIKE PRESSING THE BUTTON
THAT SAID EXCEPT -- AND SO I
THINK LIKE A BIG PART OF IT --
EVERYONE EACH PANELIST TOUCHED
ON IS NOT REALLY KNOWING WHAT
YOU'RE SIGNING UP.
FOR AND LIKE EVEN NOW LIKE WHEN
I'M TALKING ABOUT -- THESE
DIFFERENT LOANS I DON'T
COMPLETELY UNDERSTAND THE
PROCESS OF PAYING THEM BACK LIKE
TALKING ABOUT FORBEARANCE AND
STUFF LIKE THAT I WAS LIKE I
DON'T KNOW THAT MEANS SO -- I
THINK THERE IS. FOR ME IT WAS
REALLY JUST LIKE THIS IS MONEY
IN FRONT OF ME THAT I NEED TO
USED TO PAY FOR COLLEGE AND
THAT'S WHY I DID AND I DID I
THOUGHT IT DIDN'T HAVE ANY OTHER
OPTIONS.
BUT THERE WAS NO.
GUIDANCE OR ASSISTANCE TO
EXPLAIN WHAT IT MEANT TO TAKE
OUT THESE LOANS HOW TO PAY THESE
LOANS BACK -- WAYS TO LIKE THE
DIFFERENCES BETWEEN SUBSIDIZED
UNSUBSIDIZED LOANS IT WAS REALLY
JUST LIKE ME GOING ON GOOGLE
TRYING TO FIGURE IT OUT.
SO -- FOR MYSELF -- I I RECEIVED
SEVERAL OFFERS FOR THE
INSTITUTION THAT I APPLIED -- TO
HOWEVER NONE OF THEM WERE ABLE
TO OFFER ME OR TO SHOW ME WHAT
MY OFFER WOULD BE BECAUSE OF MY
DEFAULTED STUDENT LOANS THAT IS.
AB AND AT FOR YOU MS ZAPCO
CUBITS.
I'M SO WHAT ARE YOU AWARE OF
THAT THE I'M STATE STUDENT AID
COMMISSION TO SEE SACK IS
ACTUALLY DOING TO SUPPORT
STUDENTS.
SO THEY HAVE.
A BUNCH OF THINGS SO -- NUMBER
ONE THEY ARE DOING THEIR SEARS
SURVEY AGAIN WHICH HADN'T BEEN
DONE I THINK ABOUT TWELVE YEARS --
TO A SURVEY STUDENTS AND GET A
BETTER UNDERSTANDING OF WHAT THE
REAL TRUE COST OF COLLEGE ARE --
AND THEY ALSO ARE -- THEY'VE
ADOPTED PRINCIPLES THAT ITALY
WAS BACK IN NOVEMBER TO LOOK AT
TOTAL COLLEGE COSTS AND ENSURE
THAT.
MORE STUDENTS ARE ELIGIBLE WHO
AREN'T GETTING GRANTS ARE
GETTING GRANTS SO I KNOW THAT
THEY'RE WORKING VERY CLOSELY
WITH -- LEADERSHIP TO ENSURE
THAT WE CAN GET TO A PLACE WHERE --
COLLEGE AFFORDABILITY IS
STRENGTHENED IN OUR STATE.
AT SO IT IS YOU MAY.
BE AWARE TO SEE SACK I THINK CAN
SOMETIMES IT CAN SEEM LIKE A
BLACK HOLE FOR FOR STUDENTS
NAVIGATES AND IT TRYING TO
FIGURE OUT INFORMATION ABOUT
ABOUT STUDENT LOANS AND WHAT'S
AVAILABLE WHAT.
YEAH WHAT'S INVOLVED BUT IT
WOULD BE THINGS ACTUALLY MEAN
AND THINGS ACTUALLY VERY MUCH TO
NEXT GENS.
LEADERSHIP THE GOVERNOR'S BUDGET
PROPOSAL DOES INCLUDE A FIVE
MILLION DOLLAR ALLOCATION TO
HELP.
FILL THAT BLACK HOLE AND PROVIDE
BETTER MORE ACCESSIBLE
INFORMATION SAID RATHER THAN IT
BEING KIND OF AN AFTER THOUGHT
OR SORT OF A YOU KNOW HINTS AND
TIPS.
THAT IT'S IT'S A REALLY COR PART
AS OF PLANNING. FOR WORK COLLEGE
ARE THERE ANY SPECIFIC THINGS SO
IF IF THE SITE DOES HAVE FIVE
MILLION DOLLARS TO SPEND TO DO A
BETTER JOB.
EXPLAINING THE PROCESS TO
STUDENTS YOU KNOW ARE THERE ANY
SPECIFIC THINGS THAT YOU WOULD
LIKE TO SEE.
THEM DO YOU WITH THOSE RESOURCES
YEAH I MEAN I WOULD LOVE TO SEE
THEM AND MAKE SURE THE
INFORMATION IS PROVIDED TO SHOW
THAT FEDERAL LOANS ARE BY FAR
THE SAFEST FORM OF BORROWING
OVER PRIVATE LOANS THAT THEY
COME WITH.
CONSUMER PROTECTIONS THAT
PRIVATE ONES DON'T COME WITH
LIKE INCOME DRIVEN REPAYMENT
PUBLIC SERVICE LOAN FORGIVENESS.
BACK IN -- TWO THOUSAND FIFTEEN
THERE WAS A BILL THAT WAS
ENACTED BY ASSEMBLY MEMBER
MEDINA AB SEVEN TWENTY ONE WHICH
ON DOES REQUIRE CERTAIN COLLEGES
TO LET STUDENTS KNOW IF THEY
HAVE UNTAPPED FEDERAL AID.
ELIGIBILITY SO -- I THINK
CONNECTING -- THAT MANDATE WITH
ON CONTINUING TO PROVIDE MORE
INFORMATION TO STUDENTS ABOUT
THE RESOURCES THAT ARE AVAILABLE
ON THE SAFEST WAYS TO BORROW --
IS IS REALLY IMPORTANT AND ALSO
MAKING SURE THAT STUDENTS ARE
AWARE OF THAT NEED BASED AID
THAT'S AVAILABLE -- RIGHT NOW
THEY'RE ON WITH THE CAL GRANT
PROGRAM THERE IS THAT IT MARCH
SECOND DEADLINE TO GET AN
ENTITLEMENT GRANT AND HOPEFULLY
WITH ON THE ON GOING REFORM
EFFORTS WILL BE ABLE.
TO BROADEN HIS ACTUALLY ABLE TO
RECEIVE A CAL GRANT BUT UNTIL
THAT HAPPENS I ALSO HOPE PEOPLE
KNOW THAT ON THERE IS THAT
DEADLINE IF THEY APPLY.
ON TIME AND THEY MEET BASIC
ELIGIBILITY CRITERIA THEY WOULD
BE ENTITLED TO A GRANT.
AND IN TERMS OF THAT AND CAL
GRANT EXPANSION THAT THAT WE'RE
TALKING ABOUT THE ONE THING I I
WANT TO HIGHLIGHT IS IS JUST HOW
POWERFUL STUDENT ADVOCACY I
THINK HAS BEEN ON THAT ISSUE.
I'VE HAD STUDENTS.
BUSY MY OFFICES AND OFFICES YOU
KNOW ALL ACROSS THE CAPITAL
FRIEND FROM UCI FROM.
YOU KNOW FROM OUR COMMUNITY
COLLEGES FROM COLLEGES ALL
ACROSS THE STATE.
AND NOT MAKES A POWERFUL
DIFFERENCE AND I THINK THAT.
IT WE ALL KNOW THAT.
POLITICIANS LISTEN.
TO THE PEOPLE THAT ARE
ADVOCATING AND I THINK THAT
SOMETIMES AGAIN I'M USUALLY
ASSEMBLY THAT.
NO ONE PERSPECTIVE I HAVE IS I
THINK ONE REASON THAT THIS ISSUE
HAS NOT RECEIVED.
ENOUGH ATTENTION IN THE
ATTENTION THAT IT SHOULD IS
BECAUSE STUDENTS AREN'T ALWAYS
SEEN AS A POLITICALLY ENGAGED
PART OF THE COMMUNITY AND SO I
THINK.
THE WAY THAT WERE SEEN MORE
STUDENT ENGAGEMENT MORE STUDENT
ADVOCACY.
IT'S RAISING THIS AS AN ISSUE
AND IT'S RAISING AS A
CONVERSATION AND IT'S GOING TO
GET.
FOCUS AND ATTENTION AND AND
WE'RE GOING TO SEE SOLUTIONS BUT
IT'S SO IMPORTANT THAT.
THE STUDENT ADVOCACY PIECE IS IS
PART OF THAT.
VERY MUCH AGREED.
RIGHT WELL THANK YOU SO MUCH FOR
AND FOR SHARING YOUR STORIES
REALLY APPRECIATE YOU BEING HERE
WITH US TODAY.
I'M WE'RE GONNA.
DO A SWAP ARE WE GONNA GET RANDY
ON THE SCREEN OR ON THE PHONE --
OKAY WITH IT WITH A VIRTUAL
VIRTUAL PRESENTER NEXT.
RANDI WEINGARTEN IS THE AT
PRESIDENT OF THE AMERICAN
FEDERATION OF TEACHERS.
AND OUT ONE OF THE LEADING
EXPERTS ON THIS SUBJECT SO.
I WANTED TO MAKE SURE THAT WE
WERE ABLE TO INCLUDE HER
PERSPECTIVE.
AS PART OF OUR CONVERSATION IF
YOU ON THE PHONE -- SHE WILL BE
MOMENTARILY OKAY.
AND DÂN.
SO WHILE WE'RE WHILE WE'RE
GETTING MANY ON THE PHONE LET'S
WALK AND OUR NEXT OUR NEXT
PANELIST WE'VE GOT.
AND THE NEXT PANEL IS GONNA BE
REPAINT STUDENT LOANS AND I JOIN
US FOR THAT WILL HAVE ANDREAS
SOUND OF ALL.
WHO IS A UC SANTA BARBARA LAMB?
AT MARINE AWAY IT THE FORMER
WESTERN STATE COLLEGE OF LAW
STUDENT RACHEL GREEN BOMB A
FORMER BROOKS INSTITUTE OF
PHOTOGRAPHY STUDENT.
AND WILLIAM SCHWARTZ FORMER ITT
TECH AND WESTWOOD COLLEGE
STUDENT
.
AND THIS REMINDER IF YOU DO HAS.
ANY QUESTIONS OR YOU WANNA.
GET THE FIVE IN ENGAGE THE
PANELISTS AND ANYTHING
SPECIFICALLY YOU CAN USE WHAT
WAS WHEN OUR TIMES.
AND HAS TEXTED A DEBTOR HASH TAG
PROTECT BORROWERS AND WE'LL TRY
TO GET THE AND THE QUESTIONS UP
TO OUR PANELISTS.
BEFORE WE GET RANDY ON THE PHONE --
WITH LEFT IT TO HEAR THAT THE
START FROM OUR PANELISTS.
TO ANDREAS INVOLVED LIVED HERE
YOUR PERSPECTIVE ON AYE REPAYING
STUDENT LOANS AND WHAT'S BEEN
INVOLVED.
OKAY HEAR ME.
SO MY NAME'S ADDRESS AND OF ALL
AND I AM EIGHT UCSB ALSO USC
ALUM I GOT MY GRADUATE DEGREE AT
USC.
AND I AM ALL THE THINGS THAT I'M
NOT SUPPOSED TO ACHIEVE.
GIVEN WHERE I WAY I CAME FROM.
I AM A COASTER I'M AN IMMIGRANT
FROM COSTA RICA FROM A FAMILY OF
FARMERS.
MY FAMILY GREW UP ON GOVERNMENT
SYSTEMS AND I'LL TRY TO GET
THROUGH THIS.
AND I'M A FIRST GENERATION
COLLEGE STUDENT.
TODAY I HAVE A THRIVING
BEAUTIFUL FAMILY MY SON IS.
FOR HIS NAME IS IN JOHNSON VS
ONE AND SHE'S -- AND OVER FOR
HER [INAUDIBLE]
AND WE ARE RAISING THESE
CHILDREN A BEAUTIFUL HOME.
MY HUSBAND IS A POLICE OFFICER
WHO PUTS HIS LIFE ON THE LINE
EVERY DAY -- I'LL GET TO WHY IT
WAS SO EMOTIONAL BUT TELL YOU
ABOUT MY LIFE -- HE ISN'T ONE OF
THE MOST CRIME RIDDEN
NEIGHBORHOODS IN LOS ANGELES SO
HE'S ALSO A PUBLIC SERVICE.
I'VE FOUGHT REALLY HARD FROM
EDUCATION.
I GRADUATED FROM USC AND HAVE
DEDICATED MY ENTIRE CAREER TO
PUBLIC SERVICE.
I WORK FOR THE VETERANS AFFAIRS
DEPARTMENT AND IT WAS MY FIRST
JOB OUT OF COLLEGE AND HAVE BEEN
THERE FOR THE LAST ELEVEN YEARS.
I'M LEADING THE TEAM TODAY THE
DATA CAN START TIME TO INSURANCE
VETERANS RECEIVE THE SERVICES
THEY HAVE.
THAT THEY ARE DESERVING OF IT
WAS REALLY CLEAR TO ME THAT FOR
ME TO BE ABLE TO GO TO COLLEGE.
I WOULD NEED SIGNIFICANT
FINANCIAL HELP.
SO LOANS BECAME A REALLY
IMPORTANT PART OF THAT.
AND THEY DO NOT THINK ANYTHING
OF IT AT THE TIME.
IN FACT EVERYONE I KNEW WAS
ALREADY DOING IT AND EVERY
FINANCIAL OFFICER EXPO TWO OR
ALL OF THE BOOKS THAT WERE ON
THE CAMPUS OF UC SB WEREN'T
COURAGE IN YOUR TO TAKE.
LOANS SO.
I DID A AYE I WAS NEVER WARNED
HIM AND TOOK THAT AS A
SIGNIFICANT AMOUNT OF DEBT TO
GET FOR YOU AND SEE.
BEFORE I HAD EVEN HAD A CREDIT
CARD TO MY NAME.
SO IN TWO THOUSAND EIGHT I WAS
HIRED AS A FEDERAL EMPLOYEE.
ENTER MY RESEARCH OF MAKING THAT
DECISION I REALIZE THAT THERE
WAS A PUBLIC SERVICE LOAN
FORGIVENESS PROGRAM.
AND I WAS REALLY EXCITED TO HEAR
THAT I CAN.
GET THROUGH THAT BY DEDICATING
MY TIME TO PUBLIC SERVICE.
THE CONTACTED MY SERVICE ARE AT
THE TIME.
AND THEY INFORMED ME THAT I
SHOULD I WOULD INDEED IN FACT
QUALIFIER HAD.
SIGNED UP TO THE PAYMENT PLAN
AND AND I SHOULD JUST KEEP GOING
AND THEN AFTER HUNDRED TWENTY
PAYMENTS IF YOU FIND.
SO I CONTINUE TO MAKE THOSE
PAYMENTS ON ABOUT PAYMENT PLAN.
AND I REMEMBER I HAVE RELEASED
DISTINCT PICTURE MY MIND A
LOGGING ON TO THE DEPARTMENT OF
EDUCATION WEBSITE IN TWO
THOUSAND AND EIGHT A YEAR AFTER
P. SLF HAD COME INTO EFFECT --
HAD BEEN ANNOUNCED IN FACT.
AND I SAW FIVE PAYMENTS FIVE
QUALIFYING TOWARD A HUNDRED AND
TWENTY PAYMENTS.
I'M ON TRACK -- EXCEPT I'M JUST
KEEP GOING HUNDRED TWENTY
PAYMENTS [INAUDIBLE]
SO.
HOWEVER MY LONG KEPT GETTING
MOVED AROUND TO DIFFERENT
SERVICERS I DO UNDERSTAND WHY IT
DIDN'T BUT I JUST COULD LOG ON
TO THE DIFFERENT WEBSITES WITH
THE THEME OF CANCER.
AND WHEN I LOG ON TO THOSE --
FINALLY IN.
TWENTY FOURTEEN MY CURRENT
SERVICER GOT A HOLD OF MY LOAN
MY FED LOAN SERVICERS.
MY FRIEND ON SERVICING.
AND I CONTACTED THEM JUST AS I
HAD ALL THE OTHER SERVICERS.
AND THEY INFORMED ME THAT.
I WANTED TO KNOW WHAT MY
PROGRESS WEST AS FAR AS BUT P.
SLF -- I HAVE BEEN MAKING ON
TIME PAYMENTS FOR THE LAST SIX
YEARS AS A FEDERAL EMPLOYEE.
AND I WAS DEVASTATED TO HEAR.
THAT I DO NOT QUALIFY BUT I HAD
ZERO PAYMENTS MADE TOWARDS MY
HUNDRED TWENTY PAYMENTS.
AND THAT THAT WAS BECAUSE I WAS
UNDER THE WRONG.
I HAVE NO IDEA WHAT THIS PAYMENT
HOW WOULD DERAIL MY LOAN
FORGIVENESS POUNDS I CHOSE THIS
TIME WHEN I FIRST GRADUATED THE
SERVICES HAD A RESPONSIBILITY TO
INFORM ME THAT THIS POWER.
TAKE THAT OPTION AWAY AND
EFFECTIVE TOLD ME DIFFERENTLY.
AND I THOUGHT IT WAS ON TRACK.
SO I CONTINUED TO MAKE THOSE
PAYMENTS AND I EVEN MADE
PAYMENTS HIGHER THAN THE AMOUNT
DO SO THAT I CAN GET OUT OF THE
STAFF FASTER.
NO ONE IS SURE MY CLIFF NOTES ON
MY CURRENT JOURNEY IT DOES NOT
REFLECT THE NEARLY THIRTY HOURS
I HAVE SPENT ON THE PHONE WITH
STAFF.
AND SUPERVISORS AFFECT LOAN.
JUST TO TRY UNDERSTAND AND
EDUCATE THE SERVICER THAT IS
SUPPOSED TO SHARE WITH ME WHAT
MY OPTIONS ARE. TO CONTINUE TO
FIGHT.
I DO FEEL THAT THIS IS BIGGER
THAN ME I REPRESENT FRIENDS AT
UCSB IN SANTA BARBARA I DON'T
TAKE THIS FIGHT LIGHTLY.
AND I NEED TO EDUCATE MYSELF AND
MY FRIENDS AND MY CHILDREN.
TO STAND UP THERE ARE DIFFERENT
WAYS TO GET THROUGH [INAUDIBLE]
LAST YEAR.
I HEARD THE NEWS.
THAT CONGRESS PASSED THE
TEMPORARY.
UP PUBLIC SERVICE LOAN
FORGIVENESS PROGRAM THAT WOULD
ALLOW CANDIDATES JUST EXACTLY OF
MYSELF TO QUALIFY FOR A LOAN
FORGIVENESS IF I MET CERTAIN
CONDITIONS INCLUDING THE
REPAYMENT PLAN I WAS AN AND I
MET THEM.
AT LEAST I THOUGHT.
A CONTACT THE FINAL SERVICING
AND THEY TOLD ME THAT.
THE PROGRAM DID NOT EXIST.
AND THAT DIDN'T HAVE ANY OTHER
RESOURCES.
NATURALLY I DIDN'T BELIEVE THEM.
SO I JUST WASN'T GOING TO GIVE
UP KEPT MONITORING THE WEBSITE.
CONTACT THE DEPARTMENT OF
EDUCATION.
THEY TOLD ME THAT IT HAD PASSED
IT WOULD JUST WASN'T IMPLEMENTOR.
NAY WAITED AND WAITED.
THIS IS THE TIME SENSITIVE
PROGRAM WITH LIMITED FUNDING AND
I WAS AT THE EDGE OF MY SEAT.
BUT WHEN I FINALLY FOUND THAT ON
THE PROGRAM APPLICATION
AVAILABLE ON THE FED LOAN
SERVICING.
THEY THEY I CALLED THEM AND THEY
AGREED IT IT DID EXPECT EXCESS
AND I SHOULD.
APPLY.
MAIN COURAGE ME.
TO SO I APPLIED.
THIS PAST NOVEMBER.
WHEN I HAD MY TEN YEARS OF
FEDERAL SERVICE?
AND I FOLLOWED UP IN DECEMBER
AND I WAS TOLD ON THE PHONE THAT
I IN FACT WAS APPROVED.
AND THEN I SHOW HERE SHORTLY
ABOUT MY LOAN FORGIVENESS
[INAUDIBLE]
CRYING.
ALL THESE YEARS A TIME INVESTED
ALL THESE DECISIONS MADE FAR
FAMILY.
THAT CIRCLED AROUND THIS DEBT
[INAUDIBLE]
WOULD BE.
WOULD JUST GO AWAY [INAUDIBLE]
IN FEBRUARY.
I RECEIVED THE NEWS THROUGH A
LETTER THAT WHILE THEY DID MAKE
THOSE PAYMENTS I WAS TONIGHT IT
WAS NOT GIVEN A TO A TO A NEXT.
SHOULD.
I CALLED IN AND ASKED FOR A
REASON AND FINALLY AFTER
SPEAKING TO SUPERVISORS IN HOURS
I GOT.
I WAS TOLD THAT WAS ENROLLED.
THE DECEITFUL TACTIC CALLED PAY
AHEAD STATUS FOR SOME OF MY
PAYMENTS.
I WOULD BE DISQUALIFIED.
NO WE DON'T HAVE TIME TO GET TO
PAY STATUS SO WHY WAS EVEN THERE
AND THAT SHOULDN'T HAVE HAPPENED
EITHER.
BUT I HAVE BEEN PAYING MORE THAN
THE AMOUNT DUE ON MY BILLS.
GET THROUGH IT AND BECAUSE OF
THOSE PAYMENTS I WAS DENIED.
THE SUPERVISOR JUST TO AN
APOLOGY FOR HAVING GIVEN THE
WRONG INFORMATION MONTHS PRIOR
THAT I WAS IN FACT APPROVED.
NOTHING COULD BE DONE.
SO TODAY CONTINUE WANT WITH MY
FIGHT MY FIVE STATUS
[INAUDIBLE]
AND I JUST CONTINUE BEING GIVEN
THE WRONG INFORMATION WITH THE
LOAN SERVICING AND AND THAT'S
WHERE I'M AT TODAY SO IT IS
SURELY.
MY STORY ABOUT HOW FED LOAN
SERVICING IN THE SERVICERS HAVE
NOT.
BEEN GIVEN EDUCATE YOU MUST HAVE
NOT BEEN GIVING US THE RIGHT
INFORMATION.
GIVE ME THE TOTAL OPPOSITE
INFORMATION IN THIS IS AN
ATTORNEY SINCE TWO THOUSAND AND
EIGHT WHERE THIS IS CONTINUES TO
A CAR AND AND LIVE SUCH AS MIGHT
HAVE BEEN AFFECTED BECAUSE OF
WELL [INAUDIBLE]
I'VE.
THANK YOU AND I AM SO SORRY FOR
WHAT.
YOU'VE BEEN THROUGH [INAUDIBLE]
AB.
YEAH THIS IS THIS IS HARD ENOUGH
WITHOUT.
PEOPLE AND COMPANIES WHO ARE
WILLFULLY [INAUDIBLE]
DECEIVING.
PEOPLE THEY'RE TRYING SO HARD TO
DO THE RIGHT THING.
AB AND MY COMMITMENT TO USE A IS
THAT I WILL ABSOLUTELY.
I WILL ABSOLUTELY INTO THIS.
YEAR FROM.
THE PERSPECTIVE OF CALIFORNIANS
SEE WHAT WE CAN DO IN THE SHORT
AND THE LONG TERM BECAUSE I
THINK THERE ARE.
THERE ARE SOME PLACES WHERE.
THE I YEAH THIS IS AN INCREDIBLY
CONFUSING WHEN TO NAVIGATE AND
THERE ARE SOME PLACES WHERE I
THINK THAT'S KIND OF BY
HAPPENSTANCE BUT I THINK THERE'S
CLEARLY SOME PLACES WHERE.
THAT'S PURPOSEFUL IN ORDER TO
ENTER PEOPLE HAPPEN TO SEE
PEOPLE AND WE NEED TO MAKE SURE
THAT WE ARE.
CLOSING AS THE POLLS AND THAT
PEOPLE AREN'T EXPERIENCING WHAT
YOU HAVE SO.
AND YES I AM COMMITTED TO THAT
AND THEN LET'S PLEASE STAY IN
TOUCH IS.
AND YOU I THINK YOUR TENACITY IS
IS REALLY INSPIRING AND LIKE YOU
SAID.
WHAT YOU'RE GOING THROUGH?
SO MANY PEOPLE CAN HOPEFULLY
LEARN FROM AND BENEFIT FROM SO
THANK YOU.
AND WE ARE GOING TO CONTINUE
WITH I HEARING FROM [INAUDIBLE]
MARINA [INAUDIBLE]
THANK YOU [INAUDIBLE]
THANK YOU.
SO MY JOURNEY AS A FIRST
GENERATION STUDENT NAVIGATING
HIGHER EDUCATION HAS BEEN FULL
OF OBSTACLES BUT I NEVER COULD
HAVE PREPARED FOR WHAT HAPPENED
TO US LAST SEMESTER -- SOME OF
YOU MAY HAVE HEARD -- ABOUT THE
ARGOSY.
SITUATION HAPPENED LAST SEMESTER --
SO I TENDED WESTERN STATE
COLLEGE OF LAW WHICH IS AN
ARGOSY INSTITUTION AND IN
JANUARY.
OUR STUDENT LOANS ESSENTIALLY
WENT MISSING OVER SIXTEEN
MILLION DOLLARS THAT WERE THAT
WAS -- TO STUDENTS BASICALLY
DISAPPEARED.
AND ULTIMATELY ALL OF THE
SCHOOLS AND IT UP IN A FEDERAL
BANKRUPTCY COURT AND ONE PERSON
WAS APPOINTED AS A RECEIVER AND
HE WAS IN CONTROL OF ALL THE
FINANCES AND ALL THE OPERATIONS
OF THE SCHOOLS -- WE NEVER GOT
THE MONEY WE NEVER GOT AN
EXPLANATION AS TO WHERE THE
MONEY WENT -- I LIKE MOST OTHER
FULL TIME LAW STUDENTS RELY ON
STUDENT LOANS FOR MY LIVING
EXPENSES.
SO WHEN -- THAT MONEY DIDN'T
COME THROUGH IT AFFECTED MY LIFE
SIGNIFICANTLY.
AND BY MARCH ALMOST ALL OF THE
ARGOSY SCHOOLS CLOSE MY LAW
SCHOOL AND ONE OTHER SCHOOL
REMAIN.
I HAD TO ACTUALLY INTERVENE IN
THE FEDERAL COURT AND GET A
JUDGE TO ORDER THE SCHOOL TO
REMAIN OPEN.
AND THAT'S THE ONLY REASON WHY
I'M GOING TO GRADUATE TOMORROW --
THE RECEIVER HIMSELF HAS STATED
THAT THE DEPARTMENT OF EDUCATION
TOLD HIM TO USE OUR MONEY ON
EXPENSES OF THE SCHOOLS RATHER
THAN PASSED THE MONEY THAT WAS
OWED TO US.
WE TO THIS DAY WE STILL DON'T
KNOW WHAT THE TRUTH IS -- I'M
CURRENTLY BEING REPRESENTED BY
AN SLT AND AND WE'RE TRYING TO
OBTAIN INFORMATION.
REGARDING WHAT HAPPENED TO OURS.
THE SIXTEEN MILLION DOLLARS THAT
HAS BASICALLY JUST VANISHED WITH
NO EXPLANATION.
THANK YOU FOR GIVING ME THE
OPPORTUNITY TO SPEAK HERE TODAY.
AND AND THEY'RE SO ARE THEY
TRYING TO COLLECT.
THAT LOAN FROM YOU SO THAT PART
I I PERSONALLY HAVEN'T RECEIVED
ANYTHING FROM THE DEPARTMENT OF
EDUCATION TELL ME THEY DON'T
HAVE TO PAY -- AS FAR AS I KNOW
ONLY THE STUDENTS WHO ACTUALLY
RECEIVED THEIR MONEY RECEIVED AN
EMAIL FROM EDUCATION THING THAT
THEY DON'T HAVE TO PAY
[INAUDIBLE]
YEAH [INAUDIBLE]
OKAY.
ALL RIGHT SO YOU WILL KEEP US
POSTED ON WHAT'S HAPPENING THERE
IS THAT UNFOLDS THAT'S
COMPLETELY RIDICULOUS
[INAUDIBLE]
I'M SHARIA.
ALL RIGHT I'M NOW WITH BRING
HERE FROM RACHEL GREEN BOX.
HI -- MY NAME'S RACHEL GREEN
BOMB.
I AM THIRTY NINE YEARS OLD AND I
LIVE IN LOS ANGELES AND I WORK
AS A CROWD MEGA SELF DEFENSE
INSTRUCTOR AND LICENSING
REPRESENTATIVE.
I'D LIKE TO SHARE MY EXPERIENCE
WITH STUDENT LOAN DEBT INCURRED
A PREDATORY A FOR PROFIT SCHOOL.
IN TWO THOUSAND THREE WAS VERY
INTERESTED IN PURSUING A CAREER
IN VISUAL JOURNALISM.
I LOOK FOR PROGRAMS ONLINE AND
CAME ACROSS BROOKS INSTITUTE FOR
PHOTOGRAPHY.
BROOKS PROMISED AN EXCELLENT
EDUCATION THAT WOULD LEAD
OPPORTUNITIES IN THE FIELD AND
POINTED TO HIGH EMPLOYMENT RATES
AND FUTURE EARNINGS.
BUT I LATER LEARNED WERE FALLS.
BROOKS MADE IT SEEM THEIR
ADMISSIONS PROGRAM IT WAS HIGHLY
COMPETITIVE BUT IT TURNED OUT
THAT THEY WERE ACTIVELY
RECRUITING AS MANY STUDENTS AS
THEY COULD ENROLL.
WHEN I APPLIED I WAS ACCEPTED
IMMEDIATELY?
I ATTENDED THE BROOKS INSTITUTE
OF PHOTOGRAPHY INVENTOR
CALIFORNIA FROM 200-032-2000 SIX
AND I GRADUATED WITH A BACHELORS
OF ARTS DEGREE IN VISUAL
JOURNALISM.
BROOKS COUNSELORS A STEERED ME
TOWARDS FEDERAL AND PRIVATE
LOANS TO PAY FOR THIS PROGRAM
AND PRESSURED ME TO TAKE OUT THE
MAXIMUM.
AMOUNT OF LOANS AVAILABLE.
THEY PRESENTED ME WITH LOAN
APPLICATION FORMS AND TOLD ME
THAT THE JOB THAT I WOULD ACCESS
AFTER GRADUATING WITH A LONG WAY
TO REPAY THESE LOANS.
AND AND MUCH MORE.
THEY ALSO MUST LEAD LEAD MISS
LET ME ABOUT THE COST RAISING
THE PRICE OF TUITION IF WE TOOK
OFF A TWO MONTH SESSION AND THEN
RE ENROLLED FOR THE NEXT SESSION.
BROOKS BUT A LOT OF PRESSURE ON
STUDENTS TO TAKE OUT THESE LOANS
AND MY MOTHER HAD TO CO SIGN FOR
THESE LOANS IN ORDER FOR ME TO
QUALIFY.
I ENDED UP TAKING ABOUT HUNDRED
AND SEVENTY FIVE THOUSAND
DOLLARS IN FEDERAL AND PRIVATE
LOANS.
THAT I'M STILL TRYING TO PAY OFF.
MEANWHILE HAVE BEEN UNABLE TO
FIND ANY PERMANENT POSITION IN
VISUAL JOURNALISM AND HAVE NOT
MADE MORE THAN SEVEN HUNDRED AND
FIFTY DOLLARS DOING TEMPORARY
PROJECTS.
THIS IS TRULY NOT AT ALL WHAT I
EXPECTED AFTER RECEIVING AN A ON
MY GRADUATION PROJECT.
FILMING IN PRODUCING A SHORT
DOCUMENTARY ON HIS BILL LAWS TWO
THOUSAND SIX ATTACK ON ISRAEL
FROM LEBANON.
WELL I WAS IT WHILE I WAS AT
BROOKS IT SEEMED LIKE THE SCHOOL
WAS MORE INTERESTED IN CHARGING
ME THAN PROVIDING ME WITH A GOOD
EDUCATION.
I PREVIOUSLY ATTENDED THE
UNIVERSITY OF TEXAS AT SAN
ANTONIO AND TAKEN MANY GENERAL
EDUCATION COURSES COURSES THAT
WOULD EASILY HAVE BEEN GIVEN
CREDIT.
AT ANY OTHER COLLEGE.
YES BROOKS REFUSED TO ACCEPT
THESE CREDITS AND BEING ME TAKE
UNNECESSARY COURSES UNRELATED TO
MY MAJOR IN ORDER TO SATISFY.
GENERAL EDUCATION REQUIREMENTS.
THIS JUST SEEM TO NOT LIKE
ANOTHER WAY FOR BOOKS TO GOUGE
ME FOR MORE MONEY.
I LATER FOUND OUT FROM
CLASSMATES THAT NOT ONLY WOULD
CREDITS NOT TRANSFER INTO
BROOKE'S.
BUT THEY DID SCHOOLS WOULD NOT
ACCEPT TRANSFER CREDITS OUT OF
BROOKS EVEN THOUGH BURKE SAYS
MISS TOLD US THAT THEY WHAT.
THE STUDENT LOAN DEBT ANCHORED
FOR USELESS AND REGARD
REGRETTABLE EDUCATION AT BROOKS
HAS PREVENTED ME FROM MOVING
AHEAD.
FINANCIALLY TO THIS DAY.
WHEN I HEARD ABOUT THE BAR
DEFENSE REPAIRMAN -- DISCHARGE
PROGRAM IN 200-020-0016 I
SUBMITTED MY APPLICATION TO THE
US DEPARTMENT OF EDUCATION AND
HAVE YET TO HEAR BACK.
IN A DESPERATE EFFORT TO DEAL
WITH MY LOOMING DEBT I SIGNED UP
WITH THE DEBT RELIEF COMPANY
THAT TAKES HALF OF MY PAYCHECK
EVERY MONTH TO TRY AND SETTLE MY
LOANS.
DESPITE TELLING ME THEY WOULD
SETTLE ON MY LOANS I'M STILL
BEING PURSUED BY DEBT COLLECTORS
FOR TWO OF THOSE LOANS AND I'M
NOT SURE THE DEBT RELIEF COMPANY
IS HELPING ME AS MUCH AS
PROMISED.
THE DEBT COLLECTORS OF THREATEN
ME WITH HER HOUSING CALLS AND
OVER CHARGE ME FOR MY LOANS.
I'M THIRTY NINE YEARS OLD AN
IRON ABOUT. TWENTY FIVE HUNDRED
DOLLARS PER MONTH.
HALF OF WHICH GOES TOWARDS
PAYING OFF MY STUDENT LOANS.
SOME WEEKS I LITERALLY DON'T
KNOW IF I'LL BE ABLE TO BUY
GROCERIES AND I SURVIVE OFF OF
PROTEIN BARS.
WHILE I DO ENJOY MY JOB.
IT'S COMPLETELY UNRELATED TO
WHAT I STUDIED AT BROOKS I HAVE
POOR CREDIT I DON'T OWN ANYTHING
BUT MY CAR WHICH IS ACTUALLY IN
MY MOTHER'S NAME.
AND I RENT A ROOM IN A HOUSE
FROM MY FRIEND'S MOTHER.
I DOUBT THAT I'LL EVER BE ABLE
TO START A FAMILY WITH THIS THIS
FINANCIAL SITUATION.
OR EVEN JUST GOT MY OWN
APARTMENT.
THIS IS NOT WHERE I THOUGHT I
WOULD BE WHEN I STARTED STUDYING
AT BROOKS INSTITUTE.
BUT THIS IS WHERE MY STUDENT
LOAN THAT HAS LEFT ME.
THANK YOU I'M THANKS FOR CHAU.
I DID MENTION THAT WE DO HAVE.
SOME BILLS MOVING THROUGH THE
LEGISLATURE RIGHT NOW THAT ARE
TRYING TO CRACK DOWN ON SOME OF
THE UNSCRUPULOUS PRACTICES AS
SOME OF THESE FOR PROFIT
COLLEGES.
THEY REALIZE THAT'S PROBABLY.
SCANS OUTSIDE ENCOURAGEMENT.
I'M AND WOULD LOVE TO TALK TO
YOU CAN OF AFTER AND SEE IF
THERE'S THINGS THAT WE CAN CAN
DO THAT WILL HELP PEOPLE WHO'VE
ALREADY BEEN VICTIMIZED BY SOME
OF THESE OPERATORS.
AND WE DO HAVE A WORKSHOPS I
WANTED THINGS WANTED TO DO AS
PART OF THIS HEARING WAS WAS --
MAKE SOME PRACTICAL RESOURCES
AVAILABLE SO FOR EVERYONE HERE
WE DO YOU HAS -- THE WORKSHOP
FOLLOWING THIS THIS HEARING WILL
HAVE SOME EXPERTS AND ADVOCATES
WHO CAN.
CAN HELP YOU I LOOK AT YOUR
SPECIFIC SITUATION AND HOPEFULLY
HELP HELP PEOPLE NAVIGATE SOME
OF WHAT.
OF WHAT THEY'RE GRAPPLING WITH --
SO FULL OF THAT PERHAPS THERE IS
THERE'S EXPERT -- ADVOCATE HERE
THAT CAN HELP US A MIX OF
PROGRESS THANK YOU IN YOUR IN
YOUR AREA.
I'M.
WILLIAM.
I THINK WE MIGHT SHOULD LITTLE
SEATS SWAP SO YOU CAN HAVE A
HAVE THE MIKE [INAUDIBLE]
OKAY.
I THINK I CAN BE HERE.
BEFORE WE HEAR YOUR STORY WE ARE
GOING TO JUST QUICKLY I THINK AT
SOME PERSPECTIVE I'VE FROM.
RANDY HI WHO'S ON THE PHONE.
HI RANDY HOW ARE YOU.
I'M GOOD I CAN BARELY HEAR YOU
THOUGH.
WELL WE CAN HEAR YELL I'LL ALIVE.
TALK LETTER THE MICROPHONE.
YES WE CAN HEAR YOU I'M WELCOME
TO THE DEBUT HEARING FOR THE
ASSEMBLY COMMITTEE.
ON STUDENT DEBT WE'RE HERE AT
UCI WITH THAT A ROOM AS I ROOM
AS ADVOCATES AND EXPERTS AS WELL
AS STUDENT BORROWERS FOR SHARING
THEIR STORIES.
SO -- I'M GLAD YOU CAN HEAR ME I
CAN BARELY HEAR YOU I HEARD YOU
SAY THAT WE'RE AT THAT HEARING.
YES GREATER WAY YOU CAN GET
CLOSER TO THE PHONE SO I CAN
JUST IT WILL BE [INAUDIBLE]
I'M SORRY.
WORK ON IT.
YEAH HEY AT MUCH BETTER YEAH
[INAUDIBLE]
HOWEVER THE YEAH I RIGHT -- AND
THAT [INAUDIBLE]
HI [INAUDIBLE]
SHORT.
WE HAVE MADE THANK YOU -- THANK
YOU ASSEMBLY MEMBER AND I
UNDERSTAND THAT SO THANK YOU FOR
DOING THIS.
THANK YOU FOR PUSHING ON THIS
THANK YOU FOR LEADING ON THIS.
AND I UNDERSTAND THAT -- THAT
YOU KNOW THERE ARE MANY PEOPLE
WHO ARE ALSO HOPING WITH YOU
INCLUDING ASSEMBLY MEMBER STONE.
AND I ALSO UNDERSTAND THAT THE
INCOMPARABLE AND INDEFATIGABLE --
CONGRESSWOMAN REPORTER IS YOU
KNOW IS IS IS WITH YOUR MAKE IT
WITH YOU TODAY AS WELL.
BUT WE HAVE MADE.
THE ISSUE OF WE WE ARE
COMPLETELY.
FOCUSED.
ON ON THE ISSUES OF HOW DO WE
FIGHT FOR A BETTER LIFE. FOR
PEOPLE OF THE COUNTRY WE KNOW
THAT THAT DOESN'T HAVE THE
REGRETTABLE TO WORK AND OF
COURSE OUR DEMOCRACY.
AND TO ACTUAL ON THAT BECAUSE
VALUES HAVE TO BE FOUGHT I
ACTIONS DURING.
VALUES HAVE TO BE FOUR FOUR BY
ACTION CAMPAIGNS.
AND SO -- FOR THINGS THAT WE ARE
FOCUSED ON THIS YEAR THE ASD.
AND WE WILL CONTINUE TO BE
FOCUSED ON IT HOW DO WE GET THE
INVESTMENT THAT'S NEEDED.
IN A PUBLIC INSTITUTIONS
INCLUDING PUBLIC SCHOOLS IN
HIGHER EDUCATION FORTY ONE STATE.
ACTUALLY ACTUALLY SPENT LEFT HER
HIGHER EDUCATION STATE AND
EIGHTY EIGHT BEFORE THE
RECESSION AND YOU KNOW WHAT THAT
HAS.
ENTERED THE CALIFORNIA.
WE'RE FOCUSED ON HOW WE HAVE
SAFE AND WELCOMING.
WORKPLACE IS FOR THE PEOPLE WE
SERVE IN THE PEOPLE WE REPRESENT
FOR FOCUSED ON WE NEED.
TO TEACH OUR THE OUR FUTURE
FREEDOM TO TEACH STATING YOUR
WELCOMING ENVIRONMENT.
AND THE LAST -- WHICH IS A REAL
SHARK CONNECTION FOR ME.
HOW ARE WE GOING TO DEAL WITH
THIS WHOLE AREA OF STUDENT AT?
AND YOU KNOW THE FACTS MORE THAN
YOU KNOW I'M SURE YOU'VE TALKED
ABOUT IT AT GREAT RATES AND SO
MANY PEOPLE IN YOUR AREA.
IN THIS HEARING [INAUDIBLE]
ABOUT.
THE CIVIC CENTER HELP.
HELP INTO THAT AND I SAW THE
KIND OF THE THE INFORMATION AND
THE THAT WAS. TEN THOUSAND
RESPONSES.
GET A QUOTE AND INCREASED STRESS
LEVELS 80%.
OF THEM FROM THE STREET 73%.
AUSTRALIAN SKINNER FAMILIES AND
HELPFUL.
AND WHEN YOU HAVE THAT LEVEL OF
PAIN AND EXHILARATING AND THAT'S
WHAT PEOPLE.
ACTUALLY SHOT JOBS.
WHO ARE OUR MEMBERS BECAUSE THEY
ARE WORKING IF EITHER AT
JUNCTURE PROFESSORS OR SCHOOL
TEACHERS OR NURSES ARE PUBLIC
EMPLOYEES?
WHAT HAPPENS TO THE REST OF THE
FORTY ONE FORTY FIVE MILLION
PEOPLE WILL HAVE THAT ONE THREE
FIVE TRILLION DOLLARS?
IN DEBT.
I HAVE GONE FROM AUDIENCE
AUDIENCE WITHIN OUR CHRISTIAN
[INAUDIBLE]
ABOUT [INAUDIBLE]
YOUR IT'S WORSE.
IF THAT TODAY'S FEDERAL
GOVERNMENT IT'S ACTUALLY DOING
LACKS.
THEN VERY WORK BEFOREHAND.
ALL -- THREE WE HAVE.
YOU KNOW.
THE OBAMA ADMINISTRATION TRIED
TO PUT EVERYTHING ON YOUR
FEDERAL GOVERNMENT THAT HAS ARE
THE BIGGEST SHOULDN'T LOAN THANK
YOU NOW.
WHAT WHAT?
THE BOX SAYS.
AT THE VERY SAME TIME.
SHE IS FIGHTING.
TO YOU FOR AWHILE EIGHT FROM
TRIED. TO FILL [INAUDIBLE]
THEY HAVE.
SABOTAGE THE PUBLIC SERVICE LOAN
FORGIVENESS PROGRAM WHICH WOULD
BE ONE OF THE MOST IMPORTANT
WILL REACH PROGRAMS THAT AFTER
TEN YEARS OF WORK HERE.
PUBLIC SERVICE.
YOUR JACKET SHOULD GET AND THEY
ARE TRYING.
TO HELP GRANT AS WE SAW THIS
WEEK.
AND THEY HAVE BASICALLY PUT A
SIGN UP.
IN WASHINGTON THAT PREDATORS AND
AND LOAN SERVICES LOAN SERVICES
ARE FAR MORE PRIORITY I DON'T
FAR MORE IMPORTANT.
THAN ANY OF THE KIDS OR ANY OF
THE STUDENTS OR ANY OF THE YOUNG
ADULTS ALREADY THE NOT SO YOUNG
AGO.
WAS GOTTEN -- STUDENT UP.
THERE.
SO.
AND THE RESULT.
WHAT WE ARE TRYING TO DO?
IF WE ARE WORKING WITH THE STATE
LEGISLATORS AND REGULATORS
ATTORNEY GENERAL.
ALL ACROSS THE COUNTRY WE'RE
TRYING TO STEP IN THE BRIDGE AND
AND AND THE THREE LEGISLATION IN
CALIFORNIA.
IS THAT WE HAVE STILL NOT BEEN --
AND IT IS THE SUIT OF SEVERAL
CLASS ACTION SUIT.
OF SEVERAL OF OUR MEMBERS -- TO
GET NOT BEING -- OBVIOUSLY THE
STOP ITS MISREPRESENTATIONS STOP
OUR GREAT -- TELLING PEOPLE HOW
NOT GOING TO PUBLIC SERVICE LOAN
FORGIVENESS.
AND SHE ACTUALLY -- RESTORE
EQUITY OR CHIU HELP RETRACT.
ALL THE PEOPLE THAT IN MY
JUDGMENT THEY HAVE SCREWED OVER
ALL THESE YEARS.
WE'RE GONNA DO SOMETHING VERY
SIMILAR IN TERMS OF LIKE THE
ATTORNEY GENERAL THAN OTHERS IN
TERMS OF TRYING TO GET THAT THE
TWO BLOCKS TO ACTUALLY YOU ARE
JOB AT THE POST YOU.
HAVE A CHARGING THE THIRD.
WE ARE ACTUALLY WORKING TO DO
STUDENT LOAN CRITICS DIDN'T GET.
IN OTHER KINDS OF TOOLS SO THAT
THESE PEOPLE KNOW WHAT THEIR
RIGHTS ARE UNDER THIS VERY VERY
POPULAR.
AND FORTY WE'RE WORKING WITH --
REX STRUCTURES LIKE YOURSELF AND
PEOPLE LIKE THE ATTORNEY GENERAL
TO ACTUALLY TRY TO REALLY CREATE.
RESTORE RIGHT.
DESTRUCTIVE.
THAT'S WHAT WE'RE TRYING TO DO
AND SO I'M JUST AND SO GRATEFUL
THAT YOU HAD THE FOR A COUPLE OF
MINUTES.
OFF THE STROKE GRATEFUL IF YOU
WORK SHORING.
BILLING IN THE BREACH.
AT O'CLOCK AN UNUSUAL THANK YOU
ISSUE.
IN ANY CONTACTS BUT PARTICULARLY
IN THE CONTEXT WHERE WE HAVE.
A FEDERAL ADMINISTRATION THAT IS.
YOUR ABBOTT IS A FIRST
ADVOCATING A RESPONSIBILITIES
HERE AND SECOND AS YOU SAID
ACTUALLY SABOTAGING THE VERY
PROTECTIONS THAT ARE SUPPOSED TO
HELP.
OUR STUDENT BORROWERS AND IF
IT'S I THINK ONCE AGAIN.
IT IS JUST SHINING A LIGHT ON
JUST HOW IMPORTANT FIVE HOW
IMPORTANT CALIFORNIA'S ROLE IS
IN ADDRESSING THIS ISSUE.
I'M YEAH ALONG WITH SO SO MANY
OTHERS -- SO THANK YOU FOR
TAKING A MOMENT TO JOIN US AND
REALLY APPRECIATE YOUR
PERSPECTIVE AND THAT LOOK FOR TO
CONNECTING WITH YOU SOON.
ABSOLUTELY THANK YOU AND THANK
YOU FOR HAVING US AND WE'RE VERY
GRATEFUL OR VERY PLAYFUL.
RIGHT THAT'S HERE LAST YEAR.
YEAH.
NOW BACK TO OUR DELIGHT
[INAUDIBLE]
I BELIEVE.
CATHOLIC I CAN BE HEARD THEIR
YES I DID GO -- TO BOTH ITT TECH
AND WESTWOOD COLLEGE AND AND I
EVEN WENT HERE.
WAY BACK IN [INAUDIBLE]
NINETEEN EIGHTY THREE BEEN
AWHILE [INAUDIBLE]
ANTEATER -- I ONCE FOR ONE
SEMESTER ALRIGHT.
AND THEN THE MONEY STOPPED --
THERE WAS QUITE A BIT OF MONEY
THAT MY GRANDFATHER HAD -- PUT
ASIDE FOR NOT ONLY ME BUT TO ALL
MY BROTHERS AND SISTERS.
MY GRANDFATHER FELT IT WAS
REALLY IMPORTANT WE ALL.
GO TO COLLEGE SO HE BOUGHT -- TO
WHAT'S A LITTLE PIECES OF REAL
ESTATE IN GAS STATIONS JUST
BUSTED IS HOME ALL OF HIS LIFE
AND THE MONEY FOR US TO GO TO
COLLEGE WAS PRETTY MUCH SET.
WHAT HE HAD NOT COUNTED ON ONLY
PASSED AWAY WAS THAT -- MY
FATHER WOULD HAVE BEEN SELF
NAMED AS EXECUTOR OF THE ESTATE
AND LOSE MOST OF IT IN THE STOCK
MARKET [INAUDIBLE]
WELL.
SO.
ARE YOU SEE I CAME TO AN ABRUPT
HALT AND I GOT A LOT FOR MY MUSE.
BOTTOM OF THE BOTTLE FOR A A FEW
YEARS.
AND THEN I FINALLY PULLED OUT
AND WAS ABLE -- TO OBTAIN SOME
SKILL THROUGH A FRIEND AS AN
INSTALL OR SATELLITE SYSTEMS
THESE WOULD NOT BE THE A SMALL
ONE YOU SEE NOWADAYS THESE WOULD
BE.
WELL FOOT MOTORIZED ISSUES THAT
SWUNG BACK AND FORTH IN IT ONE
OF TWENTY FIVE SATELLITES.
AND I GOOD GOOD.
AND I STARTED MAKING MONEY AT IT.
I THOUGHT LIFE WAS GOING TO BE
GOOD -- BUT TO THE ECONOMY
STARTED FALLING APART -- AROUND
TWO THOUSAND NOT BADLY BUT
ENOUGH THAT.
YOU COULD SEE THE TECH BUBBLE
WAS GOING TO BURST SO I DECIDED --
WELL I'VE GOT SOME MAMA
KNOWLEDGE IN COMMUNICATIONS HERE
I SHOULD PROBABLY UP TRY AND
EXPAND THAT INTO -- SOME IT WORK
AND GET.
ALL THE ADVERTISING THAT I WAS
SEEING FOR ITT TECH AND WESTWOOD
COLLEGE AND THEY WERE JUST.
REALLY GLORIA SLICK WELL
PRODUCED COMMERCIALS.
HOW CAN I NOT BUY INTO IT -- SO
I WOULD TO HEAR A SALES PITCH
FROM ACCOUNTS WERE AT ITT TECH
HE TOLD ME EXACTLY WHAT I WANTED
TO HEAR THAT ALL MANNER OF JOBS
WOULD BE BESTOWED UPON ME IF I
JUST GOT THIS EDUCATION.
AND MONEY WOULD BE NO PROBLEM
JUST SIGN HERE TAKE OUT THE
STUDENT LOANS YOU'LL SEE A
COUNSELOR SHE'LL BEYOND.
WHICH SHE DID.
SIGN A LOT OF PAPERWORK NOT
REALLY THINKING ABOUT IT AS I
SHOULD OF SO I GOT TO ACCEPT
SOME BLAME THEIR I JUST HAVE
THIS BLIND.
THOUGHT THAT -- WELL I'LL GET A
REALLY GOOD JOB IN THEM I'LL PAY
BACK THE LOANS SEE NO PROBLEM.
WELL.
AS AN ITT LESSEN THE YEAR BEFORE
IS WILLING TO THROW IN THE TOWEL
THERE THE CLASSROOM LIGHTING WAS
POOR.
THE TEXT BOOKS WERE NOT ON PAR
WITH ANYTHING I HAD EVER SEEN
THEY WERE LOADED WITH ERRORS.
ARE INDEED WE SPEND A LOT MORE
CLASS TIME CORRECTING TEXTBOOK
ERRORS LEAVING.
LEAVING YOU WITH SO LITTLE OF A
CLASSROOM EXPERIENCE HE WONDERED
WHAT YOU SHOWED UP.
INSTRUCTOR COMMUNICATION MADE IT
CLEAR THAT ENGLISH WAS NOT THEIR
PRIMARY LANGUAGE AND A LOT OF
CASES.
CONSTANT REQUESTS FROM STUDENTS
FOR THE INSTRUCTOR TO REPEAT.
WHAT HE SAID -- MET WITH SCORN
TO SAY THE LEAST.
I FINALLY TOSSED UP MY HANDS AND
I WAS RIGHT FOR YET ANOTHER
SALES PITCH FROM CROSSTOWN RIVAL.
WESTWOOD COLLEGE.
I PRETTY MUCH WENT FROM THE
FRYING PAN.
INTO THE DEEP FRYER.
SO -- THE WEST PERSONNEL.
ASKED IF THEY COULD DO BETTER
AND THEN ITT TECH -- OF COURSE
WE WERE ASSURED THAT THEY COULD.
WE WERE AGAIN GIVEN A SPIEL
ABOUT THE SKILLS OF TOMORROW.
WHICH AT THE END OF MY EDUCATION
WOULD TRANSLATE INTO AN OFFER
FOR A MINIMUM WAGE JOB OFFERING
A WHOLE LOT LESS THAN WHAT I WAS
CURRENTLY MAKING IS A SATELLITE
DISH INSTALLER.
SO I WAS LEFT WONDERING HOW WAS
IT LIKE.
INTEL THIS.
STUDENT DEBT FOR JOBS THE JUST
APPARENTLY ARE NOT THERE OR
PIECE OF LITTLE THEY'RE NOT
WORTH GOING AFTER -- I DID
MANAGE TO EEK OUT PAYMENTS
HOWEVER TO STUDENT LOAN
PROVIDERS I WAS STILL WORKING AS
A SATELLITE DISH -- TECHNICIAN
AND WHAT I DID NOT THINK ABOUT
THE TIME WAS THAT I REALLY WAS
NOT MAKING ANY OF THE PRINCIPAL
PAYMENTS I WAS ONLY REALLY.
PAYING OFF LARGELY THE INTEREST
SO THE DEBT KEPT.
MOUNTING AND MOUNTING AND
MOUNTING BUT AGAIN I FIGURED
WELL THE FUTURE IS BRIGHT SURELY
IF I JUST KEEP AT IT.
THIS WALL TAKE CARE OF ITSELF.
AT SOME POINT.
THEN THE TWO THOUSAND EIGHT
RECESSION HEADS AND EVERYTHING
FELL APART -- I COULD MAKE
PAYMENTS ANYMORE COMPOUNDING THE
PROBLEM WAS THE EVER INCREASING
RANCH.
MEANING I WAS THROWING NEARLY
90% OF WHAT INCOME I HAD PAYING
BUT OUT.
OF THE PROBLEM BEING I WAS
TRAVELING TO DO A LOT OF SERVICE
CALL WORK THE TRAFFIC IN
CALIFORNIA GOT SO BAD THAT WHERE
IS I'VE BEEN ABLE TO GET.
TO ME BEFORE SERVICE CALLS A DAY --
WITH THE TRAFFIC BECOMING AWARE
ONCE THEN I GOT TO SERVICE GOALS
AND FUNNY JUST ONE SERVICE CALL.
I CAN JUSTIFY EIGHT FOUR HOURS
OF ROUND TRIP TRAVEL FOR A JOB
IT MIGHT TAKE ME. TWENTY TO
FORTY MINUTES.
IT IT.
IT WAS THAT KIND OF MATH SO.
ADDITIONALLY MY SAVINGS FROM
COVERING THE SHORTFALLS WERE NOW
EXHAUSTED I TOOK A JOB WITH
EIGHTEEN T. THAT I THOUGHT WAS
GOING TO WORK OUT IT DIDN'T.
THIS DID NOT STOP NAVIGANT THE
DEBT COLLECTOR FROM SEIZING MY
TAX REFUND AND FURTHER
COMPOUNDING MY FINANCIAL ROSE --
FINANCIAL WOES.
AFTER ANOTHER RENT INCREASE I A
WAS EVICTED IN TWENTY FIFTEEN
AND BEGAN LIVING IN THE BACK OF
MY PICKUP TRUCK [INAUDIBLE]
DURING.
GOOD TO UC IRVINE.
YOU WORK FOR AL DAVIS OF THE
RAIDERS.
AND NOW HERE YOU ARE IN THE BACK
OF THE PICK UP TRUCK.
STARING UP AT THE CAMPER SHELL
CEILING AND THE RAIN IS FALLING
HOW DID YOU.
GET HERE.
AND I'M STILL.
GETTING NOTICES FROM HAVING INTO
ABOUT -- ABOUT THE DEAD -- I
FINALLY HAD TO FILE A PERSONAL
BANKRUPTCY BECAUSE THE MONEY HAD
JUST SITUATION JUST FALLING
APART.
ALL TOGETHER.
AND THIS DID NOT REFLECT WELL ON
MY STUDENT LOAN DEBT.
INDEED WHAT HAS HAPPENED BECAUSE
NOW THE END HAS REPORTED ME AS
AS A DEBTOR IT HAS AFFECTED MY
CREDIT.
AND WHERE IS I HAVE HAD SEVERAL
CHANCES FOR SOME HIGHLINE.
REALLY WELL PAYING JOBS.
UNFORTUNATELY THEY REQUIRE
SOMETHING CALLED A SECURITY
CLEARANCE.
IF YOU'RE APPLYING FOR SECURITY
CLEARANCE ONE OF THE CONDITIONS
IS.
YOU ARE.
HOW FAR BACK CREDIT?
SO I DON'T KNOW I JUST FEEL LIKE
THE BANKS ARE AGAIN IN CONTROL
OF EVERYTHING AND THEY GOT
COMMON THEY GOT YOU GO -- ONE AT
THIS POINT TIME UNEMPLOYMENT I'M
PUSHING SIXTY FIVE EMPLOYMENT
OFFICER OFFERS ARE PRETTY
DIFFERENT DIFFICULT TO COME BY --
AGAIN I'VE HAD ONE JOB THAT LOOK
REALLY PROMISING I PASSED
EXAMINATION FOR BUT BECAUSE OF
HIS STUDENT LOAN DEBT BUT I AM
JUST NOT ABLE TO GET A HANDLE ON
AGAIN GETTING A SECURITY
CLEARANCE IS ALMOST IMPOSSIBLE.
I ALSO ATTACHED TO THIS BAD
WESTWOOD COLLEGE WAS FAMOUS FOR
THEIR WESTWOOD PROMISE -- THAT
WAS THERE'D SPECIAL DEAL WHERE
THEY PROMISED YOU THAT IF.
ANY COURSE MATERIALS CHANGED HE
WOULD BE ABLE TO TAKE THE COURSE
OVER AGAIN AT NO CHARGE.
YOU WOULD ONLY HAVE TO PAY LAB
FEES.
I DON'T KNOW HOW YOU TAKE THE
COURSE OVER AGAIN AT A SCHOOL
THAT'S CLOSED.
SO THERE GOES THAT PROMISE --
IT'S ALSO DIFFICULT TO APPLY FOR
A JOB WITH WEST WOULD ON YOUR
RESUME YOU SPEND MORE TIME
EXPLAINING.
THE SCHOOL IN SELLING YOURSELF.
AND THAT PUTS YOU AT AN
IMMEDIATE JOB DISADVANTAGE.
I'M STUCK WITH A WORTHLESS
DEGREE FROM A SCHOOL THAT
DOESN'T EXIST.
GIVEN MY AGE AND THE FACT THAT
BOTH PARENTS AND BOTH MY PARENTS
PASSED AWAY BETWEEN THE AGES OF
SIXTY EIGHT TO SEVENTY ONE MY
BIGGEST FEAR NOW IS THE STEP.
IS GOING TO FOLLOW ME TO MY
SOCIAL SECURITY PAYMENTS WHICH
WILL BE ATTACHED AND FINALLY TO
MY GRAVE.
SO.
I'M LEFT.
NOT KNOWING REALLY WHAT TO DO.
ARMED WITH DEFINITELY THINK WITH
THIS PANEL HEARD FROM YOU.
GOT A REAL CROSS SECTION.
OF JUST YOU KNOW WHAT PEOPLE ARE --
STRUGGLING WITH WHEN IT COMES.
TO ARE BATTLING WITH STUDENT
LEARNED THAT IN SOME CASES
STUDENT LOAN DEBT THAT SEEMS AS
IF.
IT'S BEEN FRAUDULENTLY ACCRUED.
I'M I'M HOPING THAT OUR NEXT
PANEL CAN PROVIDE.
IN A GLIMMER OF HOPE FOR IS SOME
LIGHT AT THE END OF THE TUNNEL --
SO ARE THE SUBJECT OF OUR NEXT
PANEL IS EFFORTS TO SUPPORT
STUDENT LOAN BORROWERS SO THANK
YOU TO ALL OF YOU.
FOR BEING HERE AND FOR BEING
PART OF THIS CONVERSATION AND
FOR SHARING YOUR STORIES WITH US
AND I'M.
LIKE I SAID I'M IN A COMMITTED.
TO MAKING SURE THAT YOU WHATEVER
I CAN DO IS A CALIFORNIA STATE
ASSEMBLYMEMBER AND WHATEVER THIS
THE ASSEMBLY CAN DO THAT WE ARE
DOING THAT TO PROVIDE.
RELIEF AND ENSURE THAT THAT MORE
FOLKS ARE BEING VICTIMIZED IN
THIS WAY.
ALRIGHT AND OUR SERVER NEXT
PANEL WOULD LIKE TO WELCOME AND
SUZANNE MARTIN DALE.
WHO IS THE SENIOR POLICY COUNSEL
AND WESTERN STATES LEGISLATIVE
MANAGER AT THE ADVOCACY DIVISION
OF CONSUMER REPORTS?
JONATHAN GO LATER THE PROFESSOR
OF LAW AT THE UNIVERSITY OF
CALIFORNIA AT IRVINE SCHOOL OF
LAW SO YOU SEE I LAW SCHOOL.
JUST MAINLY IT WAS A STAFF
ATTORNEY AT THE LEGAL AID
FOUNDATION OF LOS ANGELES.
OF LOS ANGELES.
GOOD MORNING THANK YOU SO MUCH
FOR JOINING US.
THANK YOU MADAM CHAIR I WOULD
REALLY APPRECIATE YOUR CONVENING
THIS COMMITTEE -- I THINK YOU'RE
LEADERSHIP IS ALREADY BEING --
DEMONSTRATED ON IN PARTICULAR BY
HIGHLIGHTING THE STORIES OF
BORROWERS.
STUDENTS AND STUDENT BORROWERS
AND GIVING THEM A PLATFORM A
PUBLIC PLATFORM IS BEING LIVE
STREAMED UP AND DOWN CALIFORNIA
ACROSS THE COUNTRY.
TALK ABOUT THEIR LIVES
EXPERIENCES WITH STUDENT DEBT I
THINK IT'S INCREDIBLY POWERFUL
AND DEMONSTRATES WHY CALIFORNIA
NEEDS TO BE A LEADER.
I SHOULD NOT WAIT FOR THE
FEDERAL GOVERNMENT -- TAKE STEPS --
CRUCIAL MEANINGFUL STEPS TO
IMPROVE THE LIVES OF PEOPLE WHO
ARE CHOOSING JUST TRYING TO GET
AN EDUCATION -- BUT
UNFORTUNATELY HAVE TO GO INTO
DEBT TO DO IT.
SO MY NAME IS SUZANNE MARTIN DEL --
WORK FOR COME TO ADVOCACY
DIVISION OF CONSUMER REPORTS I'M
ALSO A LAWYER AND WENT TO LAW
SCHOOL THEREFORE I AM ALSO ONE
OF YOU I HAVE STUDENT AT I HAVE
A LOT OF IT -- AND WE ARE NOT
ALONE -- AND SO DON'T EVER FEEL
LIKE IT'S YOUR FAULT BECAUSE
YOU'RE IN DEBT -- AND KNOW THAT
THERE ARE MANY OF US WHO ARE
TRYING TO WORK TO ESTABLISH
SOLUTIONS -- AND THAT CAN NEVER
THINK FULLY MAKE PEOPLE HOLE FOR
HAVING HAD TO GO INTO DEBT TO
GET THEIR EDUCATION BUT THEY CAN
HOPEFULLY MAKE THINGS BETTER.
SOME OF THE STORIES ON THE
PREVIOUS PANEL.
AMPLY DEMONSTRATE WHY CALIFORNIA
NEEDS TO STEP UP TO THE PEOPLE
WHO CURRENTLY HOLD DAT IT IS A
CRISIS.
AND YOU CAN THINK ABOUT THAT ONE
POINT FIVE TRILLION THINK THAT
THAT'S IT'S A CRISIS BECAUSE
LARGE AND BECAUSE SOME PEOPLE
HAVE.
HUNDREDS OF THOUSANDS OF DOLLARS
OF DEBT THAT'S NOT REALLY THE
WHOLE STORY WE HAVE A REPAYMENT
CRISIS AND IN FACT PEOPLE WHO
HAVE VERY SMALL BUT LOAN
BALANCES.
RELATIVELY SPEAKING ARE OFTEN
THE ONES WHO ARE MOST LIKELY TO
FALL BEHIND -- AS PREVIOUS PANEL
SAID A HALF MILLION PEOPLE ARE
BEHIND RIGHT NOW IN CALIFORNIA
ON THEIR LOANS AND THE VAST
MAJORITY OF THOSE LOANS ARE
FEDERAL LOANS.
THEY HAVE PROGRAMS AND BENEFITS
ATTACHED TO THEM THERE SHOULD
NEVER BE A FEDERAL LOAN.
IN DELINQUENCY OR DEFAULT
BECAUSE YOU CAN ALWAYS AT LEAST
POTS YOUR PAYMENTS THERE INCOME
DRIVEN REPAYMENT PLANS A TIED TO
YOUR INCOME AND THAT CAN MAKE
YOUR PAYMENT AS LOW AS ZERO
DOLLARS.
AND YOU'RE STILL CURRENT SO
WHAT'S GOING ON YOU KNOW YOU CAN
TRY TO EDUCATE YOURSELF AND SOME
OF THE PEOPLE ON THIS PANEL HAVE
ALREADY DEMONSTRATED TO
INCREDIBLE LENGTHS TO WHICH THEY
HAD TO GO TO EDUCATE THEMSELVES.
BUT THAT'S WHAT.
A NOTE THAT WAS SORRY.
THE YEAH THE UNIVERSE IS GIVING
OKAY.
BUT THE POINT IS.
NO THE BURDEN SHOULD NOT BE ON
THE BORROWER TO HAVE TO LEARN
STUDENT LOAN LAW OKAY THE BURDEN
SHOULD NOT BE ON INDIVIDUAL
PEOPLE TO HAVE TO NAVIGATE THE
SYSTEM.
WE HAVE A GOVERNMENT FEDERAL
GOVERNMENT THAT IS CONTRACTING
WITH MULTI MILLION DOLLAR
COMPANIES NOW DO YOU JUST
ANNOUNCED THAT IT IS ON THE
FORTUNE FIVE HUNDRED LIST YEAH
NOW HAVING IT.
RIGHT THERE GET MADE THEY'RE
MAKING A LOT OF MONEY OFF THE
BACKS OF BORROWERS SO WHY DON'T
THEY HAVE A RESPONSIBILITY TO
ENSURE THAT PEOPLE CAN ACCESS
THE BENEFITS AND THE RIGHTS THEY
SHOULD HAVE WE HAVE RIGHTS WERE
SUPPOSED TO HAVE RIGHTS AS
BORROWER SO WHAT'S GOING ON HERE.
WHAT'S GOING ON HERE IS THAT
THERE IS NO INDUSTRY WIDE
CONSUMER PROTECTION FRAMEWORK
WITH ENFORCEABLE LEGAL RIGHTS
CURRENTLY APPLICABLE TO STUDENT
LOAN SERVICERS -- A LOT OF WORK
WAS DONE IN UNDER THE PREVIOUS
ADMINISTRATION AT THE CONSUMER
FINANCIAL PROTECTION BUREAU TO
TRY TO MOVE TOWARD CREATING
REGULATIONS THAT WOULD BE
ENFORCEABLE AGAINST THESE
COMPANIES BUT THAT WORK UNDER
THE CURRENT ADMINISTRATION HAS
BEEN UTTERLY SCRAPPED.
SO WHAT CAN CALIFORNIA DO.
CALIFORNIA CAN DO WHAT IT DID.
AND VERY ANALOGOUS SITUATION FOR
HOMEOWNERS IN THE MIDDLE OF THE
MORTGAGE AND FORECLOSURE CRISIS
THE CALIFORNIA LEGISLATURE
STEPPED UP BECAUSE THEY WERE
HERE IN STORY AFTER STORY.
OF HOMEOWNER WITH A MORTGAGE
LOAN AND MORTGAGE LOAN SERVICER
THAT WASN'T WORKING WITH THEM
ARE HELPING THEM AND WAS NOT
INCENTIVIZED IN ANY WAY TO
PREVENT UNNECESSARY FORECLOSURES
SO THE CALIFORNIA LEGISLATURE IN
TWENTY TWELVE PASSED THE
CALIFORNIA HOMEOWNER.
RIGHT THAT MADE IT SERVICES HAVE
TAKE AFFIRMATIVE STEPS TO ENSURE
THAT YOU HAVE OPPORTUNITY TO
APPLY FOR A LOAN MODIFICATION I
GET INFORMATION HAVE A SINGLE
POINT OF CONTACT SOME REALLY
BASIC CONSUMER PROTECTIONS TO
PREVENT PEOPLE FROM LOSING THEIR
HOMES.
WELL GUESS WHAT DOES NOT SOUND
FAMILIAR WE HAVE LOAN SERVICERS
WERE THE GATEKEEPERS TO YOU
ACCESSING YOUR RIGHTS AS AN
EDUCATION LOAN BORROWER AND
THEY'RE NOT DOING ANYTHING TO
HELP YOU.
SO MANY OF US IN THIS ROOM ARE
WORKING ON LEGISLATION HAS BEEN
PREVIOUSLY MENTIONED AB THREE
SEVENTY SIX THE STUDENT BORROWER
BILL OF RIGHTS.
THIS BILL WOULD BE A FIRST IN
THE NATION PIECE OF LEGISLATION
TO CREATE AFFIRMATIVE
ENFORCEABLE RIGHTS FOR BORROWERS
SO WHAT DO I MEAN BY THAT.
IT WOULD REQUIRE SERVICES TO
HAVE MINIMUM STANDARDS TO TRAIN
THEIR STAFF TO ACTUALLY KNOW
WHAT PS A LOT IS TO KNOW ABOUT
THAT TEMPORARY EXTENSION THAT
YES IT DOES EXIST -- TO KNOW
ABOUT DIFFERENT PAYMENT PLANS TO
KNOW ABOUT SPECIAL.
SPECIAL NEEDS AND RIGHTS THAT
MAY APPLY TO PEOPLE WHO ARE
CONNECTED TO THE MILITARY WHO
HAVE A DISABILITY BECAUSE
SOMETIMES IF YOU'RE DISABLED YOU
CAN GET YOUR LOAN CANCEL
COMPLETELY -- PEOPLE WHO ARE
ELDERLY OTHER SPECIAL
POPULATIONS IT WOULD PROHIBIT
ABUSIVE PRACTICES ABUSIVE
PRACTICES BEING DEFINED AS YOU
LOAN SERVICER YOU CAN'T TAKE IT
ON REASONABLE ADVANTAGE OF
SOMEONE IN ABILITY TO UNDERSTAND
WHAT THE WORLD'S GOING ON WITH
THEIR STUDENT LOANS.
AND THIS MAY LEAD THEM ASTRAY --
THIS LEGISLATION WOULD ALSO
CREATE A BAR WITH ADVOCATE AT
OUR EXISTING STATE FINANCIAL
REGULATORS WOULD BE A POINT
PERSON WHO WOULD BE A PUBLIC
WATCHDOG -- POLICING THE
INDUSTRY AND MAKING SURE THE
PEOPLE ARE GETTING THE RIGHTS
RESPECTED AND MOST IMPORTANTLY
IT WAS SUCH A DISSIDENT BECAUSE
OF THESE STUDIES MINIMUM
STANDARDS.
AND WE MAKE THEM ENFORCEABLE AND
WHAT THAT MEANS IS THAT YOU CAN
HAVE YOUR DAY IN COURT.
YOU CAN YOU CAN GO AFTER THEM
AND YOU CAN HOLD THEM
ACCOUNTABLE IF THEY'RE NOT
TREATING YOU PROPERLY US AND WE
BELIEVE THAT THIS IS A HUGE --
HUGE OPPORTUNITY TO STEP FORWARD
AND AGAIN TO PROTECT THE THREE
POINT SEVEN MILLION AND COUNTING
PEOPLE WHO ARE A WHOLE LOANS IN
THE STATE -- TO ENSURE THAT
THEY'RE GETTING THE RIGHTS
PERSPECTIVE BECAUSE WHEN LOAN
SERVICERS FEEL YOU AS YOU'VE
HEARD TODAY THEY HAVE FAILED TO
MANY PEOPLE IT ADDS INSULT TO
INJURY IT INCREASES THE OVERALL
COST.
OF GETTING AN EDUCATION AND IT'S
SIMPLY UNACCEPTABLE -- SO -- WE
REALLY APPRECIATE HAVING THE
OPPORTUNITY TO DISCUSS THIS OF
THE COMMITTEE -- TODAY AND
REALLY LOOK FORWARD TO
CONTINUING TO WORK WITH YOU AS
WE TRY TO ADDRESS THE CURRENT
EXISTING CRISIS FOR THOSE WHO
CURRENTLY HOLD STUDENT DEBT
THANK YOU SO MUCH TURNER'S.
WILL IN THANK YOU AND YOU AND
YOU DESCRIBED I THINK THE INTENT
AND THE PROVISIONS OF THE
STUDENT BORROWED BILL OF RIGHTS
YOU SO ELOQUENTLY AND DIED.
ON MARCH AND WHO IS THE THE
PRINCIPAL AUTHOR OF THAT BILL IS
PART IS PART OF OUR COMMITTEE SO
WE ARE.
I'M REALLY PLEASED TO WORKING
WORKING WITH HAND.
TO SHINE A LIGHT ON THIS CRISIS
AND DO WHAT WE CAN IN CALIFORNIA
TO ADDRESS THIS AND YOUR IN THE
CONTEXT OF OF OUR CURRENT
ADMINISTRATION.
RIGHT I NEXT WE ARE GOING TO
HEAR FROM JONATHAN LATER.
GOOD MORNING AND AND THANK YOU
TO THE ORGANIZERS OF THIS EVENT.
MADAM CHAIR FOR PER BRINGING US
TOGETHER TODAY -- MY NAME'S
JONATHAN LATER I TEACH HERE AT
UCI SCHOOL OF LAW AND IN MY VERY
BRIEF REMARKS AND MINDFUL OF THE
TIME KEEPER OVER THERE -- I WANT
TO MAKE THREE POINTS -- AND GIVE
UP I JUST A HINT OF HISTORICAL
PERSPECTIVE -- AND ANTI THOSE
THREE POINTS -- TO A NEW
PARTNERSHIP BETWEEN THIS LAW
SCHOOL AND THE STUDENTS ARE
PROTECTION CENTER.
WAS THREE POINTS ARE THE NEED
FOR REFORM OF LOT THEY NEED FOR
BETTER UNDERSTANDING OF THE
IMPLICATIONS OF THAT.
AND THE DANGER POSED BY THE
CURRENT ADMINISTRATION'S
POLICIES AND ACTION.
I SHOULD CONFESS UP FRONT I'M A
STUDENT LOAN BAR RECOVERING
STUDENT ON BAR OR MYSELF.
IT TOOK FIFTEEN YEARS.
I BORROWED A FRACTION OF WHAT MY
STUDENTS NOW HAVE TO BORROW TO
GO TO LAW SCHOOL.
SO TO BE CLEAR THE AVAILABILITY
OF STUDENT LOANS IS PUT HIGHER
EDUCATION WITHIN REACH OF
GENERATIONS OF STUDENTS WHO
OTHERWISE MIGHT NOT HAVE BEEN
ABLE TO FINANCE THE COST WE
SHOULDN'T LOSE SIGHT OF THAT.
BUT AS A POLICY TOOL WHAT WE'VE
SEEN TODAY IS THAT THAT IS VERY
MUCH A TWO EDGED INSTRUMENT
BECAUSE OF THE BURDEN IMPOSED ON
THE BORROWER'S.
WHEN FEDERAL LAWMAKERS A HALF
CENTURY AGO -- LAID THE
FOUNDATION OF THE FEDERAL
STUDENT AID REGIME THAT WE STILL
HAVE TODAY THEY DID NOT
ANTICIPATE THAT THE LOANS WOULD
BE THE KEY POLICY INTERVENTION
THEY THOUGHT IT WOULD BE THE
GRANTS.
TODAY WE'RE LEARNING ABOUT THE
HARMS THAT DAD CAUSES SO WHAT
NEEDS TO HAPPEN HERE MIGHT THREE
POINTS FIRST REFORM OF LAW.
THE PROBLEMS THAT THE PRIOR
SPEAKERS HAVE DESCRIBED IN
VISCERAL DETAIL -- HAVE ALLUDED
TO THE IMPORTANCE OF DEVELOPING
PROPOSALS FOR FIXES THAT IT AB.
CAN HELP STUDENTS COPE WITH
INDEBTEDNESS THIS INCLUDES A
VARIETY OF A RANGE OF OPTIONS
FROM THE INCREMENTAL TO THE GAME
CHANGING.
THAT LIST INCLUDES AT THE
FEDERAL LEVEL CHANGES TO THE
BANKRUPTCY CODE TO MAKE
DISCHARGE MORE POSSIBLE.
AT THE STATE LEVEL STRENGTHENING
REGULATORY OVERSIGHT OF STUDENT
LOAN SERVICERS AND THE FOR
PROFIT INSTITUTIONS THAT WE'VE
HEARD MORE ABOUT.
AND COMING UP WITH A WORKABLE
HIGHER EDUCATION FINANCE REGIME
THAT RE ALLOCATE THE COST BACK
FROM STUDENTS AND FAMILIES TO
THE TAXPAYER BECAUSE THE SIMPLE
TRUTH IS WE ALL BENEFIT WHEN
HIGHER EDUCATION IS ACCESSIBLE
ON A FAIR AND EQUITABLE BASIS.
SO EXPANDING THE CAL GRANT RIGHT
ONE OF THE BILLS IT'S CURRENTLY --
OUT THERE.
AND THEN SOME MORE INNOVATIVE
OPTIONS LIKE FRONT LOADING THE
PELL GRANT -- I WAS TALKING WITH
A COLLEAGUE BEFORE THIS EVENT
STARTED ABOUT.
IF THE CAL GRANT WERE STRUCTURED
SO THAT IT PROVIDED MORE CASH UP
FRONT IN THE EARLY YEARS WHICH
IS WHEN STUDENTS -- THIS MORE
OFTEN MAY ENCOUNTER DIFFICULTY
IN THE PAYMENT -- THEN IF THEY
HAVE TO LEAVE SCHOOL FOR ANY
REASON THE LOAN APPLICATION THEY
WOULD FACE WOULD BE THAT MUCH
LATER.
SECOND THE NEED FOR MORE AND
BETTER EMPIRICAL RESEARCH WE
DON'T KNOW ENOUGH ABOUT ALL OF
THE IMPLICATIONS OF STUDENT
INDEBTEDNESS.
WE AS SCHOLARS DO NOT CURRENTLY
HAVE LONGITUDINAL DATA TRACKING
STUDENT BORROWERS OVER TIME AS
COMPLETELY AS WE WOULD LIKE.
SO WE NEED BASIC DEMOGRAPHIC
INFORMATION ON WHO BORROWS HOW
MUCH TO GO TO WHAT KIND OF
SCHOOL TO EXPERIENCE WHAT KIND
OF OUTCOME TO A COMPLETE OR NOT.
AND TO LAND WHAT KIND OF JOB
EARNING WHAT KIND OF INCOME
WITHOUT THAT INFORMATION.
DEVELOPING EFFECTIVE IN POSITIVE
INTERVENTIONS LIKE THESE I'VE
ALREADY ALLUDED TO IS THAT MUCH
MORE DIFFICULT.
THIRD WE NEED FOR STEPPED UP
STATE ACTION IN LIGHT OF THE
FEDERAL ABSENCE.
THE CURRENT ADMINISTRATION IN
WASHINGTON IS NOT ONLY NOT
TAKING STEPS TO ADDRESS THE
PROBLEMS CREATED BY STUDENT
INDEBTEDNESS IS ACTIVELY WORKING
TO UNDO POLICIES THAT WERE
INTENDED TO MEDICATE HARM UNDER
THE PREVIOUS ADMINISTRATION.
THE NEW YORK TIMES REPORTED LAST
MONTH AT THE EDUCATION
DEPARTMENT DID NOT APPROVE A
SINGLE APPLICATION FOR FEDERAL
STUDENT LOAN RELIEF IN THE
SECOND HALF OF LAST YEAR. FOR
STUDENTS WHO CLAIM TO BE VICTIMS
OF FRAUD AND TRIED TO GET OUT
FROM UNDER THEIR DEBT.
THE DEPARTMENT IS ALSO
ABANDONING OBAMA HERE RULES AND
INTENDED TO CONSTRAIN FOR PROFIT
INSTITUTION WHOSE STUDENTS
DISPROPORTIONATELY BORROW
DISPROPORTIONATELY BORROW MORE
AND DISPROPORTIONATELY DEFAULT.
I DON'T EVEN HAVE TIME TO TALK
ABOUT HOW POORLY THE DEPARTMENT
IS HANDLED THE PUBLIC SERVICE
LOAN FORGIVENESS PROGRAM BUT
YOU'VE GOTTEN A HINT OF THAT
ALREADY.
THIS LAW SCHOOL IS PARTNERED
WITH THE STUDENT BAR PROTECTION
SENATE INFORM DEVELOPMENT OF
SPECIFIC POLICY PROPOSALS
ADDRESSING SOME OF THESE
PROBLEMS THAT I'VE OUTLINED BOTH
BY STUDY OF LAW.
AND MY RESEARCH ON THE EFFECTS
OF INDEBTEDNESS AND WE HOPE THAT
YOU WILL THINK OF US GOING
FORWARD MADAM CHAIR -- AS A
RESOURCE -- AS YOU THINKING
ABOUT WAYS THE STATE CAN
CONTINUE ITS LEADERSHIP ROLE IN
DEALING WITH THE PROBLEM OF
STUDENT DEBT.
THANK YOU.
SO GRATEFUL FOR THAT OFFER AND
SO GRATEFUL FOR THE LEADERSHIP
THAT THAT YOU HAVE HAVE SHOWN
ALREADY ON THE SUBJECT AND THE
FOR TO WORKING TOGETHER TO
CONTINUE WITH US FORWARD THANK
YOU.
I'M NOT OUR LAST SPEAKER TODAY
I'D JOSEPHINE LADY THANK YOU FOR
BEING HERE.
GOOD MORNING EVERYONE MY NAME IS
JOSEPHINE LEE AND I'M AN
ATTORNEY AT THE LEGAL AID
FOUNDATION OF LOS ANGELES --
WHICH HAS LED EFFORTS IN
CALIFORNIA NATIONWIDE.
ADVOCATE FOR WIDESPREAD STUDENT
DEBT RELIEF -- THE THE PROVISION
OF FREE LEGAL SERVICES.
THANK YOU SO MUCH FOR THE
OPPORTUNITY TO SPEAK WITH YOU
TODAY.
NEARLY ALL OF MY CLIENTS ARE
NONTRADITIONAL STUDENTS -- WHICH
MEANS MANY OF THEM ARE PEOPLE OF
COLOR A LITTLE LIMITED ENGLISH
PROFICIENT THE FIRST IN THEIR
FAMILY TO GO TO COLLEGE VETERANS
AND SINGLE PARENTS.
THESE SAME STUDENTS ARE THE
PRIME TARGETS OF PREDATORY FOR
PROFIT COLLEGES WE'VE ALREADY
HEARD STORIES -- FROM FORMER
STUDENTS -- AND I HAVE CLIENTS
WHO WENT TO BROOKS INSTITUTE OF
PHOTOGRAPHY ITT TECH EVEREST
COLLEGE MARANELLO -- AS WE'VE
HEARD THE SCHOOLS ARE VERY
EXPENSIVE AND OFTEN HAVE VERY
POOR OUTCOMES FOR THEIR STUDENTS --
FOLKS TO GO TO A FOR PROFIT
COLLEGES ARE TWICE IS MORE
LIKELY TO DEFAULT ON THEIR
FEDERAL STUDENT LOANS THAN THEIR
PEERS AT A NONPROFIT PUBLIC
SCHOOLS.
AND WE'VE HEARD ABOUT THE
STAGGERING NUMBER OF FOLKS ARE
INTO FALL IN CALIFORNIA BUT I
WANTED TO BRIEFLY TALK ABOUT
WHAT THAT ACTUALLY MEANS THE
CONSEQUENCES OF DEFAULT.
ARE AT LONG TERM AND VERY SEVERE
I'LL BORROW WHO'S IN THE FALL --
FACES A LIFETIME OF WAGE
GARNISHMENT ONSETS OF TAX
REFUNDS AND SOCIAL SECURITY
INCLUDING SOCIAL SECURITY
DISABILITY.
BAR WAS WONDERFUL AS WE'VE HEARD
ARE NOT ELIGIBLE FOR FOR THEIR
FINANCIAL AID SO THEY CAN'T
CONTINUE THEIR EDUCATION -- TO
BETTER THEIR ECONOMIC PROSPECTS --
THEIR CREDIT IS RUINED -- WHICH
AFFECTS EMPLOYMENT HOUSING AND
JUST THE ABILITY TO MOVE FORWARD
WITH THEIR LIVES -- WE'VE HEARD
BRIEFLY ABOUT THE EFFORTS TO HI
DISCHARGED STUDENT LOANS IN
BANKRUPTCY BUT BECAUSE OF THE
CURRENT UNDUE HARDSHIP STANDARD
IT'S NEARLY IMPOSSIBLE FOR
BORROWERS. TO NAVIGATE THAT ON
THEIR OWN.
AND THERE IS NO STATUTE OF
LIMITATIONS ON STUDENT DIED ON
FEDERAL STUDENT AT SO THE
GOVERNMENT CAN COLLECT FOR THE
REST OF YOUR LIFE.
IN ADDITION TO THE FEDERAL
STUDENT LOAN ISSUE A LOT OF THE
BARS AND I WORK WITH A STRUGGLE
WITH THOUSANDS OF DOLLARS IN
PRIVATE STUDENT DEBT IN FACT AND
FACE DEBT COLLECTION LAWSUITS.
A SIMILAR TO WHAT WE SAW THE
MORTGAGE CRISIS -- THESE DEBTS
ARE ARE BAD THAT AND THEY ARE
TRANSFERRED SEVERAL TIMES AND
OFTEN LOCK PROPER DOCUMENTATION
AND I UNFORTUNATELY MANY OF THE
BORROWERS IN CALIFORNIA ARE NOT
REPRESENTED.
AND SO CALIFORNIA COURTS ARE
RUBBER STAMPING THOUSANDS OF
DEFAULT JUDGMENTS AGAINST THESE
BORROWERS.
AND SO I THINK WE'RE ALL HERE
TODAY BECAUSE WE RECOGNIZE THAT
WE ARE IN A DIRE STUDENT DEBT
CRISIS.
OUTLAW FLOOD WE HAVE A STEADY
STREAM OF BORROWERS ARE
CONSTANTLY SEEKING ASSISTANCE
AND ONE WAY THAT WE ARE HELPING
BOWERS IS TO STOP INVOLUNTARY
COLLECTION BY GETTING VIRUS OUT
OF DEFAULT.
AND INTO INCOME DIFFERENT
PAYMENT PLANS WE ALSO ENGAGE IN
STATE AND OUT NATIONAL FEDERAL
POLICY ADVOCACY TO MAKE SURE
THAT OUR CLIENT COMMUNITIES
VOICES ARE BEING HEARD.
AND WE OFFER TRAININGS TO OTHER
SERVICE PROVIDERS SO THAT THEY
KNOW HOW TO HELP BORROWERS AS
WELL.
OUT WE HELP DEFEND AGAINST
PRIVATE STUDENT LOAN DEBT
COLLECTION LAWSUITS AND A LARGE
BULK OF MY PRACTICE IS HELPING
BORROWERS WHO'VE BEEN DEFRAUDED.
TO SEE CANCELLATION OF THEIR
FEDERAL LOANS -- THROUGH THE
VARIOUS -- ADMINISTRATIVE LOAN
DISCHARGED OPTIONS AS JUST ONE
EXAMPLE OF OUR ADVOCACY EFFORTS
LAST YEAR WE SETTLED THE CASE
THAT WE BROUGHT AGAINST THE
DEPARTMENT OF EDUCATION AND
SECRETARY DEVICE -- FOR
UNLAWFULLY DENYING OUR CLIENTS
KNOWN DISCHARGE APPLICATION --
OUR CLIENT CHARLOTTE ATTENDED
THE CAREER INSTITUTE -- WHICH IS
A FOR PROFIT COLLEGE IN LONG
BEACH -- BACK IN -- NINETEEN
EIGHTY EIGHT I SAY ATTENDED BUT
REALLY SHE VISITED THE SCHOOL
WHEN SHE WAS SEVENTEEN YEARS OLD.
I SHE HAD NOT GRADUATED HIGH
SCHOOL AT THE TIME AND DECIDED
THAT SHE DIDN'T WANT TO ENROLL
IN THE SCHOOL.
NEVERTHELESS KRIEGER INSTITUTE
RECEIVED FIVE THOUSAND DOLLARS
IN FEDERAL STUDENT LOANS FOR HER
ENROLLMENT -- AND THEY COULD
ONLY DO THAT BY FALSELY
CERTIFYING THAT SHE WAS ELIGIBLE
FOR THOSE LOANS -- WHICH BY
FAILING TO PROVIDE HER WITH AN
ABILITY TO BENEFIT TEST CONGRESS
ENACTED ABILITY TO BENEFIT --
TESTS AS A SAFEGUARD SO THAT NOT
HIGH SCHOOL GRADUATES COULD BE
PROTECTED FROM THIS VERY KIND A
FOR PROFIT COLLEGE FUND.
ABOUT THE TIME CHARLOTTE APPLIED.
ON AND FOUND OUT SHE WAS
ELIGIBLE FOR LOAN RELIEF THROUGH
THE FALL CERTIFICATION PROCESS
HER LOANS HAD BALLOONED FROM
500-022-4000 DOLLARS -- DESPITE
MEETING ALL THE REQUIREMENTS FOR
JUST CHARGE THE DEPARTMENT
DENIED HER APPLICATION.
AND SO SHE REACHED OUT TO OUR
OFFICE FOR HELP.
AND WE REPEAT PREPARED AN APPEAL
CITING EVIDENCE THAT THE CAREER
INSTITUTE WAS INVESTIGATED FOR
FRAUD AND EMBEZZLEMENT FINANCIAL
AID.
MISCONDUCT AGAIN THE DEPARTMENT
DENIED THE APPEAL SO WE
RESPONDED BY FILING A FEDERAL
COURT LAWSUIT.
AND EVENTUALLY THE DEPARTMENT
REVERSED ITS DECISION -- GRANTED
CHARLOTTE'S LOAN THIS CHARGE AND
REFUNDED HER EIGHT THOUSAND
DOLLARS FOR THE MOUNT THAT THEY
HAD BEEN COLLECTING FROM HER FOR
THE LAST THREE DECADES.
THIS IS A GREAT VICTORY STORY
FOR OUR CLIENTS BUT WE KNOW THAT
THERE ARE THOUSANDS OF BORROWERS.
UNREPRESENTED AND STILL
STRUGGLING WITH THEIR STUDENT AT
UNFORTUNATELY -- THERE ARE
INSUFFICIENT RESOURCES AND VERY
FEW ORGANIZATIONS THAT DO THIS
KIND OF WORKING CALIFORNIA
WITHOUT SOMEONE TO TURN FOR HELP
BORROWERS ARE GOING TO TURN TO
UNFORTUNATELY -- PREDATORY DEBT
RELIEF SCHEMES WHICH LEGALLY
CHARGE UP FRONT FEES -- FOR
SERVICES AND PROGRAMS THAT
BORROWERS CAN.
TRIP TRUTHFULLY OBTAINED FOR
FREE -- I'D LIKE TO JUST CLOSE
WITH A FEW RECOMMENDATIONS.
FIRST WE SHOULD ENACT STRONG
MINIMUM STANDARDS TO STOP AND TO
REDRESS FOR PROFIT SCHOOL FRAUD.
AT THE SAME TIME WE NEED TO
INCREASE FINANCIAL AID SO THAT
WE CAN ASSIST LOW INCOME
BORROWERS TO COMPLETE --
PROGRAMS THAT LEGITIMATE
NONPROFIT PUBLIC INSTITUTIONS ON
INCLUDING RCS USING COMMUNITY
COLLEGES.
NEXT WE NEED TO RESTORE ACCESS
TO BANKRUPTCY DISCHARGE FOR ALL
STUDENT LOANS CURRENTLY THE
UNDUE HARDSHIP -- STANDARD
APPLIES TO FEDERAL AND PRIVATE
STUDENT LOANS AND UNTIL THIS
HAPPENS WE NEED TO NXT
PROTECTIONS TO ENSURE LOW INCOME
BORROWERS ARE ABLE TO PAY FOR
THEIR LIFE NECESSITIES IF THEY
DO FACE -- A STUDENT LOAN
JUDGMENT.
WE NEED TO PROVIDE MORE FUNDING
FOR LEGAL SERVICES TO HELP
STRUGGLING BORROWERS AND FINALLY
WE SHOULD INCREASE THE RELIEF
AVAILABLE UNDER CALIFORNIA'S
STUDENT LOAN TUITION RECOVERY
FUND. FOR BORROWERS WHO HAVE
BEEN HARMED BY FOR PROFIT
COLLEGE FOUGHT.
I WANT TO THANK THE ASSEMBLY FOR
CREATING THE SELECT COMMITTEE
AND FOR EVERYONE HERE TODAY.
THANK YOU FOR THIS OPPORTUNITY
TO SHARE ON BEHALF OF LEGAL AID
AND ON BEHALF OF OUR CLIENT
COMMUNITIES.
I THINK ONE THING THAT'S
ABUNDANTLY CLEAR IS THAT WE
CERTAINLY NEED COMPREHENSIVE
CONSUMER PROTECTION HERE IN
CALIFORNIA IN THE SAME WAY THAT
WE HAVE CREATED THAT FRAMEWORK.
I'VE FOR MORTGAGES AND FROM FOR
CREDIT CARDS IT SEEMS IT'S
OUTRAGEOUS THAT WE DON'T HAVE
ABOUT.
FIVE YEAR FOR THE STUDENT LOAN
INDUSTRY AND I THINK.
I'M AS WE DISCUSS I DO THINK AB
THREE SEVEN SIX IS A YOU KNOW.
IMPORTANT IMPORTANT STEP AND IF
THERE'S A LOT MORE THAT THAT WE
CAN AND NEED TO DO.
AND SIR THANK YOU AGAIN FOR
BEING HERE AND FOR PROVIDING
YOUR PERSPECTIVES ON THAT WAS.
REALLY REALLY HELPFUL -- FOR ME.
I'M WE'VE GOT AYE WE'VE GOT
ABOUT TWENTY MINUTES NOW AND FOR
PUBLIC COMMENT SO GONNA
VIRGINITY IF THERE'S OTHER FOLKS
IN THE ROOM THAT WANNA.
SHARE THEIR STORIES OR OR SHARE
THEIR PERSPECTIVES -- WE LOVE TO
WELCOME YOU TO DO THAT NOW.
AND WE'RE GOING TO WE'RE GONNA
HAVE PEOPLE DO THAT.
HERE AT THE ODM.
AND SO WE CAN GET AN INFORMAL
LINE.
HE SAID IT [INAUDIBLE]
TEST.
ASKING IF PEOPLE WANT IT I SPEAK
IF YOU CAN KEEP IT TO TWO
MINUTES THAT WOULD BE GREAT.
I'M MORE WAITING TO SEE IF
ANYONE WANTS TO SPEAK I JUST I
WANTED TO I'M ADDRESS ONE OF THE
QUESTIONS THAT.
I THAT SOMEBODY ASKED TO ONE OF
THE QUESTIONS WAS DO MEMBERS OF
THE ASSEMBLY TALK ABOUT THEIR
OWN STUDENT THAT STORY.
ALL OF US ARE HURT BY STUDENT AT
EVEN POLICY LEADERS.
AND SO THAT'S I'M.
THAT REALLY IS GOING TO
TRIGGERED AT IT AND IDEA FOR ME
BUT FIRST I HAVE TALKED TO SOME
OF MY COLLEAGUES ABOUT THIS WHEN
I TALKED ABOUT SETTING UP THE
THE STUDENT AT COMMITTEE.
ON SOME OF MY COLLEAGUES HAVE
SHARED THEIR STORIES AND YOU
KNOW WHAT THEY ARE GRAPPLING
WITH.
I'M ONE PERSON IT'S NOT NOT AN
ASSEMBLY MEMBER BET ON SOMEONE'S
SOMEONE'S PARTNER HAS. SIX
HUNDRED THOUSAND DOLLARS IN
STUDENT LOAN DEBT.
WHICH IS ABSOLUTELY STAGGERING
SO WHEN I WHEN I WAS SETTING UP
THIS COMMITTEE.
WE'RE VERY GRATEFUL AND HOPING
THAT WE CAN DO SOMETHING ABOUT
THAT BUT THE QUESTION ITSELF
REALLY PROMPTED ME I THINK A
MINUTE ASK PEOPLE. TO DO THAT
AND ASK PEOPLE TO KIND OF GET
INVOLVED WITH THIS CONVERSATION
AND USE THEIR STORY IN THEIR
COMMUNITY TURN AGAIN TO RAISE
THE PROFILE.
OF THIS CONVERSATION AND TO MAKE
IT SOMETHING THAT.
IT'S NOT A YEAR THE SMALL GROUP
AS A POLICY LEADERS ARE FOCUSED
ON IN SACRAMENTO BUT THAT
EVERYBODY IS THINKING ABOUT
THINKING ABOUT THE IMPACT ON
THEIR LIVES AND THE LIVES OF
FOLKS IN THEIR COMMUNITY BECAUSE
I THINK THAT IS GONNA REALLY
ENABLE US TO TO ME THIS
CONVERSATION.
FORWARD TO ADDRESS THAT QUESTION
THANK YOU.
FOR FIRST PARKING NOT IDEA.
HI WELCOME THANKS FOR BEING HERE.
THANK YOU VERY MUCH.
MADAM CHAIR AND AND THE
COMMITTEE -- FOR FOR BRINGING
THIS TRUE -- ATTENTION AND IT IS
SOMETHING THAT IS VERY
CONCERNING.
MY NAME IS LAURIE OR TEASE.
AND I'M A THIRTY FIVE YEAR --
PUBLIC SECTOR EMPLOYEE -- I'M
STILL EMPLOYED.
I'M STILL ABLE TO MAKE PAYMENTS
I HAVE TO VETERANS SONS OF
CONTRIBUTED TO MY COMMUNITY -- I
AM HELPFUL TO THE COMMUNITY AND
I HAVE NOT BEEN ABLE TO TAKE
DOWN THE NINETY EIGHT THOUSAND
DOLLARS AND STUDENT AT IT'S MY
UNDERSTANDING IT'S PERHAPS A
RUMOR.
THAT I AM ELIGIBLE FOR STUDENT
LOAN FORGIVENESS.
YEARS AGO -- IF YOU MAKE.
A CERTAIN AMOUNT OF PAYMENTS YOU
COULD BE ELIGIBLE FOR
FORGIVENESS I BELIEVE OF HALF
THE LOAN.
SINCE THEN IT HAS CHANGED -- BUT
I HAVE TRIED AND REQUESTED MANY
TIMES.
TO RECEIVE INFORMATION ONLINE I
HAVE PRACTICALLY BEGGED NOT
BEYOND.
AND VARIOUS COMPANIES TO PROVIDE
ME WITH THIS INFORMATION.
AND IT HAS RUINED MY CREDIT --
IT'S JUST.
IMPOSSIBLE TO BELIEVE THAT THIS
IS ALLOWED I WOULD LIKE TO OFFER
SOME SUGGESTIONS OR QUESTIONS
ASK QUESTIONS.
SHOPS THERE CAN BE A STANDING OR
AT LEAST AN AD HOC COMMITTEE.
UNTIL THIS IS RESOLVED --
TARGETING THOSE GROUPS THAT HAVE
BEEN OFFERED REPAYMENT PLANS OR
OR DISCARD FOR THE DISABLED ONE
ONE COMMITTEE AND PERHAPS.
ONE FOR THE PUBLIC SECTOR
FORGIVENESS PROGRAM UNTIL IT'S
RESOLVED.
AND I'D ALSO BE CURIOUS TO KNOW
HOW A RECENT CLASS ACTION
LAWSUIT WENT.
REGARDING THE PUBLIC SECTOR --
EMPLOYEES THAT HAVE NOT BEEN
OFFERED INFORMATION.
AND THEY WERE TOLD THAT THEY
DON'T QUALIFY THEY WERE GIVEN
ALL KINDS OF EXCUSES BUT I DO
THANK YOU FOR YOUR ATTENTION TO
THIS MATTER.
THANK YOU VERY MUCH.
THANK YOU FOR BEING HERE AND
HOPEFUL THAT AS MOVE THAT THE
FOLKS ARE JOINING US FOR THIS
WORKSHOP MIGHT BE ABLE.
TO I YOUR TO LOOK THROUGH YOUR
SPECIFIC SITUATION AND SEE IF
THEY CAN HELP YOU.
WITH THEM WITH THAT THANK YOU.
HI MADAM CHAIR ARMENIANS CACHES
SOME YOU SEE I STUDENT I JUST
WANNA BE BRIEF TODAY -- AND
SHARE SOME THOUGHTS FROM A LOT
OF MEMBERS OF OUR STUDENT
GOVERNMENT ON JUST IN TERMS OF
THINKING ABOUT THE CONTEXT OF
HOW WE GOT HERE.
BECAUSE I THINK IT'S AN
INSEPARABLE CONVERSATION TO TALK
ABOUT DEBT AND THE COST OF
EDUCATION ITSELF THE COST HAS
BALLOONED ENORMOUSLY.
ON I DID NOT KNOW THIS WHEN I
BEGAN AT UCI BUT THE STATE OF
CALIFORNIA HAS A MASTER PLAN FOR
EDUCATION THAT WE ADOPTED IN.
NINETEEN SIXTY UNDER PAT BROWN
AND I REALLY THINK THAT HELPED
OUR STATE BECOME THE ECONOMIC
SUPER POWER THAT IT IS TODAY.
BUT WE ABANDONED THAT MASTER
PLAN FOR HIGHER EDUCATION IN.
TWO THOUSAND AND SINCE THEN THE
COST OF TUITION HAS INCREASED
EXPONENTIALLY FOR YOU SEE CSU
AND COMMUNITY COLLEGE STUDENTS --
RIGHT NOW CALIFORNIA SPENDS LESS
ON STUDENTS LIKE ME SAUL AND
OTHERS THAN IT DOES ON THE
AVERAGE THIRD GRADER.
THAN THE AVERAGE THIRD GRADER ON
YOUR KIDS.
ON RIGHT NOW WE SPEND 610070% AS
MUCH AS WE DO ON PRISONERS IN
CALIFORNIA AS WE DO ON UC
STUDENTS -- AND I WAS TROUBLING
FOR ME TO LEARN BECAUSE WHEN I
WAS IN HIGH SCHOOL MY SOPHOMORE
AND JUNIOR YEARS MY FATHER WAS
IN PRISON.
SO THE STATE OF CALIFORNIA SPEND
MORE INCARCERATING MEMBER OF MY
FAMILY THAN THEY HAVE SPENT ON
EDUCATION. FOR MY FAMILY.
AND SO I DISAGREE SLIGHTLY WITH
SOME COMMENTS THAT WERE MADE BY
THE FINANCIAL AID DIRECTOR THAT
THESE ARE SELF HELP LOANS.
BECAUSE IT DEBT IS A BURDEN
STUDENT DEBT IS THE BURDEN IS A
BURDEN FOR THAT TO BE PLACED ON
SOMEBODY.
SO I WOULD LOVE FOR THE STATE OF
CALIFORNIA FOR YOU ALL TO THINK
AMBITIOUSLY TO BE BOLD BECAUSE
WE HAVE FAITH IN YOUR LEADERSHIP
WE KNOW THAT THIS IS BEEN A
SERIOUS ISSUE FOR A LONG TIME
IT'S BECOME A CRISIS.
AND WE'D LOVE TO SEE YOUR
LEADERSHIP THANK YOU.
THANK YOU.
YES AND I APPRECIATE YEAH I
APPRECIATE THE LEADERSHIP THAT.
CASH AND AND SELL YOUR SHOWING.
IN YOUR STUDENT COMMUNITY.
THE TRUTH IS WHETHER WE'RE
TALKING ABOUT.
THIS THE STUDENT AT CRISIS OR
WE'RE TALKING ABOUT YOU SO MANY
OTHER THAT BIG CHALLENGES
CALIFORNIA'S FACING.
NOBODY HAS ALL THE ANSWERS RIGHT
AND WE'RE ONLY GOING TO GET THE
ANSWERS ROLLING IN A FIND THE
SOLUTIONS FOR ALL OUT AT THE
TABLE AND AND WORKING TOGETHER
AND SO.
THAT'S YOU KNOW ONE THING I CAME
AWAY REALLY DISMAYED FROM
HEARING FROM SOME OF OUR
PANELISTS YOU REALLY YOU KNOW.
JUST HEARTBROKEN TEARS NAY
STORIES BUT ALSO.
I'M STILL BELIEVING THAT.
WE'VE GOT ENOUGH THERE'S NOT
SMART PEOPLE ENOUGH GOOD PEOPLE
HERE IN CITY CALIFORNIA IN THE
GOVERNMENT AND ALL SWEAR THAT WE
CAN AND WILL SOLVE THIS IF WE
WORK TOGETHER.
GOOD AFTERNOON CHAIRMAN THANK
YOU FOR THIS OPPORTUNITY MY NAME
IS NATALIE LINES I'M A SENIOR
ATTORNEY WITH A HOUSING AND
ADDRESS AND ECONOMIC RIGHTS
ADVOCATES IN OAKLAND.
WE ARE A HOUSING AND ECONOMIC
JUSTICE ORGANIZATION ACTUALLY
PROVIDES LEGAL SERVICES ON
BEHALF OF STUDENT LOAN BORROWERS --
WE SERVICE.
DOZENS OF CLIENTS -- OF
JOSEPHINE WE TALKED ABOUT WE
WORK WITH THESE PEOPLE ON A
DAILY BASIS AND WE SEE THESE
STORIES.
MULTIPLY.
IN OUR CONVERSATIONS AND I THINK
ONE OF THE ISSUES THAT -- THAT I
I KNOW LEGISLATORS FACE.
DAY IN AND DAY OUT IS NOT
HEARING AND NOT FROM THE PEOPLE
WHO ARE REALLY IMPACTED.
AND YOU MENTIONED EARLIER THAT --
THERE'S SOME FEAR THERE'S LACK
OF PUBLIC ENGAGEMENT AND THAT'S
WHY THIS ISSUE HAS BEEN ELEVATED.
IN THE PAST AND I WOULD JUST SAY
THAT.
IT'S IMPORTANT FOR THE
LEGISLATORS UNDERSTAND THAT'S
WHAT A SHAME.
AROUND DEBTS A LOT OF SHAME
AROUND COLLECTION AROUND
DEFAULTS AROUND NOT BEING ABLE
TO GET A JOB BECAUSE YOU CAN'T
PASS A CREDIT CHECK.
AND SO THERE'S NOT A LOT OF
AFFIRMATIVE -- EMPOWERMENT ON ON
BEHALF OF THESE PEOPLE.
WHO REALLY COULD USE?
OF THE ASSISTANCE THAT YOU ALL
ARE.
TRYING TO DEVELOP -- SAID THE
DEGREE TO WHICH THOSE OF US WHO
ARE REPRESENTING -- INDIVIDUALS
WHO ARE IMPACTED CAN BRING THESE
VOICES.
TO LEGISLATORS LIKE YOURSELF WE
WOULD LOVE TO LEARN MORE ABOUT
WHAT WE CAN DO.
THANK YOU FOR THIS OPPORTUNITY
THANK YOU AND THAT IS SUCH A
NICE SUCH AS A CUSHION AND
POWERFUL.
POINT AND AND WHILE TAKEN SIR
THANK YOU FOR YOUR ADVOCACY.
AND FOR YOUR ALL OF YOUR WORK IN
THE SPACE.
GOOD AFTERNOON CHAIR OF SAMANTHA
SAYING WITH NEXT GEN POLICY --
DEFINITELY WANT TO THANK YOUR
LEADERSHIP AND LEAD INS
COMMITTEE I THINK UC IRVINE AND
LAW SCHOOL FOR HOSTING US HERE
TODAY AND ALL THE PARTNERS THEY
MADE THIS POSSIBLE -- AND A BIG
THANK YOU AGAIN TO ALL THE
STUDENTS AND BORROWERS THAT TOOK --
THAT THAT HAD THE COURAGE TO
COME AND TAKE THE TIME TIME IS
MONEY SO IT MONEY EFFORT TO COME
OUT HERE TODAY.
NEXT IN WORKS ON MANY SOCIAL
JUSTICE ISSUES AND IN HIGHER
EDUCATION WE FOCUS ON COLLEGE
ACCESS AFFORDABILITY -- TIME TO
COMPLETION AND EQUITY AND SO ON
THE ON AFFORDABILITY SIDE WE
WORK ON WITH WONDERFUL PARTNERS
ON BOTH SIDES OF THE
AFFORDABILITY A SPECTRUM WHICH
YOU'VE BEEN HEARING A LOT HERE
TODAY.
ON THE FRONT END FIXING
FINANCIAL AID COVERING THE TOTAL
COST OF A COLLEGE AND ON THE
BACK AND PROTECTING BORROWERS
WITH THAT DEBT RIGHT NOW -- SO
AGAIN THANK YOU FOR HAVING THE
WHOLE SPECTRUM HERE TODAY TO GET
THAT -- OVERVIEW AND I JUST
WANTED TO ALSO DEAL PLUG A
MENTION OF THAT UNDOCUMENTED
STUDENTS DON'T HAVE ACCESS TO
PUBLIC LOANS LOANS
DISPROPORTIONATELY IMPACT WOMEN
ESPECIALLY WERE CARRYING THE
BIGGEST BURDEN OF DEBT -- IT
DISPROPORTIONATELY IMPACTS MANY
OF COLORS AT RURAL COMMUNITIES
ARE IMPACTED BY A BRAIN DRAIN.
AND THOSE OVER UP.
I THINK BELIEVE IT IS FIFTY FIVE
ARE THE FASTEST GROWING
POPULATION WAS STUDENT DEBT AND
SO WE NEED POLICIES ON BOTH
SIDES OF THE COLLEGE
AFFORDABILITY DISCUSSION.
SO THAT CALIFORNIA HIRED.
EDUCATION INSTITUTIONS SET UP
STUDENTS FOR SUCCESS THANK YOU
AGAIN AND WE LOOK FORWARD TO
CONTINUE TO WORK WITH THE
COMMITTEE.
AND THANK YOU NEXT AND IT'S BEEN
HERE IS LEE AND SO MANY
IMPORTANT ISSUES AND REALLY
EXCITED TO WORK WITH YOU ON THIS.
HELLO THANK YOU MADAM CHAIR
PERCENT MY NAME'S NATALIA ABRAMS
AND THE EXECUTIVE DIRECTOR OF
STUDENT DEBT CRISIS DOT ORG.
I WE ORGAN ORGANIZATION WAS
FOUNDED IN TWO THOUSAND TWELVE
TO FUNDAMENTALLY CHANGE THE WAY
WE PAY FOR EDUCATION IN OUR
COUNTRY WE BOTH A SUPPORTER LIST
OF ALMOST A MILLION STUDENT LOAN
BORROWERS AND SUPPORTERS.
AND WE HAVE ABOUT A HUNDRED AND
TWENTY FIVE THOUSAND HERE IN
CALIFORNIA.
AND IN FACT WHEN WE SENT OUT A
EMAIL ABOUT TODAY'S HEARING AND
WORKSHOP.
I RECEIVED THIS RESPONSE SO
PLEASE APOLLO.
MY APOLOGIES FOR READING FROM A
CELL PHONE.
I BET THIS CAME FROM LEN
NAKAYAMA AND SHE SAID
UNFORTUNATELY I WILL BE OUT OF
TOWN BUT I CAN'T ATTEND -- AT
THE AGE OF NEARLY SIXTY FOUR I
AM FACED WITH A HUGE STUDENT
LOAN BALANCE SEVENTY THREE
THOUSAND DOLLARS PLUS.
DUE TO THE FACT THAT I RETURN TO
SCHOOL LATER THE MOST PEOPLE.
MY STORY IS PROBABLY NO
DIFFERENT THAN ANYONE ELSE I
BECAME A SINGLE MOTHER WHEN MY
SONS WERE UNDER THE AGE OF FOUR
I HAD TO POSTPONE MY EDUCATION
IS HOW THEY BOTH GRADUATED FROM
HIGH SCHOOL.
THERE WERE TWO JOBS ONE FULL
TIME ONE PART TIME TO PUT
SUPPORT MY FAMILY AND ANY FREE
TIME WAS SPENT WITH MY CHILDREN.
THE DECISION TO EARN A COLLEGE
DEGREE WAS SO I COULD INCREASE
MY SKILLS AND MARKETABILITY.
THE SCHOOL I CHOSE WAS BASED ON
THE FACT THAT I COULD CONTINUE
WORKING FULL TIME WHILE
OBTAINING MY DEGREE.
I JUST DIDN'T REALIZE THAT AT
THE TIME THE COST WOULD BE SO
HIGH.
I HAD OVER TWENTY FIVE YEARS OF
WORK EXPERIENCE IN A SCHOOL
DISTRICT BY BECAUSE I'M NOT AN
EDUCATOR I DO NOT QUALIFY.
THAT MERE NAME YOU MAY NOT BE
TRUE WE WILL WORK WITH THEM --
FOR A LOAN FORGIVENESS OR
REDUCTION THROUGHOUT THE YEARS
OF MY LOANS WERE TRANSFERRED AND
SOLD NOT MY CHOICE AND ENDED UP
WITH.
UNFORTUNATELY I CANNOT MENTION
THE SERVICER SHE'S ASKED ME TO
KEEP THAT PRIVATE DUE TO FEAR OF
RETRIBUTION.
WELL I MADE PAYMENTS THROUGHOUT
THE YEARS FINANCIAL SETBACKS DUE
TO FAMILY CONCERNS PROVIDING
ELDER CARE FOR FAMILY MEMBERS
AND WORK FOR LOW'S DUE TO
DISTRICT BUDGET CONCERNS.
I ENDED UP IN A POSITION WHERE I
WAS UNABLE TO MAKE PAYMENTS MY
SERVICE ARE PLACED ME IN A
DIFFERENT PROGRAM BUT WHILE IT
HELPED IT ALSO INCREASED MY LOAN
BALANCES.
WELL I CONTINUE TO MAKE PAYMENTS
ON MY LOAN I IT WOULD I NEVER
WAS ABLE TO USE MY DEGREE TO
IMPROVE MY WORK STATUS.
I AM NOW FACED WITH THE
POSSIBILITY OF HAVING TO
POSTPONE MY UPCOMING RETIREMENT
DUE TO THE FACT THAT I MAY NAY
NOT EVER EVER BE ABLE TO AFFORD
IT.
SAID THANK YOU FOR ALLOWING ME
TO SHERILYN STORY WE HAVE
THOUSANDS OF STORIES AND THAT'S
JUST A SMALL SNIPPET OF THE
THREE MILLION BORROWERS.
PLUS HEARING CALIFORNIA AND THE
FORTY FIVE MILLION BORROWERS
NATIONWIDE.
THANK YOU THANK YOU AND THANKS
FOR ALL THE WORK THAT YOU'RE
DOING.
GOOD AFTERNOON MADAM CHAIR THANK
YOU VERY MUCH FOR HOSTING THIS
TODAY IF YOU'RE THE TO SHIP ON
THIS ISSUE.
MY NAME'S CODY CANADIAN I'M THE
PROGRAM DIRECTOR AT STUDENT DEBT
CRISIS.
AT THE TIME MENTIONED -- WHAT IS
VERY IMPORTANT ORGANIZATION IS
PUTTING?
DIDN'T BORROWER STORIES FIRST
AND I THINK YOU FOR HAVING SO
MANY POWERFUL STORIES HERE TODAY --
I'D LIKE TO SHARE WITH YOU
QUICKLY MY OWN PERSONAL
EXPERIENCE WITH MY EDUCATION
SOON I'M COMPANY. FOR MY FAMILY
THE COST OF THE CALIFORNIA DREAM
WAS ABOUT A HUNDRED FIFTY
THOUSAND DOLLARS.
I'M I'M A TWIN BROTHER I HAVE A
TWIN BROTHER WHO'S A POLICE
OFFICER AND YOU KNOW.
IMAGINE THE COST OF SENDING TWO
CHILDREN TO COLLEGE AT THE SAME
TIME.
BUT I THINK IT'S REALLY
IMPORTANT TO NOTE ABOUT MY
EXPERIENCE IS THAT TO PAY FOR
COLLEGE -- I NEEDED BOTH MY
PARENTS AND MY GRANDPARENTS HELP --
MY GRANDPARENTS ARMENIAN
REFUGEES WHO CAME TO AMERICA --
IN SEARCH OF THE STREAM AND
EDUCATION WAS A CRUCIAL PART OF
IT -- I CAN SAY NOW TODAY VERY
PROUD THAT I'M A GRADUATE OF THE
UNIVERSITY OF CALIFORNIA SANTA
BARBARA -- AND I CAN SAY
PROBABLY THAT MY BROTHER IS ALSO
A GRADUATE.
CAL STATE SYSTEM AT LONG BEACH --
BUT WHAT HAS BEEN THE ONLY SEAT
SOURCE OF RELIEF ON THE STERN
DECK CRISIS MY FAMILY FOR MY
GRANDPARENTS.
RIVAS DEF AND FOR MY PARENTS IT
WAS TOTAL AND PERMANENT
DISABILITY TODAY I STAND HERE
THIRTY THOUSAND DOLLARS IN DEBT
MYSELF.
AND THE EXPERIENCE HAS BEEN VERY
DIFFICULT -- I'M AN ADVOCATE ON
THIS ISSUE AND EVEN I HAVE
STRUGGLED TO MEET DEADLINES.
I EVEN I'VE STRUGGLED TO
COMMUNICATE PROPERLY WITH MY
LOAN SERVICER.
I MEAN EVEN I'VE RECEIVED WRONG
INFORMATION FROM ISLAND
SERVICING COMPANY -- BECAUSE OF
THAT IT'S ACTUALLY COST ME
THOUSANDS OF ADDITIONAL DOLLARS
IN -- CAPITALIZE INTEREST IN AN
ADDITIONAL COST AND SO I REALLY
URGE YOU TO CONTINUE TO ADDRESS --
PARTICULAR THE BAD ACTORS AND
STUDENT LOAN SERVICING ISSUES
THAT CAN BE ADDRESSED.
AT THE STATE LEVEL.
ALSO THAT THANK YOU VERY MUCH
FOR TAKING THE TIME.
TO THANK YOU YEAH AND HE FIRED
AGAIN HIGHLIGHTING JUST HOW HARD
THE LABYRINTH CAN BE TO NAVIGATE
EVEN FOR SOMEONE AS YOU SAID
HE'S WORKING IN THE SPACE.
GOOD AFTERNOON MADAM CHAIR MY
NAME IS STEPHEN WEISS -- A
PROGRESSIVE POLICY IN TURN --
WITH NEXT GEN -- I WANT TO
REVISIT THE TUITION -- ISSUE --
IF YOU'RE AS MASOCHISTIC AS I AM
AND YOU DO THE NUMBERS -- I
CALCULATED THAT EVERY MINUTE OF
CLASS TIME AT MY UNDERGRADUATE
EDUCATION AT NEW YORK UNIVERSITY --
COST ME TWO DOLLARS AND FIFTY
CENTS EVERY MINUTE -- NOT A
SCHOOL KNOWN TO BE VERY
AFFORDABLE AS WELL.
SO I WANT TO REITERATE THAT
STUDENT LOANS ARE NOT A CHOICE
THERE ARE NECESSITY.
WHEN TUITION IS IN THE HUNDREDS
OF THOUSANDS OF DOLLARS FOR FOUR
YEARS -- I ALSO REJECT THE
NOTION THAT -- THESE BORROWERS
WHO TAKE OUT LOANS ARE SOMEHOW
YOU'RE RESPONSIBLE.
I THINK THAT'S FRANKLY IT'S IT'S
INSULTING AND I KNOW THAT DOES
NOT COME FROM YOU CHAIR THAT IS --
HELPFUL IN THIS ISSUE AND I
APPRECIATE THE WORK THAT YOU'RE
DOING -- I AM ABOUT TO GOING TO
LAW SCHOOL I WAS FORTUNATE
ENOUGH TO RECEIVE A FULL RIDE TO
THE UNIVERSITY OF THE PACIFIC
MCGEORGE SCHOOL OF LAW IN
SACRAMENTO -- DECISION THAT WAS
MADE BASED ON MY FINANCIAL
SITUATION -- FRANKLY I DIDN'T
TRUST THE DEPARTMENT OF
EDUCATION -- TO GIVE ME A A
STUDENT LOAN AND AND NOT.
THROW ME INTO THAT LATER ON SO.
THANKFULLY I WAS ABLE TO RECEIVE
A FULL RIDE BUT THAT ONLY COVERS
TUITION IT DOES NOT COVER
HOUSING TRANSPORTATION UTILITIES
INTERNET TO COMPLETE MY
ASSIGNMENTS FOOD EMERGENCY
EXPENSES HEALTHCARE.
YOU NAME IT.
OR FOOD FOR MY TWO CATS FOR THAT
MATTER.
HOW I PLANNED -- MAKE UP THESE
COSTS IS IN ADDITION TO BEING A
FULL TIME LAW STUDENT I WILL
HAVE -- TO USE MY GIRLFRIEND'S
CAR TO DRIVE LIFT UBER.
FOOD DELIVERY.
ALL JOBS ANYTHING I CAN DO -- SO
I JUST WANT TO REITERATE THAT
THE WAY IN WHICH STUDENT
BORROWERS ARE BEING TREATED IS A
CRIME THERE'S REALLY NO OTHER
WAY OF DESCRIBING IT ACCURATELY --
AND I KNOW THIS HASN'T REALLY
BEEN BROUGHT UP BUT WE HEAR A
LOT OF SCARY HEADLINES ABOUT
ARTIFICIAL INTELLIGENCE -- THAT
WILL FORCE MILLIONS OF PEOPLE
BACK INTO SCHOOL SO THE CLOCK IS
TICKING ON THIS ISSUE AND I JUST
URGE YOU TO MOVE QUICKLY AND
CONTINUE THE WORK THAT YOU'RE
DOING THANK YOU.
ALL THE SHORT PEOPLE HAVE TO DO
THAT.
HI MY NAME IS KRISTEN MCGUIRE I
AM THE WESTERN REGION DIRECTOR
FOR YOUNG INVINCIBLES WE ARE A
NATIONAL POLICY AN ADVOCACY
GROUP FOR YOUNG ADULTS -- I'M
HERE TODAY TO SAY A LITTLE ABOUT
MY OWN PERSONAL STORY BUT TELL
YOU HOW IT'S REALLY NOT THAT
DIFFERENT FROM MANY OF THE YOUNG
ADULTS THAT WE WORK WITH.
I'M I'M A FIRST IN COLLEGE
STUDENT -- I I AM A PRODUCT OF A
SINGLE PARENT AND I HAVE TWO
YOUNGER BROTHERS ONE ONLY
EIGHTEEN MONTHS YOUNGER THAN ME --
AND HE USED TO TELL PEOPLE WE
WERE TWINS SO I CAN KIND OF
IDENTIFY WITH HAVING A TWIN
BROTHER -- SO MY EFC WHEN I WENT
TO COLLEGE WAS ZERO AS SO MY CAL
STATE UNIVERSITY DEGREE.
SHOULD HAVE BEEN FREE -- HOWEVER
I GRADUATED WITH TWENTY EIGHT
THOUSAND DOLLARS IN DEBT -- TO
PAY FOR MY CAL STATE DEGREE --
THROUGH DEFAULT AND THROUGH
INTEREST CHARGES -- I NOW --
420-00 DOLLARS -- AND I'VE BEEN
IN REPAYMENT -- I PAY OVER FIVE
HUNDRED DOLLARS A MONTH -- AND I
SAY THIS TO SAY -- WHEN YOU TALK
ABOUT COMMUNITY LOW INCOME
COMMUNITIES AND COMMUNITIES OF
COLOR -- HIGHER EDUCATION I
SHOULD BE FINANCED IN A WAY
WHERE WE DON'T HAVE TO ASSUME
THAT KIND OF DEBT JUST TO PAY TO
LIVE TO PAY TO EAT -- TO PAY TO
CARE FOR YOUR HEALTH CRISES THAT
YOU MAY HAVE DURING THAT TIME.
SO I APPRECIATE YOU BEING HERE
TODAY TO HAVE THIS CONVERSATION --
I THINK IT'S PART OF A LARGER
AFFORDABILITY AND ACCESSIBILITY
CONVERSATION JUST TO MAKE SURE
THAT WE'RE THAT EVERYONE IS
ALLOWED TO PARTICIPATE IN HIGHER
EDUCATION AS A TOOL TO LIFT US
OUT OF POVERTY.
SO AGAIN I THANK YOU FOR YOUR
TIME AND I APPRECIATE YOUR THANK
YOU THANK YOU FOR EVERYTHING
YOU'RE DOING [INAUDIBLE]
GOOD MORNING.
THANK YOU FOR COMING TO UC
IRVINE TO MAKE THIS CONVERSATION
ALL ACCESSIBLE FOR STUDENTS SO
WE REALLY APPRECIATE IT -- I AM
THE FIRST GENERATIONS OF MY
FAMILY ATTENDING COLLEGE IN THE
UNITED STATES SO MY MOM AND I
WOULD DOMESTIC VIOLENCE
SURVIVORS FROM VIETNAM COMING
HERE WHEN I WAS TOLD -- I'M THE
FIRST TO ATTEND COLLEGE HERE'S
AND FIGURING OUT THE AMERICAN
EDUCATION SYSTEM I CURRENTLY
WORK TWO JOBS TO PAY FOR LIVING
EXPENSES -- BEING IN US ALL THE
CALIFORNIA -- WITHOUT FAMILY
NEARBY -- LUCKILY BECAUSE OF UC
IRVINE -- I HAVE -- YOU SEE A
FIGHT GRANT -- CALVET AID
FEDERAL PELL GRANT BUT A FEW
DAYS AGO I SAW ON THE NEWS THAT
TRUMP'S HATS THE INTENT TO TAKE
PART OF POLL GRANT TOWARDS -- A
NASA PROJECTS AND I'M VERY
CONCERNED ABOUT IT -- STILL
FOLLOWING UP ON THE NEWS AND
WAITING TO SEE IF THERE'S
ANYTHING
CALIFORNIA-DRIVERS-PAY-UNDERFUNDED-STATE-PATROL-PENSION
THE GREEK THE GREED TIME IN A
TIMELY MANNER -- TWO YEARS AGO
AND I THINK LAST YEAR I WE WERE
LOBBYING IN CALIFORNIA STATE
CAPITOL OF THE SPRING BREAK FOR
ASSEMBLY BILL THIRTY ONE FIFTY
THREE TO EXPAND THEIR SOME OF
CAL GRANT.
BUT UNFORTUNATELY I THINK IT
DIED IN COMMITTEE IN COMMITTEE --
SO I THINK THE SUCCESS THE BILL
WAS INTRODUCED -- SENATE BILL
FOUR SIXTY ONE BY APPROX FOR
SOME OF CAL GRANT -- UC IRVINE
I'M LUCKY TO RECEIVE MY
CITIZENSHIP -- US CITIZENSHIP --
A FEW YEARS AGO BUT YOU SEE I
FIND HAS ONE OF THE BIGGEST
UNDOCUMENTED STUDENTS
POPULATIONS SO -- MANY OF US NOT
ONLY.
ADVOCATING FOR OURSELVES BUT
ALSO ADVOCATING FILE
UNDOCUMENTED PEERS SO THERE
SENATE BILL -- THREE FIFTY FOUR
FORD DORADO FOR EXPANDING THE
ELIGIBILITY UP BETWEEN LOANS
PROGRAMS TO INCLUDE A BEEF.
TYPE FORTY STUDENTS ENROLLED IN
PROGRAMS AT UC AND CSU.
AND LAST YEAR ALSO DUE -- TO
STILL ADVOCACY THE UC REGENTS
FINALLY VOTED ON THE FIRST TWO
EDITIONS DECREASED IN NINETEEN
OF TWENTY YEARS BUT THAT'S ONLY
SIXTY DOLLARS AND THERE'S STILL
A LOT MORE TO BE DONE AND WE ARE
FULL TIME STUDENTS.
MANY OF US -- TAKE TIME OUT OF
OUR BUSY SCHEDULE -- TO ADVOCATE
BUT THERE'S ONLY SO MUCH WE CAN
DO SO WE WILL NEED ALL OF YOUR
OPEN.
SO WITH SO MUCH MORE THANK YOU
SO MUCH.
THANK YOU FOR BEING HERE AND FOR
THIS YOU DON'T KNOW ANY IS THE
HI HELLO PLEASURE I THINK IS THE
FOR SOME ACTUALLY GOODNESS
BECAUSE YOU DIRECTLY IN PERSON
I'VE SEEN A LOT.
THE VENTS AND THINGS ARE GOING --
TO MY NAME'S HEATHER WILLIAMS
I'M A RECENT GRADUATE I
GRADUATED BACK IN JUNE AND NOT
AS A PHILOSOPHY MAJOR -- AND
STUDYING PHILOSOPHY I PICKED
LAST WEEK FOR TWO REASONS AND
ONE OF WHICH IS I REALIZE THAT
IT WAS SOMETHING I WAS CAPABLE
AT AND WAS ALREADY INTERESTED IN
BUT ALSO BECAUSE IF I WERE TO
PURSUE A SCIENCE DEGREE OUT OF
PROBABLY HAVE TO TAKE OUT A
WHOLE BUNCH.
LOANS AND I'M I GREW UP WANTING
TO BE ASSIGNED AS WAS LOCATED SO
I MEAN I THOUGHT ABOUT ALL THE
REPERCUSSIONS THAT MIGHT BE FOR
ME IF I WERE.
TO FOLLOW SOME OF THE MORE
COMPLICATED POTS AND THAT WOULD
TAKE A MUCH LONGER EDUCATIONAL --
INVESTMENT AND THAT WOULD HAVE
COST ME A GREAT DEAL ON STUDENT
LOANS SO THAT'S WHY I PICKED THE
DEGREE I CHOSE.
A BEFORE I GOT TO YOU SEE I
ACTUALLY DIDN'T KNOW WHO'S GONNA
GET IN -- I HAVE GOTTEN IN AND I
DON'T KNOW IF I COULD AFFORD IT
AFTERWARDS I'VE HAD EXPERIENCE
OF MY JUNIOR COLLEGE I WENT TO
SENECA COLLEGE AND I EXPERIENCE
I'VE HAD OF I WAS VERY LUCKY
BECAUSE I HAD A A FINANCIAL AID
PERSON.
THERE WHO WAS REALLY GOOD
FRIENDS WITH AND WE HAD THE
BASICALLY HELP ME NAVIGATE A LOT
OF ROUGH WATERS WITH FINANCIAL
AID.
AND I A WAS PREPARED BEFORE EVEN
GETTING YOU SEE I THINKING --
OVER THE SUMMER I NEED TO WORK
THREE DIFFERENT JOBS WHICH I DID.
I HAD PEOPLE BASICALLY DONATE I
DID GO FUND ME -- TO TO BE ABLE
TO HAVE SOME MONEY SAVED UP
BECAUSE I HAD A FEELING AND THIS
WAS PROBABLY THIS IS WHAT AND
EVENTUALLY BECAME THE CASE.
THAT -- IS GONNA TAKE WHILE FOR
FINANCIALLY TO ACTUALLY GET TO
ME SO I DO NOT HOUSING THE FIRST
WEEK OR SO OF SCHOOL BECAUSE THE
ONLY HOUSING I COULD SECURE WAS
AND THE OCTOBER WHICH AND SCHOOL
STARTED LIKE THE WEEK BEFORE
THAT.
AND I WAS SO SCARED OF LIKE NOT
BEING ABLE TO ATTEND MY CLASSES
AND HAVING BEEN VESTED IN
SACRIFICE I GIVE UP MY APARTMENT
IN INGLEWOOD -- LIKE THAT I
ACTUALLY SLEPT BEHIND I OR WHAT
USED TO BE THE SCIENCE LIBRARY --
OVER THERE FOR LIKE THE FIRST
FIVE DAYS IN A TENT.
I HAVE RECORDS OF ALL THIS.
WITH THAT BEING THE CASE -- I
WAS REVIEWING A LOT OF THE THE
STATEMENTS ARE BY MADE AND I WAS
I JUST FEEL LIKE PEOPLE HAVE A
LACK OF UNDERSTANDING OF JUST
HOW -- EDUCATION PLAYS INTO OUR
ECONOMY AS A US CITY STATE AND
COUNTRY.
AND THAT ARE CUT ECONOMIC SYSTEM
IS BIASED AND NOT FUNCTIONING
FOR MOST PEOPLE AND IN ORDER FOR
US TO REMEDY THAT WE HAVE SO
MUCH POWER IN THIS ROOM RIGHT
NOW -- I THINK WE NEED TO TRYING
TO CREATE AN INSTITUTION LIKE
WHERE WE CAN LEVERAGE OUR
EXISTING RESOURCES AND LIKE
LAWSUIT ADDRESS THESE THINGS --
LIKE FINDING FUNDS BETWEEN.
BETWEEN PEOPLE WHO WERE INVOLVED
ALSO ADDRESS THESE THINGS LIKE
NEXT AND THEN -- THEN THE OTHER
ORGANIZATIONS I THOUGHT HERE --
LAST THING IS LIKE I TRYING TO
SUPPORT THINGS LIKE THE GREEN
NEW DEAL WHICH WAS TRYING TO AIM
AT LIKE A AND ECONOMIC PACKAGING
OF HOW IT LIKE.
IT'S ADDRESSING MULTIPLE
PROBLEMS AT THE SAME TIME AND IS
A PROMISED THAT THE UNITED
STATES IS GOING TO TRY AND SHIFT
ITS FOCUS FROM BEING ABOUT --
WHAT WHATEVER IT'S DOING NOW
THAT SEEMS TO BE GETTING AS THE
SITUATION -- TO ECONOMIC JUSTICE
AND AND CLIMATE CHANGE IN THESE
KIND OF THINGS AND SO I
ENCOURAGE YOU TO PLEASE CONTINUE
TO FIGHT FOR THESE BILLS AND
LIKE LET US KNOW WHATEVER WE CAN
DO TO HELP YOU.
I LITERALLY WENT FROM FREE I TRY
TO BE INVOLVED IN SOME KIND OF
LOCAL POLITICAL STUFF SO THANK
YOU.
THANK YOU AND I APPRECIATE THAT
OFFER AND YOUR PARTNERSHIP.
GOOD AFTERNOON MADAM CHAIR --
THANK YOU FOR ADDRESSING THIS
TOPIC THIS IS SUCH A COMPLEX
DIFFICULT TOPIC -- I DON'T KNOW
WHAT I'M TALKING ABOUT BECAUSE I
DON'T KNOW ANYTHING ABOUT THE
PROCESS MY SCHOOL DID NOT
PROVIDE ANY RESOURCES.
ANOTHER MY PARENTS WENT TO
COLLEGE AND THEY WANTED TO HELP
BUT THEY COULDN'T -- I JUST
FIGURED OUT WITH REDDIT IN
GOOGLE AND MYSELF.
AND BEING FREE I'M HERE IN
COLLEGE -- AND I WAS ABLE TO GET
A LOAN BUT I TOOK OUT IN MY OWN
NAME.
BY MYSELF WITHOUT THE HELP OF
ANY PARENTS OR TEACHERS.
OR COUNSELORS OR ANYONE WITH
HEALTH -- ONLY US IS THAT YOU
PROVIDE HIGH SCHOOL STUDENTS
WITH LIKE SOME EDUCATIONAL
RESOURCES AND LOOK INTO
PROVIDING.
TOOL TO NAVIGATE THAT IN THE
FUTURE SO THAT THEY CAN RELY ON
SOMETHING.
THAT'S IT.
ABSOLUTELY YES WE CERTAINLY NEED
TO DO A BETTER JOB ON MANY
DIMENSIONS BUT CERTAINLY. ONE OF
THEM IS JUST UP FRONT MAKING
SURE THAT WE MAKE IT EASY FOR
PEOPLE TO ACCESS INFORMATION. TO
ACCESS THE RESOURCES IN PROGRAMS
THAT THEY'RE ACTUALLY.
ELIGIBLE [INAUDIBLE]
FOR THANK YOU.
WELL THANK YOU THANK YOU AGAIN I
EVERYONE FOR BEING HERE AND
AFTER SPENDING YOUR MORNING WITH
US.
THANK YOU TO OUR STUDENTS OUR
BORROWERS.
OUR OTHER PANELISTS FOR SHARING
YOUR STORIES AND YOUR EXPERTISE.
ON THERE IS IS WE'VE NOTED.
MUCH TO BE DONE HERE AND DID THE
CONVERSATION AROUND STUDENT THAT
IS CERTAINLY ONE ASPECT OF A
BROADER CONVERSATION AROUND.
AFFORDABILITY AND THE
AFFORDABILITY OF HIGHER
EDUCATION AND THE ACCESSIBILITY
OF THE AMERICAN DREAM AND THE
CALIFORNIA DREAM.
SO I THINK I'VE I'M COMING AWAY
WITH A NUMBER AS TO DO USE ON MY
LAST -- IN TERMS OF WHAT WE NEED
TO TO FOCUS ON AT THE STATE
LEVEL AND ALSO I THINK THAT
THERE IS.
A REALLY POWERFUL OPPORTUNITY TO
PARTNER WITH CONGRESSWOMAN KATIE
PORTER -- ON THE FEDERAL LEVEL
AS MANY OF YOU KNOW
CONGRESSWOMAN PORTER IS -- AN
EXPERT ON THE BANK ON THE
BANKING INDUSTRY AND THIS IS A
PLACE WHERE.
I'M I'M LOOKING FOR TO WORKING
WITH HER BECAUSE I THINK THAT
THERE ARE THERE IS IMPORTANT
WORK THAT WE CAN AND WILL DO IN
CALIFORNIA -- BUT WE NEED SOME
PROFOUND CHANGES AT A FEDERAL
LEVEL I TO ADDRESS THIS
HOLISTICALLY.
I'M SO WITH THAT I'M JUST ONCE
AGAIN WANTED TO HIGHLIGHT THAT
OUT WE DO HAVE A WORKSHOP
FOLLOWING THIS WILL HAVE SOME.
SOME ADVOCATES AND EXPERTS THAT
ARE AVAILABLE TO TO TALK THROUGH
YOUR SPECIFIC QUESTIONS SPECIFIC
SITUATION HOPEFULLY BE ABLE TO
OFFER YOU SOME GUIDANCE INSIGHT.
AND PRACTICAL SOLUTIONS I WITH
THAT.
THANK YOU ONCE AGAIN AND DIE.
LOOK FORWARD TO OUR NEXT OUR
NEXT HEARING WHICH WILL BE IN A
COUPLE OF MONTHS WILL KEEP YOU
POSTED THANK YOU FOR
PARTICIPATING AND DIE. FOR NOW
WE ARE ADJOURNED