GOOD MORNING EVERYONE
THANKS FOR COMING OUT ON THIS
SAD ON THIS WET AND COLD
MORNING I AM ASSEMBLY WOMAN
CUDDY PETRIE-NORRIS AND EIGHT
CHAIRED THE SELECT COMMITTEE ON
STUDENT THAT WOULD LIKE TO HAVE
THEM EVERYONE DO THIS MORNING'S
INFORMATION HEARING. THE CITY.
SO MUCH FOR HOSTING US THIS
MORNING I REALLY APPRECIATE IT
WOULD LIKE TO INTRODUCE AT THE
PRESIDENT ERICA AND FOR JANICE
THEY SAY IF YOU WORK. THANK YOU
VERY MUCH GOOD MORNING EVERYONE.
ALL RIGHT YOUR PROOF POSITIVE
THAT YOU WILL NOT BUILT IN THE
RAIN. WE NEED THE RAIN BUT NOT
WHEN YOU HAVE TO DRIVE IN IT.
WELCOME EVERYONE AND THANK YOU
SO MUCH FOR COMING WE'RE SO
HONORED TO ACTUALLY HAVE THIS
OPPORTUNITY TO THIS HEARING TO
BE ABLE TO PROVIDE INFORMATION
I KNOW THAT'S THE NAME. AFTER
THIS- HEARING AND- ARE AT THIS
ISSUE OF STUDENT DEBT IS. ARE
BECAUSE I ACTUALLY PUT MYSELF
THROUGH COLLEGE WITH MY
UNDERGRADUATE AND MY GRADUATE.
AND WHEN I GRADUATED WITH MY
HIGH PAYING PHD IN HISTORY FROM
USC I WAS FIFTY THOUSAND
DOLLARS IN STUDENT DEBT. AND SO
I KNOW WHAT IT IS TO HAVE PANIC
ATTACKS AT FOUR IN THE MORNING
LIKE HOW THE HECK AM I EVER
GOING TO PAY THIS OFF. AND SO
IT'S REALLY IMPORTANT
ESPECIALLY. AS OUR ECONOMY
CONTINUES TO CHANGE AS YOU KNOW
THERE ARE JOBS THERE MAY NOT BE
THE HIGHEST PAYING JOBS THAT
STUDENTS GET RIGHT OUT OF
COLLEGE WHETHER IT'S ASSOCIATE
DEGREE. A BACHELOR'S DEGREE. OR
DATA HIGH PAID IN. EACH IN
HISTORY YES ANY OF THOSE. SO
IT'S REALLY IMPORTANT THAT WE
AS A SOCIETY WE AS A. AS HIGHER
EDUCATION AND THE GOVERNOR THAT
WE UNDERSTAND WHAT IT MEANS TO
HAVE THE PASSION TO PICK
YOURSELF UP AND GET TO A
COLLEGE AND FINISH IT TO HAVE
THE GUMPTION AND THE- STANDING
THAT MAYBE HAVE TO TAKE OUT
LOANS AND THEN AT THE END OF IT
TRYING TO FIGURE OUT OKAY I
NEEDED TO DO ALL THIS I DID IT.
I DO SO I THINK HAVING THIS
KIND OF DIALOGUE IS SO
IMPORTANT AND I REALLY HONORED
AT WE HAVE THE OPPORTUNITY TO
HAVE IT HERE AT OUR COLLEGE AND
I WOULD BE REMISS IF. I DIDN'T
MENTION ARE. CURRENTLY THE-
PRESIDENT OF THE TRIPLE SEAT.
YEAH CALIFORNIA COMMUNITY
COLLEGE- TRUSTEES ORGANIZATION.
HAS BEEN A HUGE ADVOCATE FOR
LOOKING AT HOW TO TRANSPORT
FINANCIAL AID IN THE STATE. AND
ARE FABULOUS STUDENT TRUSTEE
THERE ALEX ARE KEYS IN AND THAT
MY OLD FRIEND THE DOCTOR
PATRICK PERRY- I WISH I WAS
FUNNY WHEN I CAME IN THE ROOM
OF MY HOUSE PATRICK PERRY.
YEARS AGO. WE WERE ON COUNSEL
TO COUNSEL. ARE YOU I WAS A
PART OF THAT CHIEF STUDENT
SERVICES OFFICERS ORGANIZATION
I BEAT HIM UP ON THE BASE.
BECAUSE HE'S SUCH A WORK WITH
THE CALIFORNIA STATE MISSION SO
WITH THAT WELCOME THANK YOU SO
MUCH FOR COMING AND THANK YOU
SO MUCH FOR YOUR PASSION AROUND
THIS A VERY IMPORTANT ISSUE.
GOOD AND GET THIS STARTED OUT
SO WITH THAT AND WE WILL CALL
THIS HEARING TO ORDER IN
ADDITION TO THINKING PASADENA
CITY COLLEGE FOR HOSTING US I'D
ALSO LIKE TO THANK. NEXT GEN
POLICY IN STUDENT DEBT CRISIS
FOR WORKING WITH ME ON TODAY'S
INFORMATIONAL HEARING YOUR
PARTNERSHIP AND YOUR LEADERSHIP
IN THIS AREA REALLY I USED AND
APPRECIATED ME AND BY THE
LEGISLATURE. I AS A WHOLE
EARLIER THIS YEAR WE HELD OUR
FIRST INFORMATIONAL HERE ON
STUDENT THAT TO DEFINE THE
IMPACTS OF THE STUDENT DEBT
CRISIS. IN CALIFORNIA STUDENT
AT ALICE YEAH I IMPACTS NEARLY
FOUR MILLION PEOPLE WITH A
COLLECTIVE. HUNDRED AND FORTY
ONE BILLION DOLLARS IN DEBT
OWED RIGHT HERE IN THE GOLDEN
STATE ALONE THE AVERAGE-
CARRIES MORE THAN THIRTY SEVEN.
THOUSAND DOLLARS. THAT AND THEN
FIVE HOURS ARE BEHIND ON THEIR
STUDENT LOAN. AND MORE OVER THE
SITUATION JUST CONTINUES TO GET
WORSE AS THE FEDERAL GOVERNMENT
ARE CONTINUES TO I FAIL ON
THEIR OBLIGATIONS TO STUDENTS
AND TO STUDENTS ARE OR IS JUST
LAST WEEK IN THE NEW YORK TIMES
REPORTED ON THE ABJECT FAILURE
OF THE PUBLIC SERVICE LOAN
FORGIVENESS PROGRAM THIS
PROGRAM IS MEANT TO PROVIDE
STUDENT LOAN RELIEF FOR THOSE
WORKING IN THE PUBLIC AND
NONPROFIT SECTORS. BUT NINETY
NINE. 99% THIS WILL I. SERVICE
LOAN FORGIVENESS PROGRAM WERE
REJECTED THIS IS AN ACCEPTABLE
AND IT REALLY HIGHLIGHTS THE
URGENCY FOR CALIFORNIA TO ACT
IN FOR CALIFORNIA TO STEP INTO
THIS GAP AND DEMONSTRATE
LEADERSHIP AND I IN THIS AREA
AND TO DEVELOP SOLUTIONS IN
THIS AREA WHICH IS WHY WE ARE
HERE I TODAY WILL BE ON HOUSING
HOW STUDENT THAT IS A IN LOCAL
EIGHTIES TODAY. EFFECTIVELY
TEEN ECONOMIC PROSPERITY FOR
SOME OF OUR MOST SMALLER. AND
TO BE SEEN SINCE LOOKING AT
EDUCATION PROGRAMS TO HELP
THOSE STRUGGLING WITH STUDENT
THAT NAVIGATE A SEEMINGLY
IMPOSSIBLE SYSTEM I
ESTABLISHING STUDENT FIVE AND
CONSUMER PROTECTIONS FOR
STUDENT THAT BORROWERS. AND
EFFORTS TO PREVENT AND STOP AND
ACTORS FROM PAIN UPON STUDENT
BORROWERS IN THE FIRST PLACE.
CALIFORNIA WILL CONTINUE TO
TAKE THE LEAD ON ADDRESSING
STUDENT THAT CART CRISIS AND
WHAT DO YOU TO FIGHT FOR. OUR
WORSE RIGHT I AM REALLY HOPEFUL
THAT THIS OPPORTUNITY WILL
ENABLE US MORE EFFECTIVELY.
EXCITED OF THE DAY A WARM ME
EXCITED TO WORK WITH YOU TO
DEVELOP AND IMPLEMENT
SOLUTIONS. ARE WITH THAT I AM
VERY PLEASED TO WELCOME FOR
THAT. PRESS I DID INCREASE SOME
OF THAT EXTRA I WOULD LIKE TO
WELCOME LINDA H WHO IS. A
DRESSY WITH PASADENA CITY
COLLEGE LINDA THINK. NOT I
WOULD ALSO DO WELL. THREE XIN
POLICY THE EIGHT COMMISSION AND
LASTLY ALEX A KEY C. N. ARE THE
STUDENT TRUSTEE FROM PASADENA
CITY COLLEGE THANK YOU ALL FOR
BEING HERE THIS MORNING AND
TIED FOR SHARING YOUR
PERSPECTIVES WITH FAST. WITHOUT
LINDA WOULD LOVE TO KICK OFF
WITH YOU. THANK YOU YEAH I
THINK WE'RE WE'RE FORTUNATE IN
CALIFORNIA THAT ARE LEGISLATORS
REALLY UNDERSTAND THE
IMPORTANCE OF HIGHER EDUCATION
AND ACCESS TO HIGHER EDUCATION-
IN OUR OUR STATE SO WE'RE ONE
OF THE FEW STATES THAT ACTUALLY
CARRIES THE COST OF STUDENTS.
TUITION IN CALIFORNIA MANY
COLLEGE WE HAVE A FAIRLY LOW
RATE FOR ON CALIFORNIA'S
STUDENTS EVEN AT THE SEASON C.
S. USE. NEVER THE LESS WE SEE
ON THE STRUGGLE FOR STUDENTS.
SO UNDER THE AS DR JOHN IS THAT
I PARTICIPATE- I AM THE
PRESIDENT OF THE CALIFORNIA
COMMUNITY COLLEGE TRUSTEES SAYS
XIN TWENTY ONE OF A SELECTIVE
PROCESS STATE- AND LAST YEAR WE
IMPLEMENTED I'M ARE WE
INITIATED TO TASK FORCES TO AT
THE- INSISTENCE FACE AND- FELT.
THAT ARE GETTING IN THE WAY OF
STUDENTS BEING ABLE TO SUCCEED
I WAS HEADED BY DR KEITH CURRY
OF COMPTON DR PAMELA SKIN OF
SAN DIEGO. AND I CO CHAIRED THE
FINANCIAL AID TASK FORCE- AND I
CALLED THE ONE POINT OH TASK
FORCE BECAUSE THERE'S SO MUCH
TO LOOK AT AND SO MANY THREATS
TO CONSIDER. I'M SO WE FOCUSED
ON. THE RESEARCH. CALIFORNIA
AND WHAT CAN WE DO TO. MORE
AVAILABLE TO OUR STUDENTS. SO
IS THE ASSEMBLY MEMBER SAID I
MEAN THERE'S POSSIBILITY
THERE'S LOTS OF SOLUTIONS THAT
HAVE BEEN PUT OUT BUT WHY ARE
THEY BEING IMPLEMENTED AND WHY
ARE NICE FOR STUDENTS NOT
GETTING ACCESS TO IT. SO ONE OF
THE THINGS WE LOOKED AT WAS-
THE FINANCIAL AID ACCESS FOR
STUDENTS. AND HOW IS THAT HOW
IS THAT EMPLOYMENT AND HOW MANY
OF OUR STUDENTS ARE ACTUALLY
GETTING TO IT. I'M THERE. AND
REPORT- IT WAS A LITTLE
DAUNTING HOW WE ACTUALLY JUST
PRESENTED THE RIVERSIDE
CONFERENCE. I WAS PROUD BUY
TICKETS CALLED GREEN LIGHT RED
TAPE ABOUT FINANCIAL AID AND
WHAT HE DID WAS HE TALKED ABOUT
BARRIER. BETTER BUSINESS FROM
GETTING THE FINANCIAL AID
THAT'S ON THE TABLE. WHAT ARE
FINANCIALLY TASK FORCE IT IN
THIS WAS ACTUALLY INITIATED BY
FRENCH LATEX. OFFICERS ACROSS
THE STATE. WAS IDENTIFIED OVER
A HUNDRED BEST PRACTICES THAT
COULD BE IMPLEMENTED IN THE
OPERATION WITHOUT ANY
LEGISLATIVE CHANGES. THAT WITH
JAZZ NOT DOWN THESE BARRIERS.
SO ONE OF THE FINANCIAL AID
OFFICERS CAME UP WITH THE
TAGLINE I DON'T KNOW IF ITS
ORIGINAL BUT I LIKED IT IT WAS.
DOUBT COULD GIVE IT. BUT YOU
KNOW ONE OF THE THINGS WE
RECOGNIZE THE FINANCIAL AID
OFFICERS HAVE SO MUCH THEY FEEL
BURDEN OF LIABILITY AND
PROTECTING THE COLLEGES
LIABILITY FROM NOT. DOTTING ALL
THE I'S AND CROSSING OF THE
TEASE AND SO YOU CAN ASK THEN
LOTS OF QUESTIONS BUT WHEN
ESPECIALLY WHEN WE TALK ABOUT
STUDENTS WHO HAVE OUR FIRST AND
STUDENTS TO COLLEGE NOT HAD-
THIS DISTANCE AND SUPPORT THEY
NEED IF NOT ALL THIS PAPERWORK
WE ARE UNDOCUMENTED STUDENTS IN
OUR SYSTEM. I FELT PRESS PHOTO
SELECT RIGHT. THE MONEY GETS
LEFT TABLE THAT REALLY SHOULD
BE IN THE HANDS FOR STUDENTS
I'M REALLY PROUD THAT WE PUT
OUT A FRAMEWORK DOCUMENT.
REALLY REALLY SPEARHEADED BY
FINANCIAL AID THERE REALLY
CHANGES THE CULTURE. OF THE- OF
HOW WE OPERATE ON OUR CARS
COLLEGES AND IT REALLY SHOULD
BE STUDENT CENTERED BUT SHOULD
OPERATE LIKE A CUSTOMER SERVICE
CENTER. WE SHOULD BE LOOKING
HOW WE PUT. THIS YEAR SERVICE
WHEN YOU LOOK AT PRIVATE
COLLEGES THAT'S WHAT THEY DO
ONE OF THE FOUR LAKES OF GOING
AFTER STUDENTS IS YOU KNOW HOW
TO GET THEM TO BE ABLE TO
AFFORD EDUCATION. IN
CALIBRATING BECAUSE WE TAKE IT
FOR GRANTED THAT CAN THAT. CAN
IS LOW. WE DON'T WE DON'T MAKE
THAT ONE OF OUR OUR- OUR MAJOR
POINTS AND SO I THINK THAT WE
DO NEED TO CHANGE OUR FOCUS ON
THAT- I GET THE SIX LEGISLATORS
DONE A GREAT JOB IN HELPING US
TO GET. TO SEE. YOU BOB. TO BE
ABLE TO HELP OUR STUDENTS BUT
WE ALSO NEED TO. NOT DOWN THE
BARRIERS SO I THINK. AREAS THAT
THAT WE NEED TO LOOK AT ONE IS
THE LEGISLATIVE CHANGES I THINK
THERE NEEDS TO BE- ONE OF
THINGS WE LOOK AT IN
AFFORDABILITY OF FIRST POLICIES
IS THERE THERE'S A GREAT
DISPARITY. IN THE- FOR THE FOR
YOUR STUDENTS VERSUS THE TO
YOUR STUDENTS SO WHILE WE HAVE
LOW TUITION. THE COST OF- JUST
BEING ABLE TO LIVE TO GET TO
SCHOOL IS SO HIGH FOR THE
COMMUNITY COLLEGE STUDENTS
WHEREAS EVEN AT. THE COST OF
EDUCATION IS HIGHER FOR THE FOR
YOUR STUDENTS THEY HAVE ACCESS
TO OTHER FORMS OF FINANCIAL AID
THAT OUR COMMUNITY COLLEGE
STUDENTS ARE PROFANITY HAVING.
SO WHAT ARE THINGS WE TALK
ABOUT ALSO ACROSS. AT THE
SYSTEM WIDE LEVELS HOW DO WE
CREATE SORT OF WHAT IS THE BASS
LINE THAT IS NEEDED FOR ALL
STUDENTS JUST TO GET THROUGH
SCHOOL AND THEN HOW DO WE
EQUALIZED- THE ACCESS TO
RESOURCES FOR ALL OF OUR
STUDENTS IT DOESN'T MAKE SENSE
TO ME THAT- FOR YOUR STUDENT.
WE RECOGNIZE IT'S IMPORTANT FOR
THE STUDENTS WHO FOR YEARS TO-
BE ABLE TO GET FINANCIAL
ASSISTANCE FOR THEIR THING-
DON'T THINK THAT'S NECESSARY
FOR THE COMMUNITY COLLEGE
STUDENTS MAYBE IT'S BECAUSE WE
THINK THEY'RE ALL OF HOME BUT
IN REALITY. NO THEY'RE NOT AND
A LOT OF THEM. TO READ THE SEE.
A LOT OF RETURNING STUDENTS WE
HAVE STUDENTS WHO ARE WORKING
JOBS WHO ARE TRYING TO GET
THROUGH THEIR EDUCATION SO I
THINK WE NEED TO LOOK AT- HOW
THE DEMOGRAPHICS OF CHANGE FOR
COLLEGE STUDENTS. AND THEN
EQUALIZE FROM THAT ACTS. SOME
CHANGE IN OUR LEGISLATION IT
NEEDS TO BE SOME CHANGE IN OUR
CULTURE. I RECENTLY- SENATE
BILL TWO NINETY ONE AND GOT. US
THROUGH WORD EIGHT IT INCREASED
THE AMOUNT OF MONEY THAT WAS
BEING GIVEN TO STUDENTS WHICH-
I REALLY APPLAUD LEGISLATORS
ARE CALIFORNIA LEGISLATORS
AGAIN FOR THAT. BUT WE ALSO
NEED TO CHANGE THE PELL GRANTS
THERE'S SO MANY RESTRICTIONS ON
THAT IT'S SUCH A DAUNTING
PROCESS FOR STUDENTS TO GO
THROUGH. AND ESPECIALLY THOSE
WHO HAVE NEVER BEEN. BEFORE AND
AFTER FALLOUT MOUNDS OF
PAPERWORK- AND RECENTLY ONE OF
THINGS WE DID AND IN THE
COMMUNITY COLLEGE SYSTEM UNDER
THE JOINT CAUCUSES WHICH ARE AT
THE ASIAN AMERICANS AFRICAN
AMERICANS LATINOS IN THE
VETERANS. IS WE PUSH FOR THE
SEGREGATION OF THE DATA SO.
MANY TIMES AND WE FEEL THAT
ESPECIALLY IN THE ASIAN
AMERICAN COMMUNITIES BECAUSE-
OFTEN WE THINK ASIAN AMERICANS.
NO NO PROBLEM GREAT STUDENTS
MODEL MINORITY. BUT IT'S NOT.
SO MUCH IN THIS GROUP THERE'S
LOTS OF DIFFERENT SUBGROUPS IN
ASIAN AMERICAN JUSTICE WE SEE
AN AFRICAN AMERICANS NOW THE
DEMOGRAPHICS OF CHANGING. AND
THE LATINOS IT'S NOT ALL NOT
EVERYBODY COMES MEXICO THEY
COME FROM ALL OVER FROM
DIFFERENT AREAS AND SO NOW
WE'RE JUST AGGREGATING THE DATA
SO THAT WE CAN START TO DO IS
TO UNCOVER. SOME OF THOSE
GROUPS THAT HAVE PREVIOUSLY
BEEN HIDDEN MARK YOU SO THAT WE
CAN BETTER SERVE PROCESS- NEED
ACCESS. SO PAPA ONE OF THIS
PART OF THIS IS LEGISLATION THE
OTHER TASK FORCE I FOR SERVED
ON THREE YEARS AGO- THERE'S
BEEN CHANGING HAS BEEN THE-
WORK. THAT'S WHERE HE- YES WHEN
I RAN FOR THE COLLEGE BOARD I
ALWAYS BELIEVE THAT. NOT COMING
TO COLLEGE JUST TO GET AN
EDUCATION TO HAVE A PIECE OF
PAPER IN YOUR HAND YOU CAME TO
COLLEGE TO GET THAT PIECE OF
PAPER BECAUSE YOU BELIEVED IT
WAS A KEY FOR YOU TO GET A
BETTER JOB. AND THAT I THINK IS
THE ULTIMATE GOAL OF EVERYONE
SO THIS BIFURCATION WE SEE IN
OUR OWN EDUCATION SYSTEM OF HOW
WE BY FOR KATE A STUDENT WHO IS
GOING FOR WORK. CAN AGREE
YOU'RE GETTING A CERTIFICATE
VERSUS ONE WHO'S GETTING A FOUR
YEAR DEGREE AND BEING ABLE TO
TRAVEL ALL THE WAY ON THAT FOUR
YEAR I'M TRAJECTORY IS OP I
THINK THAT MEANS WE NEED TO THE
LINES ARE. TRULY IN REAL LIFE
BEING BLURRED AND WE NEED TO
ACCEPT THAT IT'S REALLY THE
SAME STUDENT THEY JUST HAVE.
TAPPED FOR TIMELINES BUT
THEY'RE ALL GOING TO GET TO US.
WE ALL WE WANT THEM TO ALL GET
TO A PLACE OF SUCCESS. WE NEED
TO RECOGNIZE THAT THE RESOURCES
THAT WE OFFER IN THE CURRICULUM
THAT WE HAVE. IN COLLEGE- NEEDS
TO LEAD TO THAT SUCCESS. SO
PART OF THAT IN ONE OF THE
THINGS I'VE BEEN A VERY STRONG
ADVOCATE OF IS- X. MUCH
STRONGER PARTNERSHIPS WITH HER
OWN INDUSTRY. I THINK WE HAVE
TO ACCEPT INDUSTRY AS- PARTNERS
IN DEVELOPING CURRICULUM. AND I
ALSO THINK THAT WE NEED TO
ACCEPT- WE NEED TO WORK MORE
CLOSELY WITH INDUSTRY TO
PROVIDE. INTERNSHIPS JOB
EXPERIENCE FOR OUR STUDENTS.
FOUR AND THEN FOR. WHAT YOU GET
FROM TO GET THAT CERTIFICATE OR
WOULD YOU GET THAT DEGREE HOW
DOES THAT LEAD YOU DIRECTLY
INTO A JOB AND A GOOD PAYING
JOB WHEN ONE THAT- HELPS YOU
THEN PUT INTO PRACTICE THOSE
THINGS YOU FOR THE CLASS SO
THAT THE TWO FOCUSES I THINK
ARE REALLY IMPORTANT. THANK YOU
AND- GOOD MORNING AND THANK YOU
CHAIR FOR- ASSEMBLING THIS
HEARING ON THIS TOPIC MY NAME
IS PATRICK PERRY AND I AM
CURRENTLY THE- CHIEF OF POLICY
RESEARCH AND DATED OF IT FOR
THE CALIFORNIA TO NAY
COMMISSION AND I CAN PROBABLY
SAY I. FOR MANY MANY YEARS THE
CALIFORNIA COMMUNITY COLLEGE
SYSTEM AND AT THE CSU SYSTEM SO
I'VE- BEEN AROUND THE BLOCK. WE
GIVE YOU A GENERAL OVERVIEW OF
SEIZE WE ADMINISTER THE STATE'S
FINANCIAL AID PROGRAM THE STATE
HANDS OUT A LITTLE BIT MORE
THAN TWO BILLION DOLLARS WORTH
OF INSULATE EVERY YEAR THROUGH
THE GRANT PROGRAM- AND WERE
WERE VERY LUCKY THAT WE ARE IN
A STATE THAT IS PROVIDING ALL
THIS FINANCIAL AID AS FAR AS A-
AN ACTUAL GUARANTEED PROGRAM
IT'S AN ENTITLEMENT PROGRAM
WHICH IS. SOMETHING YOU DON'T
SEE. FORTY NINE STATES. AND AS
SUCH CALIFORNIA DOES HAVE I'D
SAY THE MOST ROBUST AND
PROGRESSIVE FINANCIAL AID
SYSTEM IN THE COUNTRY. IN TERMS
OF SUPPORTING LOW AND MIDDLE
INCOME STUDENTS. AROUND TWO
HUNDRED TWENTY ONE THOUSAND
STUDENTS RECEIVED A CAL GRANT
LAST YEAR. DISCOVERED THEIR
FULL SYSTEM WIDE TUITION AND
FEES FOR STUDENTS ATTENDING
UIUC OR SEE ISSUE. AND OF
COURSE TUITION FOR STUDENTS
ATTENDING PRIVATE COLLEGES AND
UNIVERSITIES. AND THEN ABOUT
ANOTHER TWO HUNDRED AND FORTY
THOUSAND STUDENTS LOW INCOME
STUDENTS RECEIVED A CAL GRANT
ACCESS AWARD- OF APPROXIMATELY
SEVENTEEN HUNDRED DOLLARS TO
HELP OFFSET THE COST OF BOOKS
SUPPLY. AND ROOM AND BOARD HELP
HOLD THAT NUMBER. YOUR HEAD AND
IT ACTUALLY. FOR THE ACTUAL
REAL COSTS. IT'S ALSO IMPORTANT
TO RECOGNIZE THE CALIFORNIA-
SUPPORTS UNDOCUMENTED STUDENTS
THE CALIFORNIA DREAM ACT
APPLICATION ALLOWS ELIGIBLE
UNDOCUMENTED STUDENTS TO ACCESS
STATE FINANCIAL AID WHICH IS
GREAT ESPECIALLY BECAUSE THEY
ARE UNABLE TO ACCESS FEDERAL
FINANCIAL AID OR FEDERAL WORK
STUDY PROGRAMS. NOW ONE THING
ABOUT CAL GRANT IS THAT ITS
FOCUS VERY SQUARELY ON TUITION
ASSISTANCE- AND THIS IS
ACTUALLY SOMETHING THAT PLAYS A
KEY ROLE IN ACCUMULATION OF
STUDENT DEBT INSOFAR AS
CALIFORNIA'S COSTS ARE ARE
REALLY RISING RAPIDLY IN THE
AREA OUTSIDE OF TUITION IT'S
JUST SIMPLY NOT. ENOUGH TO THE
HIGH COST OF LIVING STATE LIKE
CALIFORNIA TO JUST SIMPLY COVER
TUITION AND- LEAVE THE REST TO
THE STUDENT- THE STATE DOES
NEED TO BE MORE COGNIZANT AND
BETTER DRESSED WE CALL THE
TOTAL COST OF ATTENDANCE.
BEYOND JUST TUITION AND FEES
ESPECIALLY CENTER IN CALIFORNIA
HAS A VERY VERY HIGH HOUSING
COSTS- FOOD TRANSPORTATION
BOOKS AND SUPPLIES CHILD CARE
THESE ARE ALL COLLECTIVELY
OUTPACING TUITION AND FEES
CALIFORNIA. IN THE TWENTY
EIGHTEEN AND NINETEEN WITH THE
STUDENT A COMMISSION SET UP TO
BETTER UNDERSTAND THE COST THE
ACTUAL COST AND THE RESOURCES
THAT STUDENTS HAVE AVAILABLE TO
THEM. BY RELAUNCHING WHAT WE
CALL THE STUDENT EXPENSES AND
RESOURCES SURVEY OR SEARS- IN
PARTNERSHIP WITH THE COLLEGE
FUTURES FOUNDATION AND
MATHEMATICA. THE SURVEY SAMPLE
THE HUNDRED AND FIFTY THOUSAND
CALIFORNIA COLLEGE STUDENTS
FROM ALL SEGMENTS OF HIGHER
EDUCATION ABOUT THEIR
EXPERIENCES AND PERCEPTIONS OF
COLLEGE AFFORDABILITY. AND THE
RESULTS REVEALED MORE
MEANINGFUL DIFFERENCES IN THE
EXPENSES FOR COLLEGE COSTS WHEN
BROKEN DOWN BY RACE AND
ETHNICITY BROKEN DOWN BY AGE
AND ALSO BROKEN DOWN BY
GEOGRAPHICAL REGION. AS WELL AS
VALUABLE INSIGHTS ABOUT
STUDENTS CAPTIONS ABOUT THEIR
ABILITY TO PAY FOR. HIGHER COST
OF THEIR EDUCATION OUR INITIAL
ANALYSIS OF THE DATA FOUND
ROUGHLY TWO THIRDS OF THE
STUDENTS SURVEYED SAID THAT
THEIR NUMBER ONE OBSTACLE IS.
THEIR SUCCESS THIS EITHER THE
COST OF CALL FOR BALANCING
THEIR SCHOOL AND WORK
RESPONSIBILITIES SO ALSO
PLAYING IN THE COST OF COLLEGE
AS WELL. FOR THE FOR THE
STATEWIDE AVERAGE OF NON
TUITION COSTS REPORTED BY
STUDENTS IS ROUGHLY A LITTLE
BIT NORTH OF TWO THOUSAND
DOLLARS PER MONTH FOR ABOUT
TWENTY FIVE THOUSAND DOLLARS A
YEAR SO THINK ABOUT THAT NUMBER
FOR A MOMENT. THANK OKAY THIS
IS NOT A LIVING HIGH ON THE HOG
TYPE OF NUMBER THINK ABOUT WHAT
IT WOULD BE LIKE TO LIVE ON TWO
THOUSAND DOLLARS A MONTH IN
CALIFORNIA. THE OTHER COSTS IN
THE FACE OF HOUSING AND THINGS
LIKE THAT AS A RESULT IT WAS NO
SURPRISE TO US THAT NEARLY ONE
IN THREE STUDENTS. CROSSED ALL
THE SECTORS. XP A REPORTED
EXPERIENCE WHAT WE CALL FOOD OR
HOUSING IN SECURITY AND ANY
GIVEN MONTH WE HAVE A BANK OF
QUESTIONS ON THE SURVEY THAT
ASK QUESTIONS LIKE YOU KNOW IN
THIS MONTH ARE YOU WERE YOU
UNABLE TO PAY A UTILITY BILL
WERE YOU UNABLE TO PAY THE FULL
AMOUNT OF YOUR RENT. DID YOU
MOVE MORE THAN TWO TIMES DID
YOU SKIP MEALS THIS MONTH
BECAUSE YOU DIDN'T HAVE A
SOURCE OF MONEY OR YOU JUST RAN
OUT OF MONEY- AND ALL THESE
PLAY INTO WHAT WE CALL FOOD AND
HOUSING AND SECURITY. IS A ONE
IN THREE IN CALIFORNIA REPORTED
THAT IN A GIVEN MONTH. THE DATA
COLLECTED THROUGH THE SEARS
SURVEY IS THE MOST
COMPREHENSIVE DATA AVAILABLE ON
ACTUAL STUDENT EXPENSES. AND
INCOME SOURCES TO PAY FOR
COLLEGE. AND THE DATA COME
DIRECTLY FROM THE STUDENTS
THEMSELVES AND IT CONFIRMS A
LOT OF OUR ANECDOTAL EVIDENCE
THAT THERE'S A GROWING
PROPORTION OF STUDENTS WHO JUST
HAVE A DIFFICULTY IN MEETING
THE BASIC COST OF ATTENDING
COLLEGE. I'M AND ALSO PROVIDES
DATA SUPPORT THE CONSIDERATION
OF REGIONAL DIFFERENCES- IT
DOCUMENTS THAT SIGNIFICANTLY
HIGHER PROPORTIONS OF HISPANIC
AND BLACK STUDENTS REPORT
DIFFICULTY IN MEETING THE COSTS
OF COLLEGE. EXPERIENCE GREATER
RATES OF BASIC FOOD AND HOUSING
AND SECURITY. THREATS DATA
POINTS RELATED TO STUDENT
DEBTS- THERE WERE SOME
QUESTIONS ON THIS YEAR'S SURVEY
REGARDING STUDENT DEBT BUT THEY
PRIMARILY WERE RELATED TO THE
USE OF CREDIT CARDS AND STUDENT
THAT. WE DON'T HAVE A WHOLE LOT
OF DATA POINTS RELATED TO
STUDENT DEBT- THIS FOR AS LONG
TERM LOANS AND THINGS LIKE THAT
WE DO COLLECT SOME INFORMATION
FROM INSTITUTES ON COVERT
DEFAULT RATES WHICH IS THE
INDICATOR OF A STUDENT'S
ABILITY TO REPAY THEIR STUDENT
LOANS. AFTER GRADUATING FROM A
PARTICULAR INSTITUTION- WE DO
HAVE THE ABILITY TO GET WAGE
DATA TO SHOW HOW MUCH STUDENTS
ARE MAKING BOTH DURING COLLEGE
AND AFTER COLLEGE AND WHAT ARE
THEIR ABILITY TO PAY THESE
LOANS. HOWEVER THIS DOESN'T
TELL US A WHOLE LOT ABOUT THE
STUDENT THAT STUDENTS ARE
TAKING ON. PRESUMABLY TO PAY
FOR A LOT OF OUT OF POCKET
COSTS THAT ARE NOT COVERED BY
OTHER TYPES OF AID. AS THE
STATE'S FINANCIAL AID AGENCY
WE'D LIKE TO BETTER UNDERSTAND
HOW OUR STUDENTS ARE IMPACTED
BY STUDENT DEBT- WE CERTAINLY
WOULD LIKE TO KNOW MORE ABOUT
YOU KNOW. WHERE SHOULD WE BEST
PLACE STATE BASED ON ACTUAL
RATE IN THE ENTIRE PACKAGE OF
FINANCIAL AID AVAILABLE TO
EVERYBODY THE CALIBER IN THE
MIDDLE CLASS SCHOLARSHIP OR ALL
ABOUT MAKING COLLEGE AFFORDABLE
AND DESIGNED TO OFFSET THE NEED
TO TAKE OUT STUDENT LOANS IN
THE FIRST PLACE. WHILE WE DO
COLLECT A LOT. PFAFF SOME OF
FAMILY SIZE INCOME THINGS LIKE
THAT WE ARE MISSING KEY DATA
POINTS THAT WOULD HELP US
UNDERSTAND WHETHER ARE
FINANCIALLY PROGRAMS ARE
WORKING IN THE WAYS IN WHICH WE
WANTED TO BASICALLY BECAUSE WE
CAPTURE A LOT OF DATA AT THE
START OF A STUDENT'S
EDUCATIONAL PROCESS AND NOT
NECESSARILY AT THE END. WE HAVE
MORE INFORMATION ABOUT STUDENT
LEVEL FINANCIAL AID PACKAGING
SUCH AS YOU KNOW A SINGLE
SOURCE OF DATA WHERE WE CAN
LOOK AT YOU KNOW DID THEY GET
FEDERAL AID STATE AID LOCAL AID
GRANTS AND THEN WHAT WAS LEFT
OVER FROM LOAN. I MEAN THAT WAS
DATA POINTS ALL EXIST BUT WE
DON'T CURRENTLY HAVE THEM IN
ONE SCENE LOCATION WHERE WE CAN
GET TO THAT AND REALLY EXAMINE
AT THAT WOULD BE SOMETHING THAT
WOULD BE. REALLY LIKE TO GET.
AND FURTHERMORE ASSIST. THE WE
HAVE THIS THE FIDUCIARY
RESPONSIBILITY TO THE
LEGISLATURE AND THE GOVERNOR.
EXAMINE THE EFFECTIVENESS OF
THE TWO BILLION DOLLARS THAT WE
PUT OUT AND FINANCIAL AID EVERY
YEAR. WE ARE CURRENTLY IN THE
PROCESS OF EXAMINING CAL GRANT
REFORM EFFORTS- STATE HAS
AVENUES TO INCREASE SUPPORT FOR
STUDENTS STRUGGLING WITH THESE
OUT OF POCKET COSTS. OF FORCING
THEM TO LOOK ELSEWHERE FOR
SUPPORT INCLUDING STUDENT LOANS
AND I WAS I WOULD ALSO SAY AND
CREDIT CARDS. SO IF YOU'RE
LIVING OFF A TWO THOUSAND
DOLLARS A MONTH. IMMEDIATE
PROBLEM IS I HAVE TO PAY A BILL
OR I NEED TO GO TO THE GROCERY
STORE YOU'RE PROBABLY NOT GOING
TO GO DOWN AND FILL OUT. THE
FEDERAL FINANCIAL AID LOAN
PACKAGE TO TRY AND SOLVE YOUR
IMMEDIATE PROBLEM OF THE DAY.
MORE OFTEN THAN NOT THAT GOES
ON A CREDIT CARD WHICH IS YOU
CAN PROBABLY IMAGINE IS THE
WORST POSSIBLE PIECE OF STUDENT
DEBT YOU COULD PROBABLY
CUMULATE. THE MAJOR STATEWIDE
GRANT PROGRAM THAT PROVIDES
SUPPORT FOR NON TUITION
EXPENSES WHICH IS THE CAL GRANT
BE ACCESS AWARD CURRENTLY THAT
ACCESS AWARD PROVIDES ELIGIBLE
STUDENTS WITH ABOUT SEVENTEEN
HUNDRED DOLLARS PER ACADEMIC
YEAR. THAT'S A YEAR REMEMBER
THERE SPENDING TWO THOUSAND
DOLLARS A MONTH ON NON TUITION
COSTS SO IT REALLY DOESN'T
DOESN'T COVER A WHOLE LOT WITH
THAT AMOUNT- THAT ACCESS AWARD
WAS WAS IMPLEMENTED IN THE LATE
NINETEEN SIXTIES ORIGINALLY IT
WAS NINE HUNDRED DOLLARS HAD
THAT KEPT PACE WITH AND FOR.
THE ACCESS OR WOULD BE ABOUT
SIXTY DOLLARS TODAY. AND SO
IT'S WORTH ROUGHLY TWENTY FIVE
CENTS ON THE DOLLAR OF WHAT IT
ORIGINALLY WAS DESIGNED TO
COVER. THE COMMISSION CERTAINLY
ENCOURAGES THE LEGISLATURE TO
APPROPRIATE FUNDING TO PHASE IN
INCREASES TO CAL GRANT BE
ACCESS AWARDS TO COVER AN
OFFSET SOME OF THESE AREAS THAT
STUDENTS ACCUMULATE DEBT ON.
AND WHILE WE CERTAINLY
UNDERSTAND THAT WOULD INCREASE
AND CARRY A SUBSTANTIAL FISCAL
IMPACT TO THE STATE IT
CERTAINLY WOULD PAY SIGNIFICANT
DIVIDENDS BY REDUCE STUDENT
FOOD AND HOUSING AND SECURITY
AND ULTIMATELY REDUCING
STUDENTS RELIANCE ON LOAN THAT
SEE SACK IS COMMITTED TO
WORKING WITH THE STATE AND ALL
OF ITS LEADERS ON. TO HELP FIND
OUT WHAT IS AND WHAT IS NOT
WORKING FOR STUDENTS AND CREATE
A VERY EQUITABLE FINANCIAL AID
SYSTEM THAT SERVES THE NEEDS OF
THE STATE AND ITS STUDENTS.
THANK YOU. THANK YOU I DO HAVE
A FEW FOLLOW UP QUESTIONS BUT I
THINK WHAT WE'LL DO IS- WE TO
HEAR FROM MR CASEIN AND THEN WE
CAN. LOOK BACK. THANKS GOOD
MORNING EVERYONE THANK YOU SO
MUCH FOR THIS OPPORTUNITY. I'M
AN ART MAJOR SO NEVER THOUGHT
I'D BE HERE. SO. HOME AS
MENTIONED I DO SERVICE THAT
INTEREST THE HERE AT. THE
COLLEGE- ELECTED WITH HIM BODY
AND MY MAIN JOB IS JUST BEING
THE LIAISON BETWEEN ACT AMAZING
PURCHASE THE NUMBERS. AND THE
STUDENTS- SO RIGHT NOW WHAT'S
ON A LOT OF STUDENTS STUDENTS
MIND IS WE JUST TURN INTO YOU
SEE AND CAL STATE UPS. IT WAS A
FUN NIGHT. AND I KIND OF JUST
TO START OFF YOU KNOW THE COST
OF THESE APPLICATIONS SO IT IS
SEVENTY DOLLARS PER APPLICATION
AND- AS I MENTIONED AS A DESIGN
MAJOR. AT A LOT OF THE SCHOOLS
THERE IS A SUPPLEMENTAL
FEATURES TURN IN MY PORTFOLIO
TO THE SCHOOL SO FOR UCLA IT'S
AN ADDITIONAL FIFTY FIVE
DOLLARS A TO PAY ON TOP OF THE
SEVENTY DOLLARS. AND JUST
BECAUSE YOU KNOW NOT ALL THE
UC'S OUR HOUSES OFFER NO INTENT
OF DESIGN PROGRAMS I HAVE A LOT
OF DESIGN STUDENTS FACE
THEMSELVES. APPLYING TO THE UC
BECAUSE THE SYSTEM AND PRIVATE
HIGH SCHOOL SYSTEMS. SO THE ST
STE THE ARTICLE IS NEAREST TO
US AND AS YOU KNOW WE HAVE A
GREAT RELATIONSHIP WITH IS ARTS
CENTER. AND YOU KNOW THIS IS A
SCHOOL THAT IS GEOGRAPHICALLY
VERY VERY CLOSE TO US BUT
FINANCIALLY IT COULD NOT BE
FARTHER APART. IT IS ABOUT
TWENTY TWO THOUSAND DOLLARS PER
TRIMESTER TO IT ARTS CENTER AT
THE MOMENT WHICH IS. AT THE
VERY QUICKLY IN THE END USER IN
THIS IS A COST NO DOES NOT.
SUPPLY IS NOT INCLUDED. AND
SOMETHING WE ALSO REALIZE THAT
WHEN WE DO TRANSFERRED TO THESE
PRIVATE SCHOOLS IT IS NOT YOU
KNOW. WE ARE NOT CHANGING THEIR
THE JUNIOR WE SOUGHT TO
COMPLETE FOUR YEARS AT THESE
PRIVATE SCHOOLS A LOT OF
COMMITTEE BECAUSE HE DIDN'T.
COME HERE YOU KNOW KIND OF LIKE
THE 50% OFF MENTALITY OF LIKE
TWO YEARS HERE. HERE'S ANOTHER
UNIVERSITY BUT A LOT OF THE
SCHOOLS IS GONNA BE AND AT
LEAST A THREE YEAR SYSTEM WHICH
IS NOT BAD YOU KNOW YOU DO YOU
WANT TO BE. PREPARED AND WHAT
HAPPENS IS WHENEVER YOU TAKE
THESE COURSES THAT- COMING
COLLEGE THAT BASICALLY LEAVES
HOLES. IN YOUR SYSTEM ANY AND
ALL THE GENERAL IT IS AND YOU
CAN FILL IT. WITH OTHER CLASSES
SO PERSONALLY- OUT OF HIGH
SCHOOL I APPLIED TO GO TO
SCHOOL DESIGN WHICH IS AND
MARINA DEL REY. AND THERE I A-
I WAS ACCEPTED. BUT IT WAS
ABOUT FORTY THOUSAND DOLLARS
THE TUITION. I DID RECEIVE
TWENTY THOUSAND AMERICANS LIKE
OH COOL BUT THEN I FOUND OUT
ROOM AND BOARD WAS ANOTHER
TWENTY THOUSAND SO. THE AND YOU
KNOW THIS CULTURE OF MAKING
SURE YOU ATTEND THE UC AND CAL
STATE NOTE STATE GHOST THEIR
HIGH SCHOOL SO I AM FROM THE
LOCKERS IN A BLOCKING OUT AREA
AND OF MY HIGH SCHOOL I'VE A
LOT OF FRIENDS WHO JUST WENT TO
A CAL STATE OR YOU SEE JUST FOR
THE SAKE OF GOING TO THAT
SCHOOL NOT FOR THE SAKE OF YOU
KNOW. WHAT WHAT THEIR MAJOR WAS
IF HE HAD A FEEL FOR THE CAMPUS
ITEM AND WHO CAME FROM UC
RIVERSIDE TO PCC SHE TOOK WHILE
SHE'S AT RIVERSIDE FOR A FOR
FIRST SEMESTER SHE TOOK A BUNCH
OF ELECTIVE COURSES SENATOR
THEM TRANSFERRED BACK HERE SO
THOUSANDS OF DOLLARS THAT WAS
SPENT ON COURSES- AND IT'S JUST
A LOT OF SINCE THE PLANS FOR
THE SAKE OF. I GO TO UC SO
PERSONALLY. AS I MENTIONED I
LIVE IN THE LOCKER CENTER AREA.
AND THERE'S A LOT OF INCREASING
COSTS THERE RIGHT NOW AND AT
THE MOMENT I FOUND OUT ABOUT
TWO WEEKS AGO I HAD TO MOVE.
FROM THE HOUSE THEY LIVED IN
FOR ABOUT FORTY FOR FOURTEEN
YEARS OF MY LIFE IT'S LIKE. AND
TWENTY SOMEONE THEIR LIFE-
DIGESTED ANY CREASING COSTS AND
RENT OF THE AREAS OUR LANDLORD
GAVE US UNTIL. MARCH TWENTY
TWENTY TO MOVE OUT OF OUR TOWN
HOUSE AND MONTROSE. AND THAT'S
SOMETHING THAT IS REALLY JUST
WEARING NOT ONLY AS A STUDENT
BUT AS A- CHILD NOW. CAN I
PERRANCE AFFORD TO BUY A NEW
HOME. AND SEND A CHILD TO
UNIVERSITY IN A SIX MONTH
PERIOD YOU KNOW. MARCH WE HAVE
TO BE OUT OF THERE. SEPTEMBER
AUGUST I'LL BE GOING TO A
SCHOOL. AND IT'S JUST A VERY
VERY. HEAVY RELIANCE ON
SCHOLARSHIPS SO. THROUGHOUT
THIS WEEK LEADING UP- TO THIS
HEARING I JUST TALKED TO A LOT
OF MY- FELLOW STUDENTS JUST
LIKE. PART OF MY JOB AS TRUSTEE
NOW I KNOW I'M NOT. THE SOLE
VOICE OF THIRTY THOUSAND
PEOPLE. AND A LOT OF THEIR
CONCERNS THERE IS A I HAVE A
STUDENT AND MY ART HISTORY
CLASS HE'S A PUBLIC HEALTH
MAJOR. IF YOU'RE TALKING ABOUT
HOW SHE DOESN'T WANT TO SPEND
THE REST OF HER LIFE PAYING OFF
STUDENT AT. THIS IS. A VERY
VERY REAL CONCERN. FOR A LOT OF
ME BECAUSE STUDENTS AS- WE
LIVING IN LOS ANGELES UNIT
HOUSING IS GOING TO BE. VERY
EXPENSIVE. IF YOU WANT TO STAY
HERE. AS A- STUDENT- IN. MY
CLASS WITH UNDER SOMETHING AND
SHE SAID I HAVE A SNEAKING
SUSPICION THAT I'M ONLY
PINPOINT PAYING FOR THE NAME
BRAND. OF THE SCHOOL TO STRAIN
TO GO TO. AND THERE'S A HEAVY
RELIANCE ON SCHOLARSHIPS THAT
ARE NOT GUARANTEED. SO YOU KNOW
THERE IS ITEM ANOTHER FRIEND I
WAS TALKING TO ABOUT THIS. AND
YOU'RE SAYING YOU KNOW I'M
RELYING ON SCHOLARSHIPS BUT
DEEP DOWN I DON'T I'M GOING TO
GET IT YOU KNOW SOMETIMES. WAY
OR YOU ARE FINANCIALLY WHERE
INCOME IS MINE YOU MAY NOT
QUALIFY FOR THAT. THE
SITUATIONS LIKE I MENTIONED I'M
GONNA BE MOVING SOON. I LIVE IN
A MIDDLE CLASS AREA BUT THAT'S
GONNA BE A HUGE BURDEN ON MY
PARENTS. SO KIND OF JUST
GETTING A IT'S A VERY VERY REAL
CONCERN TO THEM THAT FOR COMEY
COLLEGE STUDENTS EVEN THOUGH
RIGHT NOW. NOT THE MAJORITY OF
US ARE FACING THIS BUT IT'S
DEFINITELY SOMETHING THAT'S-
LOOMING- IN THE BACK OF OUR
HEADS AS WE PLAYED THE SCHOOLS.
WE HAVE TO CONSIDER THE COST
WOULD BE PAYING DOWN THE LINE.
THANK YOU THANK YOU AND THANK
YOU FOR THE WORK THAT YOU DO ON
BEHALF OF YOUR STUDENT BODY
FROM. TWO COUPLE OF QUESTIONS
YOU ADD IT TO SEE WHY YOU
MENTIONED THE FACT THAT WE'RE
LEAVING A LOT OF MONEY ON THE
TABLE. THERE IS FOR YOU KNOW
FOR ANYONE ON THAT HOW DO WE
HAVE A SENSE OF HOW MUCH WE'RE
LEAVING ON THE TABLE EITHER TO
FEDERAL OR STATE LEVEL. AND ARE
THERE SPECIFIC POPULOUS YOUR
LEGISLATIVE PROPOSALS THAT WE
COULD INTRODUCE TO HELP CLOSE
THAT GAP AND LEAVE LEAVE US
THAT MONEY ON THE TABLE. FOR
YEAH- SO- I MENTIONED THE TPS
REPORT. GREEN READ A I THINK
THEIR CALCULATION IT'S LIKE A
HUNDRED AND TWENTY MILLION PER
SEMESTER WHICH IS JUST AMAZING
I DON'T KNOW IF THAT NUMBER
STILL ACCURATE IT'S BEEN ABOUT
FIVE OR SIX YEARS I THINK SINCE
I HAVE THAT REPORT THE AMERICAN
CHANGES SO AS THE FINANCIAL A
TASK FOR STARTERS LOOK AT THIS
YOU KNOW WHAT IT'S- WHEN THINGS
WE TALKED ABOUT AT THE STATE
LEVEL PLACE. IT'S IT DOESN'T.
MAKE A GOOD STORY FOR US TO GO
TO LEGISLATURE ASK FOR MORE
MONEY FOR LEAVING MONEY ON THE
TABLE THAT. PUTS THEM IN A
POSITION OF WONDERING WHY. THE
MONEY THAT THEY'VE ALLOCATED IS
NOT BEING USED SO AS WE DELVED
INTO THIS ISSUE. WE THE LOW
HANGING FRUIT WAS TO CHANGE THE
CULTURE OF THE OPERATION IN OUR
COLLEGES. AS I SAID- THERE SO
THE HEAVY BURDEN ON OUR
FINANCIAL AID OFFICERS TO- THAT
THEY FILL OUT BURDEN. THAT THEY
ARE ONE OF THREE ENTITIES ON
COLLEGES THAT CAN HELP
PERSONALLY. LIABLE FOR NOT
HAVING COMPLETED ALL OF THEIR-
THE NECESSARY VERIFICATION OF
AS STUDENTS QUALIFICATIONS
BEFORE THEY GIVE OUT THE AID
BUT I AM PROUD TO SAY THAT THEY
CAME UP WITH THAT THESE OVER
HUNDRED RECOMMENDATIONS OF WHAT
COULD BE CHANGE SOMEONE IS FIND
A WAY TO GET THE MONEY TO
STUDENTS EARLY- IF STUDENTS IN
A LOOK AT THE NUMBER CATIONS A
GOT TURNED AND HOW MANY DID GET
ACTUALLY COMPLETED BUT START
THAT GOT STARTED THANK YOU SORT
OF A FLY. THAT FLIGHT YOUR
OPERATION THAT THE STUDENT
NEEDED HELP THE- MAYBE THEY
CAME FROM AND UNDOCUMENTED
FAMILY OR MORE. FOUND IT
DIFFICULT TO GET THE
INFORMATION TURNED IN OR THEIR
PARENTS FELT RELUCTANT TO TURN
THEIR THE INFORMATION AND IF
THEY WERE- MINORS. SO THEY
THEMSELVES ARE HAVE KNOCKED
DOWN- ARE FOUND SOLUTIONS TO
KNOCK DOWN THE STAIRS SO THIS
WAS JUST IDENTIFIED I THINK
IT'S GOING TO TAKE US- I. MAYBE
A YEAR FOR US TO IT LOOK AT.
HOW THAT CULTURE CHANGE- IS
REALLY WILL CHANGE HOW WE ARE
MONIES STUDENTS BUT CHEST. AT
JUSTIN THE LAST CONFERENCE WE
HAVE LAST MONTH A FEW OF THE
COLLEGES WHO BEGAN TO IMPLEMENT
THOSE CHANGES HAVE REPORTED
LIKE A CHANGE OF- ALMOST 85% OF
THOSE STUDENTS WHO APPLIED GOT
THEIR AID GOT IT ON TIME KIND
OF BEFORE THE SEMESTER STARTED.
WHEN COLLEGE REPORTED THAT THEY
ONLY HAD TO ISSUE I'M-
SOMETHING LIKE I DON'T KNOW.
LESS THAN A HUNDRED LESS THAN
TWO HUNDRED- BOOK VOUCHERS SO
WHERE DOES THAT MEAN WHAT THAT
MEANT IS THEY GOT THE MONEY TO
STUDENTS IN TIME FOR THEM TO
PAY FOR THE REGISTRATION AND
PAY FOR THEIR BOOKS. WERE IN
BEFORE THEY WERE WAITING FOR
ALL VERIFICATION TO- ALL OF THE
DOCUMENTS TO BE VERIFIED AND
MANY TIMES OF STUDENTS THEN HAD
TO FIND WAYS TO PAY FOR THE
REGISTRATION OR HAD TO GO OUT
AND GET A VOUCHER FOR A LOAN
FROM THE SCHOOL TO PAY FOR
THEIR BOOKS. AND HAD TO REPEAT
IT BACK ONCE THEY GOT THEIR
FINANCIAL AID- SO THESE ARE
SMALL THINGS IS A CULTURE
CHANGES THAT WE CAN WE CAN MAKE
SO IT WAS EMBARRASSING FOR US
TO LOOK AT THAT TO REALIZE IT
BUT IT ALSO WAS A GOOD. A FLAG
FOR US TO THEN SAY THERE'S SOME
THINGS WE COULD DO A LOT BETTER
AND STUDENTS HIMSELF CAME UP
WITH SOME REALLY GREAT IDEAS
LIKE PUT PEER TO PEER MENTORING
HAVE A LITTLE A STUDY CENTER SO
THAT STUDENTS COMMAND AND THEY
HAVE THEY NEED ASSISTANCE OF
FINANCIAL AID. INSTEAD OF
HAVING TO GO TO AN ADULT WHICH
THEY MAY BE RELUCTANT TO DO
THEY HAVE HERE THAT WILL COME
IN AND HELP THEM GET THROUGH
THE FOR WORK I ONE THING. THAT
INTERESTS ME SIR TO SEE AN. ARE
A S. AND TOM WE TALKED ABOUT A
COUPLE OF. AT LAST MONTH AT THE
RIVERSIDE CONFERENCE AS ADAM
PUT IN AND JUST SORT OF A
STUDENT FEEDBACK. LOU JUST TO
FIND OUT WHAT ARE THE THINGS
YOU KNOW HOW HOW WAS THE
SERVICE AT THAT DESK WHAT IF
THINGS GOT YOUR WAY TO GET
GREAT SERVICE. AND IT'S TO
DOING ANY EMPLOYEES BECAUSE I
THINK EVERYBODY IS DOING THE
BEST THEY CAN- BUT THERE COUPLE
YOU KNOW I THINK THAT- IT GIVES
YOU GOOD FEEDBACK ON WHETHER OR
NOT THAT STUDENT FEELS LIKE
THEY'RE BEING SERVED. AND THEN
ALSO IT'S A TAKE FOR US IS AS
TRUSTEES THAT IF THERE'S AN
OPERATION THAT IS HAVING A HARD
TIME SERVING STUDENTS AND WE
NEED TO BE. MINDFUL WHEN WE
ALLOCATE BUDGETS AND WE
APPROVED TO MAKE SURE THE
RESOURCES ARE THERE STUDENTS
SERVICES IT'S BEEN A REALLY I'M-
OUR- FIRST AREA MANY COLLEGES.
BECAUSE MOST VEGAS ACADEMICS
BUT YOU KNOW WITH ALL OF THE
INITIATIVES THAT WERE PUTTING
FORWARD ON. FOR COLLEGE AND FOR
CAREER CENTER IT REALLY
REQUIRES- THAT CONSIDER SERVICE
IN BUT IT REQUIRES TO RESOURCES
FOR CONCIERGE SERVICE TO BE
ABLE TO WORK WITH STUDENTS. GOT
IT. SOME CAMPUSES HAS- MADE.
PFAFF THE COMPLETION DISCOVER
MANDATORY PART AS THE- IN A
REGULAR ENROLLMENT PROCESS IS
THAT SOMETHING THAT WE SHOULD
BE DOING UNIVERSALLY AND SYSTEM
WIDE. I DO IMPACT WOULD BE I DO
KNOW THAT TOM. A SO I DID I
HAVE TALKED TO THE CHANCELLOR
OF ONE OF THE COLLEGES AND WHEN
THEY GO TO THE HIGH SCHOOL THEY
JUST TELL THE HIGH SCHOOL
STUDENTS WE DON'T KNOW IF YOU
WANT TO GO TO COMMUNITY COLLEGE
WE DON'T KNOW IF HE
FINANCIALLY. FILL ALL THE
PAPERWORK ADDING WAY BECAUSE IN
A BE READY FOR YOU IF YOU TO.
TO IF YOU MAKE A DECISION ON
THE ASSET IS A REALLY LONG
PROCESS AND I JUST HEARD ONE
STUDENTS SAY THAT SHE- TOOK A
FIFTEEN MINUTES TO GET THROUGH
BECAUSE IT WAS AUTOMATED WAS SO
FAST. BUT I TALKED TO
CONGREGATE CHEF. JUST STARTING
COLLEGE AND HE SAID IT WAS A
DAUNTING PROCESS AS IT CAN'T
COME A WILL TO HELP HER FIGURE
ADDED TO THIS AND- I. WISH THAT.
WE SAW. A LOT PAUL FIGURE SO
YOU CAN IMAGINE THAT ONE OF
START CONGRESSMAN HAVE TIME
HELPING IS DAUGHTER HOW HOW
DAUNTING THIS MUST BE FOR
STUDENTS SO I DO THINK THAT THE
EARLIER WE CAN GET- STUDENTS TO
DO THIS I THINK- AND TAKE OFF
SIR THE STIGMA OF OKAY MAYBE IT
WASN'T YOUR FOR SURE JUST WHAT
HAD FELT THE PAPERWORK AND GET
YOURSELF READY. I THINK THOSE
MAYBE THINGS THAT COULD BE FOR.
AND THEN I. YOU TALKED A LITTLE
BIT ABOUT- ABOUT SOME DATA GAPS
IN TERMS OF THAT THE
INFORMATION THAT YOU HAVE
ACCESS TO- YOU KNOW WHAT- KIND
OF THEM. THEN THIS CRITICAL
GATE DATA GAPS HOW CAN WE CLOSE
THEM. AND WITH THAT INFORMATION
HOW CAN WE CREATE MORE
TRANSPARENCY. FOR STUDENTS AND
FOR POTENTIAL BORROWERS. OKAY
AS PART OF THAT SURE- SO.
CALLOUS THE HIGHER ED SEGMENTS
AND THE STUDENT AID SEGMENT WE
WE'VE LIVED IN DATA SILOS FOR
QUITE AWHILE NOW- AT AND I
THINK. WE NOW HAVE AN
ADMINISTRATION WHO IS VERY
EAGER TO- ADVANCE BECAUSE OF
DATA SHARING AND YOU KNOW A LOT
OF DATA WE DO HAVE IT'S JUST
THAT WE DON'T HAVE A- SHARE
THIS GOVERNOR HAS BEGUN THE
PROCESS OF DOING THE CREDIT.
WHICH WERE VERY MUCH GOING TO
BE LOOKING FORWARD TO GETTING
DONE AND WITHOUT SIMPLE THINGS
LIKE YOU KNOW IN THE STUDENT
AID OF. DATA SAID. IN A WAY
WHERE YOU GO FOR THE STUDENTS
WHO DID NOT TAKE A CAL GRANT OF
WHICH THERE'S A DECENT AMOUNT
OF STUDENTS WHO DO NOT TAKE A
CAL GRANT WILL GET BACK TO
LEAVING MONEY ON THE TABLE. WE
DON'T KNOW WHERE THEY WENT OR
WHAT WAS THE BLOCKADE BEHIND
THAT SO JUST SIMPLY MATCHING
WITH ENTITIES LIKE SHE ISSUE IN
YOU SEE- THE NATIONAL STUDENT
CLEARINGHOUSE TO FIND OUT OKAY
DID THEY LEAVE CALIFORNIA. ARE
THEY NOT IN COLLEGE ANYWHERE
CAN WE MATCHING THE EDT DATA
FILES THEY'RE WORKING HOW MUCH
THEY WORKING JUST SIMPLY SIMPLY
TRACKING TO GET A HAND ON. THE
DAY. OF. METRICS OF BOTH
ACCOUNTABILITY AND STUDENT
MOVEMENT BETWEEN THE SEGMENTS
WOULD HELP GREATLY. THE OTHER
THING I MENTIONED TO WAS WE
NEED TO HAVE A SINGLE PLACE
WHERE WE CAN LOOK AT THE ENTIRE
STUDENT LOAN FINANCING PACKAGE
RIGHT NOW WE ALL HAVE A SILO
LIKE HERE'S THE FEDERAL DATA
HERE'S THE STATE DATA. HERE'S
THE LOCAL FINANCIAL AID HERE
THE SCHOLARSHIPS THEY GOT
HERE'S THE WORK STUDY BUT WE
DON'T HAVE A SINGLE PLACE WE
CAN EXAMINE ALL OF THIS
SINGULARLY IN HOLISTICALLY TO
FIND OUT WHAT'S THE BEST WAY TO
MANAGE ALL OF THIS. THOSE TO ME
ARE THE TWO BIGGEST DATA GAPS I
MENTIONED A LITTLE BIT ABOUT
SUIT. WHO YOU KNOW THE WHAT WE
CALL THE PAID RATE FOR CAL
GRANT IS NOT AS HIGH AS WE
WOULD LIKE IT TO BE THERE'S A
CERTAIN PERCENTAGE OF STUDENTS
WHO WERE. WHO GET A CAL GRANT
LETTER SAYING HERE'S FREE MONEY
AND THEY DON'T TAKE IT- THAT
MONEY LEFT ON THE TABLE AND WE
ACTUALLY DON'T. REALLY KNOW WHY
THOSE STUDENTS ARE NOT TAKING
IT ARE THEY GOING OUT OF STATE
OR ARE THERE ADMINISTRATIVE
ISSUES THAT CAMPUSES THAT WE
COULD FIGURE OUT. IT EASIER FOR
THEM TO GET IT- WE'VE GOT TO
START WITHOUT. SOURCE LEAVING
FEDERAL MONEY ON ON THE TABLE-
GOOD COMMENTS ALREADY. YOU KNOW
WHAT. YOU DID SEE SOME STATES
RIGHT NOW WHO ARE ON. FULLY TO
MAKE. THAT HIGH SCHOOL
GRADUATION REQUIREMENTS. OKAY I
THINK TENNESSEE HAS DONE. I AM
THIS IS KIND OF AN EXTREME
THING- AND YOU DO HAVE SOME
CALIFORNIA HIGH SCHOOLS WILL
VOLUNTARILY DONE US. I KNOW SEE
SEXUALLY RUNS A COMPETITION
WHERE WE REWARD HIGH SCHOOLS
WHO HAVE VERY HIGH FAST OF
COMPLETION RATES. SO I WOULD
START WITH JUST SIMPLY MAKING
THAT A VERY. POPULAR OF HI
PUBLIC VIEW METRIC I'M NOT.
SAYING WHAT'S YOU KNOW PUT
ACCOUNTABILITY ON IT YET BUT
LET'S JUST MAKE THAT A VERY
VISIBLE PUBLIC PATRICK TO START
WITH SO WE KNOW WHERE EVERYONE
IS OUT. AND WE KNOW WHERE
EVERYONE SHOULD BE MOVED TO.
AND THEN ONE OTHER QUESTION
AROUND CAL GRANT YOU MENTIONED
THAT YOU'RE IN THE PROCESS AS-
EVALUATING YOU SPECIAL CAL
GRANT REFORMS. WHEN IS THAT.
REPORT OR- ANY OF SAID
RECOMMENDATIONS EXPECTED TO BE
JAIL THIS IS THIS IS A PRETTY
FAST TRACK SO- WE HAVE A WORK
GROUP THAT WE'RE WORKING WITH
RIGHT NOW AND OUR GOAL IS TO
GET. THIS INTO SOME TYPE OF
LEGISLATIVE PACKAGE HERE FOR
THE NEXT CYCLE SO WE'RE LOOKING
AT PROBABLY FEBRUARY OR SO A
GREAT HAS SOMETHING AVAILABLE
FOR BOTH THE GOVERNOR. AND THE
LEGISLATURE TO START LOOKING.
AND YOU EXPECT THAT THOSE
RECOMMENDATIONS LEAVE MORE THAN
THE OBVIOUS HAVE INCREASING
FRIENDLY YES CORRECT IT YEAH
GREAT- WE'RE WE'RE TRYING TO
SIMPLIFY. THE PROCESS IN
CERTAINLY EXPAND THE POOL
WHEREVER POSSIBLE GREAT LOCAL
THAT FOR TODAY TO THAT
CERTAINLY IN FEBRUARY. I'M
WITHOUT WITH THANK YOU AGAIN
ALL OF YOU FOR BEING HERE AND
FOR SHARING YOUR PERSPECTIVES-
AND FOR ALL THE WORK THAT
YOU'RE DOING. ON THIS REALLY
IMPORTANT ISSUE THANK YOU FOR
THAT THANK YOU. CREDIT WILL GO
AHEAD AND TRANSITION OUR NEXT
PANEL. I THE TITLE OUR NEXT
PANELIST IMPACTS ON CALIFORNIA
NEIGHBORHOODS. ARE FOCUSED ON
LOS ANGELES COUNTY WE'VE GOT.
AS A SEND A FELLA WHO IS THE
DEPUTY DIRECTOR WITH THE LA
COUNTY DEPARTMENT OF CONSUMER
AND BUSINESS AFFAIRS. OUT WE'D
ALSO LIKE TO WELCOME TO NASH'S
SMITH WHO IS THE CHIEF AT THE
LA COUNTY DEPARTMENT OF
CONSUMER AND BUSINESS AFFAIRS
AT THE CENTER FOR FINANCIAL
EMPOWERMENT. THANK YOU BOTH FOR
BEING HERE AND JOIN US THIS
MORNING. IF. GOOD MORNING
EVERYONE SO WE'D ALSO LIKE TO
START OFF BY THANKING YOU FOR
STAYING I'M SUCH AN IMPORTANT
CONVERSATION AND FOR INVITING
US TO BE A PART OF IT I'M THE
DEPARTMENT OF CONSUMER AND
BUSINESS AFFAIRS HAS BEEN
PROVIDING ARMED SERVICES TO
CONSUMERS SMALL BUSINESSES I'M
IN THE COUNTY SINCE NINETEEN
SEVENTY SIX AND SO TODAY WILL
FOCUS IN ON TO- AREAS OF OUR
WORK THAT DIRECTLY CONNECTED
WITH NOT JUST STUDENT AT THE
HIGH COST LOANS AND SO ALSO.
TELLING YOU HOW I AM SOME OF
OUR SERVICES TO THE YOU CAN SEE
THE COMPREHENSIVE APPROACH THAT
WE TAKE- TO PROTECT CONSUMERS I
AM. IN THE COUNTY AND SO MORE
RECENTLY- WE'VE EXPANDED OUR
TENANT PROTECTIONS FOCUSED ON
RENT STABILIZATION AS YOU'VE
HEARD TODAY THERE'S A DIRECT.
CONNECTION BETWEEN STUDENTS NOT
JUST BEING ABLE TO ACCESS
EDUCATION BUT ALSO HAVING
STABILITY- IN HOUSING AND FOOD
AND SECURITY- WE LOOK AT WAGE
ENFORCEMENT MAKING SURE THAT
EMPLOYERS ARE PAYING ON THE
COUNTY MINIMUM WAGE SO OUR- OUR
OUR OUR STUDENTS IN OUR THEIR
PARENTS RECEIVING. THE WAGES
THAT THEY RIGHTFULLY DESERVE SO
WITH AN INVESTIGATION UNIT FOR
THAT WE HAVE- IMMIGRANT AFFAIRS
IT'S FOCUSED ON PROTECTING
AGAIN THOSE PEOPLE'S PHONE
HERBAL I'M- IT MAY NOT
NECESSARILY OR EASILY CONNECT
TO. TO PUBLIC SERVICES ARE WE
HAVE A SMALL BUSINESS
UTILIZATION THAT'S FOCUSED ON
INCREASING- CONTRACTS- TO SMALL
BUSINESSES. I'M WE HAVE
FORECLOSURE PREVENTION FOR
HOMEOWNERS EXPERIENCING
CHALLENGES WITH THEIR
MORTGAGES. AND THEN TODAY WILL
FOCUS ON CONSUMER PROTECTION
AND THE CENTER FOR FINANCIAL
EMPOWERMENT OVERSEEN BY DONNIE
CHAU MY COLLEAGUE SO YOU'LL GET
TO HEAR FROM HER TODAY AS WELL
SO WE- ARE IN DOING SOME OF THE
RESEARCH AS WE WERE PREPARING
FOR THIS CONVERSATION. YOU'VE
HEARD A LOT AROUND OUR
INFORMATION ON STUDENTS
ATTENDING PUBLIC SCHOOLS AND SO
WHEN WE STARTED TO LOOK AT OUR
DATA INTERNALLY AND
UNFORTUNATELY BECAUSE OUR
TRACKING SYSTEM ONLY GOES BACK
TO TWO THOUSAND ELEVEN IN TERMS
OF A FORMAL A DATABASE AND
TRACKING SYSTEM- WHAT WE FOUND.
IS TWO THINGS ONE IS THAT THE
MAJORITY OF THE CONSUMERS OR
BORROWERS THAT COME TO US OUR
BORROWERS- THAT HAVE ATTENDED A
FOR PROFIT SCHOOLS I. GOT
SCHOOL DOWN THERE IS A BIG WAVE
OF THOSE THAT THAT SHUT DOWN A
FEW YEARS AGO AND SO MANY OF
THOSE FOR CALLING OUR CENTER
LOOKING FOR. AN. THEN I HAVE
BEEN GROUP BEFORE. I'M CALLING
ON BECAUSE MAYBE THEY TOOK
ADVANTAGE OF WHAT THEY THOUGHT
WAS A FEDERAL STUDENT LOAN
FORGIVENESS PROGRAM AND SO NOW
THEY WERE THEY WERE VICTIMS OF
A DIFFERENT SORT OF SCAM YOU'LL
ALSO HEAR TODAY SOME OF THE
WORK THAT WE'RE DOING
SPECIFICALLY FOCUSED ON FOSTER
YOUTH AND SO WILL TELL YOU SOME
OF THE EFFORT ON THAT THE
COUNTY IS TAKING THE FOCUS ON.
POPULATION SO WHAT YOU'LL HEAR
IS OUR WORK IS REALLY FOCUSED
ON THE FOR AN EDUCATION IN ON
THE ACT CAN ONCE CONSUMERS
FARMERS ARE VICTIMS OF
POTENTIALLY SCAMS RIGHT
UNDERNEATH THAT AND ALSO OUR
WORK AROUND SOME OF THE POLICY
WE'RE- FOCUSED ON. HIGH COST.
SO WITH THAT I'LL TURN IT OVER
I'M TO MY COLLEAGUES. TELL YOU
ABOUT I'M THE EDUCATION EFFORTS
THAT ARE CURRENTLY UNDER WAY IN
THE CENTER FOR FINANCIAL
EMPOWERMENT. GOOD MORNING
EVERYONE THE CENTER FOR
FINANCIAL EMPOWERMENT WORKS TO
BUILD ECONOMIC STABILITY IN
HOUSEHOLD WEALTH FOR LOW TO
MODERATE INCOME LA COUNTY
RESIDENTS. AND WE DO THAT BY
EDUCATING AND EMPOWERING
CONSUMERS TO MAKE INFORMED
FINANCIAL CHOICES BUILDING
SYSTEMIC LONG TERM CHANGES THAT
ADVANCE WEALTH EQUITY AND
HELPING TO FACILITATE CAPACITY
BUILDING FOR LOCAL NONPROFITS
THAT DELIVER SERVICES AND
COUNTY DEPARTMENTS AS WELL. SO
ONE EXAMPLE OF HOW WE WORK TO
EDUCATE- YOUNG ADULTS WE WORK
VERY CLOSELY WITH TRANSITION
AGE USE SO ROUGHLY SPEAKING
YOUTH BETWEEN SIXTEEN TO TWENTY
FOUR ON BECAUSE THEY ARE A VERY
HIGH RISK FOR BEING VICTIMS OF
A FINANCIAL EXPLOITATION. WE
WORK WITH TRANSITION AGE YOUTH
THAT ARE EXITING THE FOSTER
CARE SYSTEM WE PROVIDE CONSUMER
PROTECTION AND FINANCIAL
EDUCATION WORKSHOPS TO USE TO
ENSURE THAT THEY ARE READY TO
TRANSITION INTO ADULTHOOD. AS A
CONSUMER SAVVY ADULT AND A
FINANCIALLY EMPOWER ADULT. WE
ALSO HOLD WORKSHOPS FOR YOUTH
WHOSE PARENTS RECEIVED PUBLIC
BENEFITS AS A WAY OF ADDRESSING
GENERATIONAL POVERTY THAT WE
OFTEN SEE WITHIN OUR DEPARTMENT
OF PUBLIC SOCIAL SERVICES. AND
THEN IN ADDITION TO THOSE WE
ALSO WORK WITH FOSTER USED TO
CLEAR THEIR CREDIT REPORTS ON
BECAUSE WE HAVE FOUND THAT AT
TIMES UNFORTUNATELY NGUYEN
FOSTER YOUTH ARE IN THE SYSTEM
THEY MAY BE VULNERABLE TO BEING
VICTIMS OF ID THEFT. AND SO WE
WANT TO MAKE SURE THAT AT THE
TIME OF EMANCIPATION THEY LEAVE
WITH A CLEAN A CREDIT REPORT
THAT WILL NOT BE AN ADDITIONAL
BARRIER THAT IMPACT THEIR
ABILITY TO BE. SELF SUFFICIENT
ADULT APPOINTMENTS XIN. ALSO
JUST A FEW EXAMPLES OF SOME OF
THE EDUCATION WORK THAT WE DO.
SO WHEN WE STARTED TO GET THE
INFORMATION WE FOUND- THE
CENTER FOR RESPONSIBLE LENDING-
HAS. FOUND THAT A FOR PROFIT
SCHOOLS IMPACT- LOW INCOME
FAMILIES THE MOST WOMEN IN
AFRICAN AMERICANS AND SO WHEN
WE STARTED TO LOOK AT SOME OF
THE INFORMATION THAT'S
AVAILABLE SOME OF THE DATA
PIECES- WE FOUND THAT THE
MAJORITY 40% OF THE STUDENTS-
THAT ARE ATTENDING THE FOR
PROFIT COLLEGES. ARE NOT JUST
FOR PROFIT COLLEGES BUT THERE
THERE. NOT THE HIGHEST RANKING
SCHOOLS AND SO THEY'RE ENDING
UP WITH STUDENT DEBT SOME OF
THEM ARE NOT GRADUATING
COMPLETING A DEGREE OR ARE
UNABLE TO SECURE AND STABLE
EMPLOYMENT EMPLOYMENT THAT WILL
GENERATE THE INCOME NEEDED TO
PAY THE DEBT. AND SO. AS WE
WERE GOING THROUGH SOME OF THE
STORIES AND SOME OF THE CASES
THAT WE HAD I'M STARTING IN
ABOUT TWO THOUSAND ELEVEN WHEN
THE SCHOOLS WHEN MANY OF THE
PRIVATE SCHOOL STARTED TO
CLOSE. OUR WHAT WE WERE FINDING
IS THAT THE STUDENTS WERE AT A
LOSS CITY GENERALLY RECEIVED A
LETTER IN THE MAIL WITH VERY
LITTLE INSTRUCTION AND SO OUR
INVESTIGATORS ARE CONSUMER
ADVOCATES- THEN HAD TO SUPPORT
WITH GUIDANCE IN NAVIGATING-
WHETHER IT WAS. DIRECTLY WITH
THE SCHOOL OR WITH CREDIT
BUREAUS IN TERMS OF WHAT THEIR
OPTIONS WERE TO DISSOLVE- THE
DEBT THAT THEY HAD AND KURT SO
WE KNOW THAT TO THEIR ENTERING
THE SCHOOLS AT A HIGHER RATE
AND WE KNOW THAT THEIR LEAVING
THE SCHOOLS WITH HIGHER DEBT.
AND MANY TIMES ARE NOT SECURING
ARMS I QUIT PAYING JOBS IN
ORDER TO BE ABLE TO REPAY I
HAVEN'T THE DEBT. AS DONATION
MENTIONED IDENTITY THEFT IS
ALSO A BIG FACTOR IT IS ANOTHER
A SECTOR IN TERMS OF OUR
CASELOAD THAT COMES IN- FOLKS
THAT FEEL LIKE SOMEONE. ATTEND
HOUSEHOLD ARMY MAY HAVE USED
THEIR IDENTITY TO SECURE THAT.
ARM AND SO THOSE AGAIN CASES
THAT ARE VERY PREVALENT. I'M A
BIG SOURCE IN A BIG NUMBER OF
THE CASES THAT WE WERE SEEING-
LIKE I MENTIONED EARLIER WERE
AROUND SCAMS. AND SO
UNFORTUNATELY WITH SOCIAL MEDIA
AND SOCIAL MEDIA INFLUENCERS
ARE WE HAVE FOLKS IT-
VALIDATING SOME OF THESE. THESE
AGENCIES THAT ALLEGE THEY CAN
SECURE- DEBT FORGIVENESS FOR
THE STUDENTS AND THEY DON'T
KNOW THAT WHAT THEY'RE ACTUALLY
DOING IS ENTERING INTO
FORBEARANCE SO IF THE STUDENT
AND THE BORROWER IS LUCKY THEY
WILL CALL US FIRST TO VERIFY IF
THIS IS A LEGITIMATE COMPANY-
BUT MOST TIMES ARE CALLING ONCE
THEY'VE ALREADY SIGNED SOME
SORT OF CONTRACT. AND ARE
TRYING TO FIGURE OUT WHAT THEIR
OPTIONS ARE NOW- THE OTHER
PIECE TO ALSO CONSIDER IS THAT
WANTS TO STUDENTS MAYBE THEY
WERE ON THE RIGHT PATH FOR A
DEBT FORGIVENESS PROGRAM BUT
ONCE YOU'VE SIGNED ON TO A
DIFFERENT PROGRAM. WHAT ARE THE
THINGS YOU DO IS YOU GIVE UP
YOUR RIGHTS TO GO BACK AND SO
AGAIN WHEN YOU THINK ABOUT THAT
1% IT'S ACTUALLY ABLE TO TAKE
ADVANTAGE OF THE DEBT
FORGIVENESS. IT BECOMES VERY
SMALL AND WE START TO THINK
ABOUT I'M THE ACCESS TO
INFORMATION AND WHO ACTUALLY
UNDERSTANDS AND HAS ADVOCATES
TO HELP THEM NAVIGATE THE
SYSTEMS TO REALLY UNDERSTAND
THE DECISIONS THAT THEY'RE
MAKING SO. AGAIN AS VIC DOT
THINKING ABOUT YOUR IN A
VULNERABLE SITUATION YOU ARE.
TRYING TO FIND THE RIGHT
RESOURCES TO HELP SUPPORT I'M
FINE NOW SITUATION AT THE
MOMENT BUT LONG TERM YOU END UP
IN A MUCH- MORE SEVERE
COMMISSION BECAUSE NOW CREDIT
SCORE PROBABLY IMPACTED. THE
OPTIONS ARE MUCH MORE LIMITED
IN TERMS OF WHAT OUR APARTMENT
CAN ACTUALLY DO AT THAT POINT
SO WE HAD SUCCESS RATES WITH
SCHOOLS. WERE WE CLOSING
BECAUSE THERE WERE READY FOR
THAT BOB THIS IS DAN HOW
POTENTIALLY SIGNED ON TO A
MEMORY DIMM OF CAM IN THE
OPTION. IT IN THOSE SITUATE
INTO DEPARTMENT SERVICEMEN AS
GOT. I'M ACTUALLY IN THE PAST
TO GET HER FOR IT THE CASE. I'M
OUT TURN IT BACK OVER TO YOU
DON YOU SHOULD TO TALK ABOUT
THE POLICY WORK THAT WE CAN ON
RECENTLY. ABSOLUTELY ANGEL
NINETY BORDER THERE'S HI THE
FACT THAT RISEN FROM THE DEAD
IMPACT INCLUDING STUDENTS AND
HIGH COSTS LENDING AND WHEN I
SAY HIGH COST LENDING I'M
REFERRING TO AUTO TITLE LOANS
PAYDAY LOANS AND OTHER SMALL
DOLLAR LENDING- PRODUCTS THAT
HAVE INCREDIBLY HIGH APR SO
USUALLY IN THE TRIPLE DIGITS
WE'VE FOCUSED ON PROTECTING
CONSUMERS FROM THESE FINANCIAL
PRODUCTS. AND PROVIDING THEM
WITH EDUCATION SO THAT THEY CAN
BE BETTER INFORMED AS TO THE
RISK OF THESE PRODUCTS. THIS
YEAR THE COUNTY SPONSORED
ASSEMBLY BILL FIVE THIRTY NINE
ALSO KNOWN AS THE FAIR ACCESS
TO CREDIT ACTS AUTHORED BY
ASSEMBLY MEMBER LEE MONN WHICH
WAS SIGNED INTO LAW BY GOVERNOR
NEWSOME AND THIS BILL WILL CAP
INTEREST RATES AT THIRTY SIX
PERCENT. PLUS FED FUND RATE ON
LOANS BETWEEN TWENTY FIVE
HUNDRED AND NINE THOUSAND NINE
HUNDRED NINETY NINE DOLLARS
BECAUSE WHAT WE FOUND IN OUR
RESEARCH IS THAT WHEN PEOPLE
ARE SHORT ON CASH AND ANY MONEY
RIGHT AWAY. THEY MAY GO TO
THEIR LOCAL- PAYDAY LENDING
STOREFRONT TO GET A PAYDAY LOAN
BUT ULTIMATELY BE STEERED INTO
A HIGHER DOLLAR LOAN ABOVE THE
THREE HUNDRED DOLLAR PAYDAY
LIMIT BECAUSE OF THOSE LOANS
UNBEKNOWNST TO THEM. CURRENTLY
AT THE TIME DID NOT HAVE AN
INTEREST RATE CAPS SO AB FIVE
THIRTY NINE WILL EMPLOY THIRTY
SIX PER INTEREST RATE CAPS TO
PROVIDE IT CONSUMER PROTECTION
ALL. FIND PRODUCTS. THE COUNTY
ALSO SPONSORED A- BILL THREE
SEVEN SIX. OUR BILL OF RIGHTS.
BY ASSEMBLY MEMBER STONE WHICH
WOULD CREATE STATE STANDARDS TO
REGULATE STUDENT LOAN SERVICES
AND INCREASED CONSUMER
PROTECTIONS FOR STUDENT LOAN
BORROWERS. ADDITIONALLY OUR
DEPARTMENT IS WORKING TO
IDENTIFY SAFE AND AFFORDABLE
FINANCIAL PRODUCTS THAT COULD
BE A HEALTHIER ALTERNATIVE TO A
TRADITIONAL PAYDAY LOAN SO
RIGHT NOW WE ARE WORKING WITH
FINANCIAL INSTITUTIONS
INCLUDING LOCAL CREDIT UNIONS
TO TRY AND DEVELOP A SAFER
ALTERNATIVE LENDING PRODUCTS.
AND ULTIMATELY OUR GOAL IS TO
FOSTER PARTNERSHIPS ACROSS
SECTORS- BY LEVERAGING
COLLECTIVE ACTION TO IMPROVE
THE FINANCIAL PRACTICES PROVIDE
ACCESS TO FAIR AFFORDABLE
CREDIT AND PROMOTE FINING TO
EMPOWERMENT FOR ALL
CALIFORNIANS. SO WITH THAT WILL
TURN IT BACK OVER TO YOU HAVE
ANY QUESTIONS FOR US THANK YOU.
I'M TO AS YOU MENTIONED WE DID
MAKE SOME PROGRESS THIS YEAR
WITH AB FIVE FIVE THIRTY NINE
IN TERMS OF CRACKING DOWN ON
PREDATORY LENDING WHICH I THINK
IS A- MUCH. STEP FORWARD.
HOWEVER THERE WERE A COUPLE OF
OTHER BELLS THAT YOU MAY HAVE
BEEN INVOLVED IN THAT. I DID
NOT MAKE IT THROUGH THE
PROCESS- WHICH WERE TENDING TO
ADDRESS. FOR PROFIT COLLEGES
SPECIFICALLY PARTICULARLY
CRACKING DOWN ON SOME DECEPTIVE
MARKETING PRACTICES. I'M I
THINK THAT IT'S VERY LIKELY
THAT THOSE WILL BE REINTRODUCED
THIS SESSION EITHER HIM. FROM
THE PREVIOUS AUTHORS ARE OR BY
OTHER AUTHORS AND- I'M JUST I
THINK WE'RE GONNA NEED. A LOT
HAS HAPPENED SUPPORT TO MAKE
SURE THAT WE ARE EFFECTIVELY
ADVOCATING WITH THE LEGISLATURE
TO MAKE SURE THAT WE DO MAKE
PROGRESS ON THAT AREA BECAUSE-
I THINK AS YOU POINTED OUT. SO
MANY THE PEOPLE THAT COME TO
YOU. IT'S BECAUSE THEY'VE BEEN
TAKEN ADVANTAGE OF BY THESE FOR
PROFIT COLLEGES AND- I THINK
THERE'S A LOT MORE THAT WE AS A
LEGISLATURE. AND AS POLICY
MAKERS CAN DO. I INCHED HER
THAT WE'RE PROTECTING PEOPLE
FROM. US THIS AMP EQUALLY
PRESS. A PRACTICE SAYS. ON IT
IN ADDITION TO AYE THINKS
LEGISLATIVE STEPS. I FEEL LIKE
WE CAN ALSO DO MORE. TO GIVE
POTENTIAL BORROWERS JUST BETTER
INFORMATION ABOUT. THE QUALITY
OF THE PROGRAM THAT THEY'RE
ENTERING INTO WHETHER THAT'S-
DEFAULT RATES ARE AND- EARNING
RIGHT. I'M YOU AS YOU TALK TO
CONSUMER AS YOU TALK TO PEOPLE
HAVE BEEN DO YOU. FROM YOUR
FIRST OF WHAT CAN I. DO TO GIVE
PEOPLE BETTER INFORMATION AND
HELP THEM MAKE CHOICES NOT ALL
RATE THE SCAM. SO WHEN THINGS
AREN'T THAT THE CFE THERE ARE
WAS SUPPOSED A SERIES OF FOCUS
GROUPS. AND SO WE WERE LOOKING
AT HIGH COST LOANS SPECIFICALLY
UP AS THEY THINK ABOUT SOME OF
THE LESSONS WE TOOK AWAY FROM
THAT- DONATION YOU CAN SPEAK
MORE TO THAT IS. WHAT WE HEARD
BACK VERY CLEARLY IS THE- A
MARKETING STRATEGY THAT FOCUSES
ON THE INTEREST RATE OR THAT
FOCUSES AND FEELS LIKE IT'S A
SHAMING TACTIC. IS NOT
EFFECTIVE AND SO BECAUSE
OPTIONS IN MOST OF THESE
COMMUNITIES ARE ALREADY LIMITED
THEY'RE VERY AWARE- THAT THIS
IS PROBABLY THE ONLY ACCESS
POINT THAT THEY HAVE TO HIGHER
EDUCATION WHICH IS WHAT THEY'VE
BEEN TOLD RIGHT. GO TO SCHOOL
YOU'LL HAVE HIGHER YOU'LL EARN
HIGHER INCOME- BUT WHAT WE'RE
AT THE PART THAT WE'RE NOT
HAVING A VERY CLEAR
CONVERSATION ABOUT IS THE DEBT
THAT COMES AFTER THAT-
CHALLENGES WITH MAYBE
GRADUATING. AND SO WE CAN FIND
THE RIGHT- THE RIGHT TALKING
POINTS IN THE RIGHT MESSAGING
TO REALLY CONVEY TO STUDENTS.
I'M ABOUT WHAT THEIR OPTIONS
TRULY ARE IT COMES FROM A VERY
DIFFERENT PLACE DIFFERENT FROM
OUR CONCERNS AS WE THINK ABOUT
INTEREST RATES AND FEES. I'M AN
INCOME IS THAT SADDAM. CAN WE
THINK ABOUT HOW TO DELAY THAT-
AN- IMMEDIATE NEED FOR A DEGREE
YOU KNOW IS IT A FOUR MONTH
PROGRAM IS THAT IT WHEN YOU'RE
PROGRAM. CAN THINK OTHER
STRATEGIES TO REALLY HELP
MAXIMIZE THE STUDENT'S
POTENTIAL I'M NOT A GET LOSE
MONEY IN THE PROCESS. AND WE
THINK WE HEARD A LOT. THE PHOTO
IS. LIKE WAS DESIGNED FOR THEM
WHICH IS VERY SHOCKING RIGHT
BECAUSE WE THINK ABOUT THOSE
PLACES AS YOU KNOW QUICK YOU
COME IN FIVE MINUTES THE ASK
VERY LITTLE QUESTIONS THEY JUST
WANT TO KNOW IF YOU HAVE SOME
SORT OF IN COM MAYBE IT'S THEIR
STUDENT LOAN CHECK THAT IS YOU
KNOW COUNTING AS AS THAT SOURCE
OF INCOME AND SO WE THINK ABOUT
DEVELOPING APPROPRIATE
CAMPAIGNS THAT HELP GET THAT TO
THE STUDENTS WE ALSO LEARNED
THAT THERE ARE MORE LIKELY TO
RECEIVE THE INFORMATION FROM
TRUSTED SOURCES SO ARE THEY
PART OF ALREADY CONNECTED TO A
SCHOOL ARE THE PART IT MAY BE A
CHURCH OR THEY- WERE NOT.
AFFECT HOW DO WE THE MESSAGING
TO THEM IN THIS IS A. STATE IS
YOU KNOW AT. THE BUS SHELTER OR
AT THE TRAIN SO THINKING ABOUT
WAYS IN WHICH WE MAXIMIZE SOME
OF OUR MARKETING DOLLARS TO
REALLY HIT THE MESSAGE HOME.
AND WHAT ARE SOME OF THE
PROGRAMS THAT THAT YOU HAVE
ROTH AND IMPLEMENTED THAT YOU
FEEL HAVE BEEN MOST ACTIVE. IN
TERMS OF THE HIGH COST LOANS
RIGHT NOW WE'RE AN EXPLORATORY
PHASE AND SO WE ARE DOING SOME
HOMEWORK WITH SOME ARE FOR NOT
NONPROFIT PARTNERS TO EXPLORE
WHAT ARE AT AN ATTENTIONAL
PRODUCTS. ODD LOAN PRODUCTS FOR
SOME OF OUR CONSUMERS AND SO
THERE'S A FEW NOT LOCAL
NONPROFITS TRUSTWORTHY
NONPROFITS THAT ARE PILOTING-
LOW COST INTEREST RATE LOANS I
ONE OF THEM FOR EXAMPLE IS
FOCUSED ON SMALL BUSINESSES.
ARE THOSE SMALL BUSINESSES THAT
MAY NOT HAVE ACCESS TO
TRADITIONAL CAPITAL AND THEY
CAP THEY'RE INTERESTED 8% ARE
WE HAVE ANOTHER NONPROFIT
PARTNER ARMED THAT PARTNERED
WITH THE FIN TECH COMPANY IS
EXPLORING WHAT IT LOOKS LIKE
TO. AND THEY WOULDN'T CALL IT
FINANCING BUT SUPPORTING A
BARBER TO REPAY BACK. I EIGHTY
LOANS AND HAVING AN INTEREST
RATE ALSO FIXED ON THAT OR
MODELING IT LIKE A SAVINGS
PROGRAM. AND SO WE THINK THAT
THERE'S FOLKS OUT THERE THERE
ARE DOING CREATIVE THINGS WE
JUST NEED TO FIGURE OUT WHERE
GOVERNMENT CAN FIT IN THAT
EQUATION DO WE SUPPORT IT IS
IT'S A SUSTAINABLE IN THAT WAY
OR IS THERE A PRODUCT. THAT AS
A COUNTY AGENCY WE CAN LOOK AT
EXPLORING AND CREATING. AND I
WOULD ADD THAT THE COUNTY IS A
MINIMUM WAGE CAMPAIGN HAS BEEN
INCREDIBLE ACTIVE ARE HONEST
WORK FAIR CAMPAIGN. AND WHAT
HAS MADE THAT SO ACTIVE IS OUR
ABILITY TO LEVERAGE LOCAL
NONPROFIT ORGANIZATIONS SO WE
WANTED TO INFORM. LA COUNTY
RESIDENTS SAY HEY THERE'S A NEW
MINIMUM WAGE ORDINANCE HERE'S
THE NEW PAY SCHEDULE BUT NOT
JUST RELYING ON OUR OWN VOICE
TO GET THE WORD OUT THE
BUILDING A CADRE. OF DOZENS OF
NONPROFIT ORGANIZATIONS TO HELP
US BE THAT THE MESSENGER AGAIN
GOING BACK TO THE TRUSTED
MESSENGER APPROACH. AND THEN
FROM THE OTHER PANEL WE TALKED
A BIT ABOUT THE FACT THAT WE'RE
LEAVING. SO MUCH MONEY ON THE
TABLE AS A STATE. AND AS YOU
WERE TALKING ABOUT SOME OF THE
FOLKS THAT COME TO YOU THEY
THEY FEEL LIKE MAYBE THEY'RE
ONLY OPTIONS ARE. THESE YOU
KNOW HI COST FOR PROFIT
COLLEGES OR THESE REALLY HIGH
I. HI COSTS LENDING PRODUCTS.
IS THAT TRUE OR ARE WE JUST NOT
DOING A GOOD ENOUGH JOB OF.
LETTING PEOPLE KNOW WHAT THEY
ACTUALLY QUALIFY FOR. ATC SO
SURE THE EARNED INCOME TAX
CREDIT IS THE NATION'S LARGEST
ANTI POVERTY PROGRAM AND EVEN
THOUGH IT'S THE NATION'S
LARGEST ANTI POVERTY PROGRAM
RESEARCH HAS SHOWN THAT FIVE
HUNDRED AND EIGHTY MILLION
DOLLARS GOES AND CLAIMED EVERY
YEAR IN THE COUNTY OF LOS
ANGELES IS A REFUNDABLE TAX
CREDIT IT'S A WAY TO PUT MORE
MONEY BACK INTO THE HANDS OF
SOME OF OUR HARDEST WORKING
INDIVIDUALS AND FAMILIES ALL
YOU HAVE TO DO IS PUT IT ON
YOUR INCOME TAX RETURN IF YOU
QUALIFY YET THOUSANDS AND
THOUSANDS OF PEOPLE IN FAMILIES
DON'T SO I DO THINK THAT OUT
REACH IS CRITICAL BUT AGAIN
IT'S- THE RIGHT. OUT EACH RIDE
IS THING NONPROFIT IT'S DOING
INNOVATIVE THINGS LIKE TEXT
MESSAGE CAMPAIGNS AND NOT JUST
RELYING ON CONSTITUENTS TO COME
TO US CAN ASK QUESTIONS BUT US
LEVERAGING WHATEVER RESOURCES
WE HAVE TO PUSH OUT CONTENT.
YEAH AND THE TIME THAT I WOULD
MAKE BACK IS PART OF WHAT WE'VE
HEARD FROM SOME OF OUR
PARTNERS. IS THAT WE CAN
SUPPORT OUR REGION WE CAN.
IMPROVE OUR MARKETING BUT THEN
ALSO SUPPORTING THE CAPACITY
BUILDING ON THE BACKEND SO THAT
THEY CAN ACTUALLY ABSORB THE
INFLUX OF NEW FILERS AND SO AS
I THINK ABOUT YOUR QUESTION IS
ARE WE DOING A GOOD. JOB OF
INFORMING PEOPLE AREN'T WE CAN
PROBABLY DO A BETTER JOB OF
DOING THAT BUT THEN ALSO HOW DO
WE TRAIN AND WORK WITH. HIGH
SCHOOL KIDS SLIPPERS MAYBE IT'S
A COLLEGE COUNTS. TO IMPROVE
PASSED TO REALLY UNDERSTAND
THAT SURE THIS IS JUST A FORM
BUT THE IMPLICATIONS OF WHETHER
THAT STUDENT FILLED OUT
CORRECTLY OR NOT. GOES FAR
GREATER THAN JUST YOU KNOW
THOSE FIFTEEN MINUTES THAT THEY
GET TO SPEND WITH THE STUDENT.
AND SO THAT IT'S REALLY
IMPORTANT THAT THEY UNDERSTAND
THE IMPLICATIONS NOT JUST FOR
THIS VERY MOMENT WITH THE
STUDENT IN THEIR FIRST YEAR BUT
THEN LONG TERM THEIR GRADUATION
RATES THE- FACT. THAT THEY WILL
CARRY FORWARD AND SO I THINK
THERE'S WORK THAT WE CAN
DEFINITELY DO DO I. BY ALLIED
TO CAN HELP SUPPORT IN THIS
EFFORT. AND THEN. WE TALKED
ABOUT THE- ISSUE AB RIGHT
SWITCH YOUR YOU'VE BEEN A
SPONSOR. I HAVE AND I KNOW
PEOPLE. TO WORK HARD ON NEXT
YEAR IN ADDITION TO THAT PIECE
OF LEGISLATION ARE THERE
SPECIFIC. NO LEGISLATIVE OUR
POLICY FIXES THAT YOU WOULD
LIKE TO SEE AS INTRODUCED NEXT
YEAR. WE'VE WE'VE NOT WE
HAVEN'T DISCUSSED THOROUGHLY
ADAM BUT WE ALWAYS COME BACK TO
CONSUMER PROTECTION AND HOW DO
WE TIGHTENED THE ROPES AROUND
SOME OF THESE THINGS SO FOR
EXAMPLE- WE WERE ALREADY
HEARING ABOUT. WORK AROUNDS
THAT SOME FOLKS ARE COMING UP
WITH AROUND THE 36% CAP AND SO
HOW DO WE THINK JUSTICE
CREATIVELY AS THEY ARE I'M TO
TIGHTEN- SOME OF THOSE LOOSE
ENDS. AND CONSUMER PROTECTION
FOR US IS BIG OUT TO ENSURE
THAT- WE'RE NOT JUST BE
REACTIVE WE CAN BE PROACTIVE IN
IN OUR APPROACH. EXCELLENT
GREAT WELL THANK YOU SO MUCH
AGAIN FOR BEING HERE AND DIVE
FOR THE WORK THAT YOU DO YOU.
THINK YOU ARE ON BEHALF OF YOUR
CONSTITUENTS. RIGHT SO I'M
GONNA GO AHEAD AND CALL UP OUR
OF FINAL PANEL. AS THE AS
SUBJECT IS BUILDING SOLUTIONS
AND WOULD LIKE TO WELCOME INTO
THE PERIOD POLICY ANALYST. AT
THE INSTITUTE FOR COLLEGE
ACCESS AND SUCCESS. AND CAP
WHILE BACK THE CIVIL RIGHTS
COUNCIL OF FROM THE STUDENT
POWER PROTECTION CENTER. THANK
YOU SO MUCH FOR BEING HERE.
RIGHT I WOULD LIKE TO START OUT
BY NEXT WEEK EVERYONE ELSE IS
VERY POOR ASSEMBLY THIS. AND
REALLY TAKING A LOOK AT THE
MEDICAL ISSUES ARE. I AM HERE
TO PROVIDE SOME INFORMATION TO
ECHO- SOME OF THE EARLIER
CONCERNS WE HEARD- ARMED WITH
INFORMATION ON HOW FOR PROFIT
COLLEGES TYPICALLY CONTRIBUTE
TO THE STUDENT STRUGGLES OF
CALIFORNIA. THE INSTITUTE OF
COLLEGE ACCESS AND SUCCESS IS A
NONPROFIT NONPARTISAN RESEARCH
AND POLICY ORGANIZATION WITH
HEADQUARTERS IN OAKLAND IN
WASHINGTON WE FOCUS ON FEDERAL
AND CALIFORNIA STATE POLICY
AIMED AT IMPROVING COLLEGE
AFFORDABILITY EQUITY AND
ACCOUNTABILITY. SO THAT'S HOW
WE COME TO THIS WORK- I
SPECIFICALLY LOOK AT FOR PROFIT
WORK AT STUDENTS OFTEN- AND
STUDENT AT IS A PROBLEM FOR
MANY STUDENTS BUT ITS IMPACT
CAN BE ESPECIALLY OUTSIDE FOR
STUDENTS OF FOR PROFIT
COLLEGES. I'M GRADUATES OF FOR
PROFIT INSTITUTIONS ARE MORE
LIKELY TO HAVE DEBT THAN THEIR
PEERS FROM PUBLIC AND NONPROFIT
SCHOOLS AND THEY GENERALLY END
UP WITH MORE DEBT OVERALL FROM
THEIR EDUCATIONS. NEARLY 65% OF
STUDENTS TO CALIFORNIA FOR YOUR
FOR PROFIT SCHOOLS TAKE OUT
LOANS TO PAY FOR THEIR
EDUCATION WHICH IS ALMOST TWICE
AS MANY AS THE NUMBER OF
STUDENTS THAT ATTEND PUBLIC
PROGRAMS. AB GRADUATES FROM
FOUR YEAR FOR PROFIT SCHOOLS
ALSO LEAVE WITH AN AVERAGE OF
THIRTY ONE THOUSAND THREE
HUNDRED AND FORTY FIVE DOLLARS
IN DEBT WHICH IS TWICE AS MUCH
AS STUDENTS GRADUATING FROM
PUBLIC UNIVERSITIES IN
CALIFORNIA. PARTICULARLY
TROUBLING OR THE STRUGGLES THE
STUDENTS FACE WHEN IT COMES BE
PAYING THEIR DEBT OUT WELL
STUDENTS ENROLLED AT FOR PROFIT
COLLEGES REPRESENT ONLY 9% OF
HIGHER EDUCATION STUDENTS IN
CALIFORNIA. THE ACCOUNT FOR
HALF OF THE STUDENT LOAN
DEFAULTS IN THE STATE. AT THE
US DEPARTMENT OF EDUCATION
RECENTLY RELEASED UPDATED DATA
ON HOW WELL BORROWERS ARE
PAYING DOWN THEIR DEBT. AND
MORE THAN HALF 55% OF BORROWERS
FROM CALIFORNIA SCHOOLS WERE
NOT PAYING DOWN THEIR
PRINCIPLES. HAD ATTENDED FOR
PROFIT SCHOOLS- WHEN CALIFORNIA
STUDENTS ARE HARMED BY FOR
PROFIT INSTITUTIONS IT IS LOW
INCOME FAMILIES AFRICAN
AMERICANS AND WOMEN THAT ARE
DISPROPORTIONATELY AFFECTED.
55% OF STUDENTS ENROLLED AT FOR
PROFIT WHICH IS OUR LOW INCOME
FIFTEEN PER CENT ARE AFRICAN
AMERICAN AND SIXTY THREE ARE
FEMALE THESE ALL HIGHER THAN
THE AVERAGE PERCENTAGE IS WHEN
COMPARED TO PUBLIC AND
NONPROFIT INSTITUTIONS. BAD
ACTORS SECTOR HAVE HISTORICALLY
TARGETED THE MOST DISADVANTAGED
GROUPS THE STUDENTS MOST IN
NEED OF THE BENEFITS HIGHER
EDUCATION CAN OFFER BUT WHO CAN
LEAST AFFORD THE STAT. CONCERNS
ABOUT POOR QUALITY PROGRAMS
RESULTING IN ON AFFORDABLE DEBT
LET THE OBAMA ADMINISTRATION TO
CREATE THE GAINFUL EMPLOYMENT
RULE WHICH REQUIRED POORLY
PERFORMING PROGRAMS TO IMPROVE
IN ORDER TO STAY ELIGIBLE FOR
FEDERAL FINANCIAL AID. DATA
MADE AVAILABLE UNDER THE RULE
SHOWED THAT AMONG CALIFORNIA
SCHOOLS ALONE MORE THAN FIFTY
SIX THOUSAND STUDENTS GRADUATED
FROM THE WORST PERFORMING
PROGRAMS VIRTUALLY ALL OF THEM
FOR PROFIT SCHOOLS. I AND THOSE
STUDENTS HAD NINE HUNDRED AND
THIRTY MILLION DOLLARS IN DEBT
TO REPAY. THE ROLE
UNFORTUNATELY HAS SINCE BEEN
ROLLED BACK BY THE TRUMP
ADMINISTRATION. THE
ADMINISTRATION HAS ALSO TAKEN
STEPS TO SCALE BACK RULES
PROVIDING STUDENT LOAN JUST
CHARGES TO STUDENTS IN
CONNECTION WITH FRAUD OR OTHER
ILLEGAL ACTIVITIES OF THEIR
COLLEGES. AND IT IS NOT
PROCESSING THE CLAIMS OF TWO
HUNDRED AND TEN THOUSAND
APPLICANTS FOR BORROWER DEFENSE.
STATE LEVEL ACCOUNTING SO THE
CLAIMS BY STATE FOR BOTH TOTAL
CLAIMS SUBMITTED AND THE CLAIM
STILL PENDING SHOW THAT MORE
THAN ONE IN FIVE BAR DEFENSE
CLAIMANTS ARE FROM CALIFORNIA.
AT THE TRUMP ADMINISTRATION'S
OWN VERSION OF THE BAR DEFENSE
RULE FINALIZED IN AUGUST WILL
LEAVE OUR WORST REPAIR 897% OF
ALL OF THE DEBT INCURRED AS THE
RESULT OF COLLEGES MISCONDUCT
NOT AS ACCORDING TO THE
ADMINISTRATION'S OWN
CALCULATIONS. DESPITE ALL OF
THIS CALIFORNIA HAS TAKEN STEPS
TO ADDRESS THE RISKS FACED BY
STUDENTS OF FOR PROFIT
INSTITUTIONS AND IN TWENTY
NINETEEN THE STATE PASSED THREE
BILLS WHICH WILL ALLOW
CALIFORNIA TO STEP FORWARD.
EVEN AS THE FEDERAL GOVERNMENT
HAS STEPPED BACK. ON THE FIRST
OF THOSE BILLS IS AB THIRTEEN
FORTY- WHICH WAS AUTHORED BY
ASSEMBLY MEMBER CHIU- AND THAT
ESTABLISHED A PATH TOWARDS
MAKING MORE RELIABLE STATE
VERIFY DATA ABOUT POST COLLEGE
EMPLOYMENT OUTCOMES AVAILABLE
TO STUDENTS AT FOR PROFIT CALL.
IN CALIFORNIA FOR THE FIRST
TIME. AT THIS IMPROVED DATA
WILL BENEFIT BOTH STUDENTS AND
LAWMAKERS AS THEY EVALUATE
WHICH STUDENTS WHICH SCHOOLS
ARE PREPARING CALIFORNIANS FOR
GOOD JOBS AND WHICH ONES ARE
NOT. OUR SECOND AB THIRTEEN
FORTY FOUR FROM ASSEMBLY MEMBER
REBEKAH POWER QUE HAN- IMPROVED
THE STATE'S OVERSIGHT PROCESS
FOR OUT OF STATE ONLINE SCHOOLS
WHICH IN ROLE CALIFORNIANS. OUT
MOST CALIFORNIANS ENROLLED IN
ONLINE PROGRAMS ACTUALLY ATTEND
CALIFORNIA BASED SCHOOLS WE DO
A VERY GOOD JOB OF SERVING OUR
OWN STUDENT BODY. BUT THE
STUDENTS WHO ENROLL IN PROGRAMS
OUTSIDE OF THE STATE ARE AT THE
SCHOOLS WHERE STUDENTS ARE LESS
LIKELY TO PAY DOWN THEIR DEBT
AND MORE LIKELY TO DEFRAUD ON
IT. AT RETAINING AND USING FOR
HIS AUTHORITY TO OVERSEE THE
SCHOOLS IS A CRITICAL STEP TO
PROTECTING CALIFORNIANS FROM
AFFORDABLE THAT. I AND THE LAST
BILL AB THIRTEEN FORTY SIX FROM
ASSEMBLY MEMBER MEDINA EXPANDED
RELIEF FOR STUDENTS SEEKING TO
REBUILD THEIR LIVES AFTER THEIR
SCHOOLS CLOSE. UP GOING FORWARD
STUDENTS WILL BE ABLE TO
RECLAIM RELIEF FOR ANY DEBT
INCURRED TO OBTAIN THEIR
EDUCATION WHETHER IT WAS USED
TO PAY FOR TUITION HOUSING
CHILD CARE OR ANY OTHER
RECOGNIZED COST OF ATTENDANCE.
TWENTY TWENTY IS GOING TO BRING
MORE OPPORTUNITIES FOR
CALIFORNIA TO IMPROVE OVERSIGHT
FOR PROFIT SCHOOLS. TWENTY
TWENTY IS THE YEAR THE BUREAU
FOR PRIVATE POST. EDUCATION THE
AGENCY CHARGED WITH OVERSIGHT
FOR CAP ARGUES FOR PROFITS.
WILL BE UP FOR SUNSET REVIEW
AND RE AUTHORIZATION. THAT
PROCESS HAS HISTORICALLY
REPRESENTS OPPORTUNITY TO ABOUT
THE WAIT WHAT IS WORKING WELL
AT THE BUREAU. AND WHAT NEEDS
IMPROVEMENT. TKS LOOKS FORWARD
TO WORKING WITH THE MEMBERS OF
THIS COMMITTEE IN TWENTY TWENTY
ON THESE ISSUES PARTNERING WITH
YOU TO ENSURE THE BUREAU IS RE
AUTHORIZED IN A WAY THAT
ENHANCES OVERSIGHT OF COLLEGES.
ALONG WITH PROTECTIONS FOR
STUDENTS. OUT WHILE ANY AGENCY
HAS ROOM TO IMPROVE THE PURE
AND ESSENTIAL OVERSIGHT AND
CONSUMER PROTECTION ROLE FOR
SOME CALIFORNIA'S MOST
VULNERABLE STUDENTS. AND IT'S
IMPERATIVE STUDENTS BE SERVED
BY THE STATE OF CALIPARI.
THOUGHTS AT ARMS AFTER. THE
NEXT. WE WILL TAKE SOME
QUESTIONS. A GOOD MORNING AGAIN
AND BEFORE IT STARTED AGAIN I
WANT. EVERYONE SAID JUST IN
HERE AGAINST YOUR OWN BEACON
ARTS WERE HOLDING OF THIS
HEARING GIVE US AN OPPORTUNITY
TO TALK ABOUT THESE ISSUES-
AGAIN MY NAME IS CAT WHILE BACK
I'M A COUNSEL AT THE CEDAR BAR
PROTECTION CENTER- WORK OKAY ON
CIVIL RIGHTS IN FAIRLY ISSUES
AND THE SUIT THAT CRISIS. OUR
PARTY JOIN JOIN SB. FIVE YEARS.
AND SO. I'M HERE TODAY TO TALK
ABOUT OUR NATION'S ONE POINT
SIX TRILLION DOLLARS STUDENT
DEBT CRISIS THAT'S AFFECTING
NEARLY FORTY FIVE MILLION
BARBERS AND- AS WE'VE HEARD-
THROUGHOUT TODAY THIS CRISIS IS
TOUCHING BARS IN EVERY. EVERY
CORNER OF OUR COUNTRY INCLUDING
NEARLY FOUR MILLION BARS HERE
IN THE STATE OF CALIFORNIA- THE
AVERAGE TO LEARN THAT BALLOTS
NATIONWIDE ISN'T IS IN EXCESS
OF THIRTY THREE THOUSAND
DOLLARS. OVER NINE MILLION
BORROWERS ARE IN THE FALL AND
MILLION MORE HEARING TO FALL
STATUS. AND AS I SAID BEFORE
AND AS HAS BEEN SHARED HERE
TODAY. THE NUMBERS HERE IN
CALIFORNIA ARE EQUALLY DIRE
WITH- OVER ONE HUNDRED AND
FORTY BILLION DOLLARS IN
OUTSTANDING DEBT. AND FIFTEEN
POINT 4% OF STUDENT LOAN
BORROWERS SEVERELY DELINQUENT.
ON THEIR LIVES IN THE STATE-
ACROSS THE COUNTRY OVER ONE
MILLION BORROWERS DEFAULTED
LAST YEAR ALONE- THAT'S ONE
BORROWER DEFAULTING EVERY
TWENTY EIGHT SECONDS. AND AT
THIS CRISIS UNFOLD IN
NEIGHBORHOODS ALL ACROSS OUR
COUNTRY BAR WAS THE COMMUNITIES
OF COLOR FEEL THIS BURDEN MOST
ACUTELY SO THERE REALLY
EXPERIENCE SOME EXPERIENCING
SOME OF THE MOST SEVERE
CONSEQUENCES. ASSOCIATED WITH
THIS CRISIS- THROUGHOUT THE
LIFECYCLE OF THEIR LOANS
BORROWERS A COLOR BASICALLY
THINK IMPAIR ST PETE PROGRESS.
AND COMPOUND HISTORIC SOCIOLECT
SOCIO ECONOMIC INEQUALITY FACED
BY COMMUNITIES OF COLOR. MORE
THAN 90% OF AFRICAN AMERICAN
AND 72% OF LATINO STUDENTS FIND
THEIR HIGHER EDUCATION IT
ALLOWS. A COMPARISON WITH 66%
OF THEIR WHITE PEERS. THE
AVERAGE WHITE BORROWER PAYS
DOWN ALMOST NINETY FIVE ANOTHER.
TWENTY YEARS. COLLEGE AND
THAT'S A STARK CONTRAST TO
THEIR BLACK PEERS HE'S STILL-
95% OF THEIR ORIGINAL BALANCE
AFTER THE SAME PERIOD. RECENT
RESEARCH FROM THE FEDERAL
RESERVE BANK OF NEW YORK HAS
PROVIDED COMPREHENSIVE DATA
THAT FURTHER EXAMINES THESE
DISPARITIES ALONG PERFORMANCE
FOR BARS OF COLOUR. BUT ONLY
ONE COMMUNITIES HAVE THE
HIGHEST AND FASTEST GROWING.
STUDENT LOAN BALANCES WITH AN
AVERAGE BALANCE OF THIRTY
THOUSAND DOLLARS WHICH IS ALSO
GREATER THAN THE NATIONAL
AVERAGE. OF THE FEDERAL RESERVE
DATA ALSO POINTS TO LEARNING
TRENDS REPAYMENT DISPARITIES
DEFAULT RATES ARE APPROXIMATELY
SEVENTEEN POINT 7% MAJORITY
BLACK ZIP CODES ABOUT 13% AND-
LET'S UNION LATINO MAJORITIES
OF CODES AND THAT'S COMPARED
29% OF ALL GRADES. A MAJORITY
WHITE ZIP CODES- IT HERE
CALIFORNIA. THE SAME RING TRUE
WITH REGARD TO BORROW DISTRESS
THE FINDINGS FROM THE FEDERAL
RESERVE BANK BANK. IN SAN
FRANCISCO SHOW THE SIGNIFICANT
CHALLENGES FACING BARS THE
COLOR IN THE STATE OF
CALIFORNIA SO I'M HERE LOS
ANGELES A DEFAULT RATES A
PROFOUNDLY MINORITIES OF CODES
OR DOUBLE THOSE. AND WOULD ONLY
WHITE ZIP CODES- NEARING THE
DEMOGRAPHIC TRENDS HERE ACROSS
THE COUNTRY ALSO THE BAY AREA
CIP HAS THE HIGHEST LEVEL
DELINQUENCY AND A FALL ALSO
HAVE. LARGER PERCENTAGES OF
BLACK AND LATINO RESIDENTS. THE
SURVEY. CO FOUNDER BAY AREA
COMMUNITIES WITH THE LARGEST
PERCENTAGES OF BLACK AND LATINO
RESIDENTS HAD. NINETEEN POINT
9% OF OUR WAS A DELINQUENCY
FIFTEEN POINT 3% OF OUR WAS IN
THE FALL. AND SINCE TWO
THOUSAND THREE EIGHT TWENTY SIX
POINT 9% OF BORROWERS IN THIS
COMMUNITIES ON THE FAULT ON A
STUDENT LOAN. AND THAT'S ABOUT
THREE TIMES HIGHER THAN
NEIGHBORHOODS- WITH THE LOWEST
PERCENTAGES. OF BLACK AND
LATINO RESIDENTS. SO WITH A LOT
OF- SIMILARITIES TO THE
MORTGAGE CRISIS OF THE PAST
DECADE WE'RE SAYING THAT-
PREDATORY ACTORS ARE PREYING
UPON BARS OF COLOUR. SEEING
THEM SIMPLY AS A MEANS TO GET
RICH- INTO EIGHTEEN HOURS OF
THE CALIFORNIA SUED NOW. FOR
THEIR SERVICE DECEPTIVE
SERVICING PRACTICES. THAT YOU
HAVE ARE OUT OF THERE RIGHT
FULLER PAYMENT- SIMILARLY THIS
IF YOU BE. ILLINOIS
PENNSYLVANIA AND WASHINGTON SU
NAVVY SIMILAR PIECES THE YEAR
BEFORE- DEBT COLLECTORS ARE
ALSO MORE. THIS IS AN RATES OF
REPAYMENT. RIGHT HERE IN
CALIFORNIA NOW THAT ALSO SUED
WELLS FARGO FOR DISCRIMINATING
AGAINST QUALIFIED LOAN
APPLICANTS BASED ON IMMIGRATION
STATUS YEAH IN THE FACE OF ALL
THIS COUNTY EVIDENCE THAT
DEMONSTRATES THE NEED FOR MORE
RIGOROUS OVERSIGHT IN THE
INDUSTRY WE SEE THAT THE TRUMP
ADMINISTRATION IS REALLY JUST
TURNED ITS BACK ON BORROWERS-
TO SEE IF. AND THE DEPARTMENT
OF EDUCATION ARE CHARGED WITH
PROTECTING BARBAROUS FROM THESE
COUNTLESS ENOUGH OF ABUSES THAT
WE TALKED ABOUT IT BUT WHAT
WE'RE SEEING IS THAT THIS IN
ACTION ISN'T REALLY ALLOWING
THE INDUSTRY TO RIGHT. TO RUN.
AND JUST LAST WEEK- DEMOCRACY
FOR ON BEHALF OF STUDENT DEBT
CRISIS AS TO THE TRUMP
ADMINISTRATION- FOR EXACTLY ITS
DUTY TO SUPERVISE IT'S STILL IN
THE MARKET- THIS LAWSUIT WAS
FILED WITH SUPPORT FROM MY
ORGANIZATION WHICH IS COMPRISED
OF FORMER SEER. SEE IF YOU THE
OFFICIALS WHO ONCE LED THIS
CRITICAL OVERSIGHT WORK.
SERVICE YOU CAN BE HAS PRETTY
MUCH ABANDONED ITS CHARGE
SUPERVISOR FEDERAL STUDENT LOAN
MARKET. AND HIRED A FORMER
EXECUTIVE FROM ONE OF THE
NATION'S LARGEST SERVICERS AS A
STUDENT LOAN OMBUDSMAN. DESPITE
NUMEROUS COMPLAINTS LODGED
AGAINST HIS FIRM FORMER
EMPLOYER. AND UNDER BETSY TO
BOSS IS HOME THE DEPARTMENT OF
EDUCATION HAS REPEATEDLY TRIED
TO BLOCK EFFORTS THE WHOLE
SERVICES ACCOUNTABLE FOR THEIR
PRACTICES. SO THE ABSENCE OF
FEDERAL SUPERVISION IT'S
IMPERATIVE THAT STATES AN
ADVOCATE STAND IN PERFECT FARCE
FROM HER KOREAN LEGAL MARKET
PRACTICES THAT'S WHY IT'S
IMPORTANT THAT WE'RE HERE
TODAY. HAVING THIS DISCUSSION
AND- CALIFORNIA REALLY HAS THE
OPPORTUNITY TO LEAD THE NATION
BY PASSING ASSEMBLY MEMBER MARK
STONE AB THREE SEVENTY SIX- FOR
WHICH ARE YOUR TEARS BEEN. A
STRONG ADVOCATE- THIS
LEGISLATION BECAUSE SPONSORED
BY THE SB PC PROVIDES A MEANS
FOR CALIFORNIANS GREAT
PROTECTIONS FOR BARS FOR VALOR
ACTION HAS WANED- THAT'S WHY
WE'RE HERE TODAY. IS SO
IMPORTANT- IN THIS COMMITTEE
CAN REALLY HELP YOU SIMPLY
UNDERSTAND THE EFFECTS OF THIS
CRISIS. PROVIDE A FOUNDATION
FOR EVIDENCE TO JUSTIFY FURTHER
ACTION. ON THIS LEGISLATOR MUST
ACT FOR. THE TEACHERS HAVE BEEN
BY THE RIGHTS OF PUBLIC SERVICE
ON FORGIVENESS THE DISABLED
VETERANS AND THEIR RIGHTS HAVE
LOANS JUST HEART DISCHARGED.
AND ESPECIALLY THE MILLIONS OF
BARS OF COLOUR ORGANIZER STILL
RIGHT. SO I HAVE MY ORDERS. OF
OTHER CONSUMER ALL RIGHTS AND
LABOR GROUPS. ACROSS THIS
SUPPORT AB SEVENTY. ALL RIGHT.
FOR THE LAWYERS OF OUR STRONG
THE WAY TO THE START DATE AND
IN DOING SO PAVE THE WAY FOR
THE NATION TO ADDRESS THE
STUDENT DEBT CRISIS IS A THANK
YOU AGAIN FOR THE GOT. TO BE
HERE TODAY. ONE THANK YOU. AS
YOU AS YOU MENTIONED I THINK-
AS THE SENATE STANDS. AS
STUDENT BORROWER BILL BILL OF
RIGHTS IS SUCH AN IMPORTANT AND
ONE THAT I DO HAVE WILL BE
SUCCESSFUL IN TAKING. IN THE
TWENTY TWENTY CYCLE I'M- ARE
THERE OTHER SPECIFICS WHEN YOU
LOOK AT THE LANDSCAPE. AND THE
HUGE GAP THAT WE HAVE REALLY
GIVEN BY THE ACTIONS OF THE
INACTION. OF THE TRUMP
ADMINISTRATION AND ARE THERE
OTHER THINGS THAT YOU LOOK AT
AND SAY THAT IS. IT A PRIORITY
THAT WE URGENTLY NEED TO
ADDRESS NEXT YEAR. I CAN SPEAK
AT LEAST TO THE FOR PROFIT PEAS
AS I AYE FORESHADOWED A LITTLE
BIT. TWENTY TWENTY IS GOING TO
BE SUNSET REVIEW. EURO AT THAT
DOES REPRESENTS OPPORTUNITY TO
REALLY DO SOME ASSESSMENTS OF
HOW OVERSIGHT IS BEING
CONDUCTED FOR THESE VULNERABLE
COMMUNITY. WELLS WHAT
PROTECTIONS SHOULD BE IN PLACE-
I THINK THAT THIS YEAR THERE
ARE ACTUALLY I TALKED ABOUT
THREE BILLS BUT THERE WERE
OTHER BILLS THAT RELATED TO FOR
PROFIT EDUCATION- AND I THINK
THAT THOSE BILLS OFFER. A
REALLY- GOOD PLACE TO START IN
TWENTY TWENTY THERE WERE BUILT
ON OUR INCENTIVE COMPENSATION
THERE WAS. BILL ONLINE. THE
NINETY TEN FULL THERE WAS A
BILL ON THEIR TWO BILLS ON
CONVERSIONS SO- COVERT FOR
PROFITS OR OR FOR PROFITS THAT
ARE CONVERTING TO BECOME NON
PROFITS. AS WELL AS- NONPROFITS
BEING PURCHASED BY FOR PROFIT
SO- THERE ARE THOSE WERE A LOT
OF IDEAS I THINK ALSO WE
STARTED THE BALL ROLLING WE'VE
TALKED A LOT ABOUT DATING APPS
TODAY- THIRTEEN FORTY ASSEMBLY
MEMBER CHOOSE BILL STARTED TOOK
A VERY IMPORTANT FIRST STEP IN
CLOSING SOME OF THOSE DATA GAPS
BY MAKING. OUTCOMES DATA
AVAILABLE LIKE I SAY FOR THE
FIRST TIME THE STUDENTS AT FOR
PROFIT SCHOOLS I THINK THAT
THAT OPENS THE DOOR TO
POTENTIALLY LOOKING AT COULD WE
RECREATE SOMETHING LIKE THE
GAINFUL EMPLOYMENT LOVE RULE AT
THE STATE LEVEL. AND THAT WAS
ORIGINALLY PART OF THAT BILL-
AND I THINK IS A REALLY
PROMISING IDEA GOING FORWARD
COULD WE DO SOMETHING LIKE
BORROWED DEFENSE AT THE STATE
LEVEL SO THERE ARE THESE THESE
OPPORTUNITIES ESPECIALLY
BECAUSE THE FEDERAL GOVERNMENT
HAS TAKEN A STEP BACK. FOR
CALIFORNIA REALLY STEPPED
FORWARD- I THINK THOSE ARE ALL
ALL IDEAS THAT. SEE IN TWENTY
TWENTY. AND I'VE I'VE GOT MY
PERSPECTIVE I'M CURIOUS TO KNOW
YOUR PERSPECTIVE YOUR Y. HIVE
WE ENCOUNTERED IT'S LIKE YOU
SAID I THINK THAT THE FOR
PROFIT PACKAGE WAS TEN BELLS
MAY BE ALIVE AND SO. IT WAS
SEVEN OKAY. SO YOU KNOW. THREE
OF THEM THREE OF THEM MADE IT
THROW. WHY DO YOU THINK WE'VE
ENCOUNTERED. SUCH CHALLENGES
WHEN IT COMES TO REGULATING FOR
PROFIT INSTITUTIONS HERE THE
FORMULA- I THINK. IT IS- IT'S A
SEGMENT OF STUDENTS THAT HASN'T
HISTORICALLY PATRICK MENTIONED
SEILING EARLIER I THINK THAT
THAT. OFTEN WE TEND TO FOCUS ON
DIFFERENT SEGMENTS OF EDUCATION
AND HIGHER EDUCATION IN
CALIFORNIA. I AM REALLY EXCITED.
HERE MULTIPLE PEOPLE TALK. THE
RIVER SEINE. HARM THAT IS
HAPPENED STUDENTS OF FOR PROFIT
SCHOOLS I THINK THAT THERE IS-
MORE ATTENTION BEING PAID TO IT
I THINK THAT THIS WAS A BIG
YOU'D LIKE TWENTY NINETEEN WITH
A HUGE SEVEN IS A HUGE NUMBER
OF BILLS ON THIS TOPIC SO- I
THINK THERE WAS A LOT. MORE
ATTENTION PAID AND I THINK THAT
AS WE LEARN AS THOSE FOLKS
LEARN MORE ABOUT THIS ISSUE AND
BECOME MORE- INFORMED
ESPECIALLY AS WE CLOSE THE DATA
GAPS THERE WILL BE MORE.
EVIDENCE THAT CAN HELP SUPPORT
SOME OF THE POLICY POSITIONS
THAT REALLY NEED TO BE MADE. IT
HERE THAT- YEAH AND I WAS JUST
GOING TO TOUCH POINT OF THIS
EVERYTHING PIECE JUST LOOKING
AT. THE STUDENT. IS THIS
THROUGH THE LENS OF CIVIL
RIGHTS IN RELEASING THAT- LIKE
I WAS TALKING ABOUT A LOT OF
THAT IS. LOT OF THE DISPARITIES
BETWEEN BARS A COLLAR AND THEIR
WHITE PEERS BUT ALSO WHEN WE
LOOK AT SERVICING WE SEE THAT.
ARGUE BARS A COLOR ARE YOU
ROLLING AND INCOME REPAYMENT.
OF THE SAME WEIGHT RATE AS-
WHITE FARMERS AND WE KNOW THAT.
BARS HAVE MUCH BETTER OUTCOMES
WHEN THEY ARE ENROLLED IN-
INCOME RETURN PAYMENT PLANS AND
SO I WAS REALLY. LOOKING AT SIR
RESOURCES SAYING WHY ARE WE
HAVING THESE GAPS IF WE KNOW
THAT- BARS ARE MUCH. LESS
INCLINED TO DEFAULT LATEST
TWENTY TIMES LESS INCLINED TO
THE BALL WHEN. THEY'RE OLD ID
ARBOR WE'RE SEEING THAT- BAR
WAS A COLOR NEARLY AS LIKELY TO
NOT BE MAKING PAYMENTS AS THEY
ARE TO BE INVOLVED IN IT ARE
PLANNED SO. REALLY MAKING THAT
PUSH TO MAKE ME DO TO BE
LOOKING AT SERVICERS AND IN.
EXAMINING THEIR PRACTICES IN
SAYING WHAT ARE WE HAVING THESE
GAPS IS. THIS IS A CIVIL RIGHTS
ISSUE. CAN'T. WEAR MISSING IN.
PLACE TO PROTECT OUR. RIGHT
TALKS ABOUT THE FACT THAT. CAN
USE A COLOR HAVE A
DISPROPORTIONATE SHARE OF DAT.
DISPROPORTIONATE SHARE OF
DEFAULT AND END UP AS A
DISPROPORTIONATE SHARE OF THE
STUDENTS ARE ENROLLED IN THESE
FOR PROFIT INSTITUTIONS. AND WE
DID SPEAK TO THE FACT THAT IT
IN IT SEEMS THAT THAT HAS BEEN
A DELIBERATE TARGETING A
MARKETING STRATEGY. I'M ARE
THERE AND IT ALSO SEEMS AS IF
THERE ARE- HE SAID SOME
DISPARITIES IN SERVICING. CAN'T
ENTER QUINCY. ARE THERE ANY
OTHER THINGS THAT YOU THINK WE
NEED TO BE DOING FROM HIM IN
EDUCATION- COMMUNICATION
PERSPECTIVE TO TRY TO CLOSE
SOME OF THOSE GAPS. AT THE
STATE LEVEL I THINK THAT. IN
ONE IS A TWENTY SIXTEEN BUT
DON'T QUOTE ME ON THAT ARE
THERE A BIG OFFICE OF STUDENT
ASSISTANCE AND RELIEF WAS
CREATED AT THE BUREAU FOR
PRIVATE POSTSECONDARY EDUCATION
THEY HAVE IN THEIR SHORTS
TENURE THERE REALLY TRIED TO
INCREASE THE AMOUNT OF OUTREACH
THAT THEY ARE DOING THEY ARE
TRYING TO ATTEND COLLEGE FAIRS
AND- DO. MORE INFORMATION. FOR
MORE INFORMATION WITH AT
CRITICAL TIMES I THINK THAT
THAT IS REALLY IMPORTANT I ALSO
I'LL I'LL REPEAT MYSELF I THINK
THAT AS WE GET MORE DATA IF
THAT WILL BE VALUABLE NOT ONLY
TO STUDENTS BUT ALSO TO- POLICY
MAKERS AS WE AS WE DESIGN
PROGRAMS THAT HELP GUIDE
STUDENTS AND SMALL GRANTS AND
HELPFUL INTO THEIR EDUCATIONS I
THINK HAVING DATA ON OUTCOMES
AND WHAT REALLY THAT RESULTS OF
THAT EDUCATION WILL BE WILL
REALLY HELP A LOT I THINK THAT.
BECAUSE LOS DATA GINGER GENERAL.
WAITING ON THAT BUT I DO THINK
THAT IT IS IT IS A HUGE BENEFIT
TO BOTH STUDENTS AND POLICY
MAKERS- TO REALLY BE ABLE TO
ASSESS WHAT THE OUTCOMES OF
THESE PROGRAMS ARE AND THEN TO
BE ABLE TO MAKE EDUCATED AND
INFORMED DECISIONS ABOUT THE
POLICIES WE WANT TO CREATE
AROUND THEM SO THAT THAT IS ONE
PIECE FOR ME. I REALLY LOVE IT
HE SAID ABOUT THE DATA VIEWS
AND I THINK THAT'S SOMETHING
THAT'S REALLY POWERFUL THAT WE
ALSO HAVE REALLY BELIEVE THAT
THE MORE THAT WE ACTUALLY THE
SEED WE CAN SEE THAT THIS
REALLY IS A CRISIS EIGHT I KNOW
THAT WE'RE ABLE TO DO THAT. THE
RACIAL WEALTH GAP IN THIS
COUNTRY WE KNOW THAT- WHITE
HOUSEHOLDS HAVE THIRTEEN TIMES
THAT WEALTH OF BLACK ALSO IT'S
IN ABOUT 10% OF LATINO
HOUSEHOLDS AND SO WE CAN SEE
THAT THERE WAS GAPS WILL CREATE
THE ISSUES WHERE WE HAVE BARS
OF COLOUR TAKING OUT MORE THAN
THAT WE HAVE DATA ON SERVICING
OR THEY DON'T COME IN WITH
OTHER ISSUES THAT WE'RE TALKING
ABOUT TODAY BECAUSE SOMETIMES
IT WILL DISABLE- THESE ARE
DIFFERENT IS. IS YAKKING UP AS-
WE KNOW THAT. CALLING FOR. YEAH
THESE THINGS WERE STILL SAYING
ARE A GAP BETWEEN THE BARS SO
JUST REALLY RATING READER
REITERATING THE IMPORTANCE OF
HAVING DATA TO REALLY PINPOINT
WHERE THESE PROBLEMS ARE COME
BY ALSO I LOVE DATA AS WELL SO
AND IF YOU WERE IN A DATA
DRIVEN POLICY MAKING I'M BUT I
THINK THIS YET TO ME THAT YOU
YOU MENTION THE FACT THAT THERE
IS YOU KNOW THERE'S A WEALTH
AND INCOME DISPARITY THERE THAT
IMPLIES THAT A LOT OF THESE
VIEWS OF COLOR QUALIFY FOR
LOANS QUALIFY FOR PROGRAMS THAT
THEY'RE EITHER NOT AWARE RATHER
NOT APPLYING FOR. I'M IN ON THE
ONE HAND THIS FEELS LIKE A IN A
HUGE INTRACTABLE PROBLEM BUT
WHEN YOU DO THINK ABOUT THE
AMOUNT OF MONEY RELATING ON THE
TABLE BUT THE NUMBER OF TIMES
IT COMES DOWN TO PEOPLE NOT
HAVING GOOD INFORMATION I'M FOR
PROFIT IN A DECISION TENDS TO
BE A LITTLE BIT DIFFERENT BUT
MOST PEOPLE ARE MAKING A
DECISION ABOUT YOU KNOW WHAT
THEY'RE GOING TO DO FOR COLLEGE
AT A POINT IN TIME THAT WE KNOW
WHERE IT IS SO IN TERMS OF FOR
US AS POLICY MAKERS BE ABLE TO
HAVE AN EFFECTIVE INTERVENTION.
IT IS AN EASIER INTERVENTION
THAT IN SO MANY OF THE YOU KNOW
THE CHALLENGES THAT WE GRAPPLE
IT'S HAPPENING AT THE END OF
HIGH SCHOOL AND SHOULD BE ABLE
TO DO AN EFFECTIVE JOB OF
PROVIDING PEOPLE WITH EIGHT
EASY TO UNDERSTAND
COMPREHENSIVE INFORMATION OF
YOUR HERE'S WHAT YOU NEED TO DO
HERE THEY ARE FINANCIAL AID
PROGRAMS THAT ARE AVAILABLE AND
HERE'S THE- PERSON IF. I WEEK
BETTER. FOR LEASE AT. FACE I
WOULD I WOULD DEFINITELY AGREE
ESPECIALLY FOR SORT OF YOUR
TRADITIONAL COMING OUT OF HIGH
SCHOOL STUDENT- THE TRICKY PART
IS THE- OFFICE. YOUR
NONTRADITIONAL STUDENT- IT IS
IT IS MORE COMMON THAT YOU ARE
GOING TO HAVE A RETURNING
STUDENT A FIRST TIME COLLEGE
STUDENT THAT TOOK A FEW YEARS
BETWEEN HIGH SCHOOL AND COLLEGE
SINGLE PARENTS- FOSTER THAT
YOU'RE GONNA HAVE. FOR PROFITS
REALLY DO TENDS TO TARGET THE
FOLKS THAT HAVE THE LEAST
AMOUNT OF SORT OF SUPPORT-
UNFORTUNATELY AND SO- AT LEAST
THE BAD ACTORS TO AND SO. IT IS
THERE LIKE I SAY THERE ARE
THERE HAVE BEEN SOME STATS
CALIFORNIA IS TRYING TO DO
STUFF BUT THE SORRY THE OFFICES
STUDENTS. RELIEF I'M REALLY HAS
DONE A GOOD JOB OF TRYING TO
REACH STUDENTS WHERE THEY ARE
THEY'RE ALSO PARTNERING WITH-
TRYING TO DO SOME WORK ON
MILITARY BASES WHICH IS ANOTHER
BIG SEGMENT VETERANS AND ACTIVE
MILITARY ARE OFTEN ALSO- ONE OF
THOSE TARGETED DEMOGRAPHICS. SO
TRYING TO FIND WAYS TO REACH
THOSE STUDENTS ESPECIALLY THE
NONTRADITIONAL STUDENTS WHERE
THEY ARE I THINK IS ALSO GOING
TO BE REALLY CRITICAL- AND
OFTEN TOUGHER BECAUSE AS YOU
SAY THEY'RE NOT NECESSARILY ALL
WRAPPED UP. IN THE HIGH SCHOOL
AND SO IT IS. THAT IS SOMETHING
THAT I THINK WE PROBABLY COULD
BE DOING A BETTER JOB OF WHEN I
THINK I READ I DON'T KNOW IF
THIS IS AN- ACCURATE STATISTIC
BUT I READ AN ARTICLE THAT. I'M
INNOCENT. THE AVERAGE COMMUNITY
COLLEGE STUDENTS- FOUR YEAR
COLLEGE STUDENT SPENDS YEAR
MONTHS AN HOUR'S DELAY IN
RESEARCHING THAT THE DECISION
OF WHERE TO ATTEND A FOR PROFIT
COLLEGE OFTENTIMES HAPPENS IN
LIKE IT'S LIKE A MINUTE IT'S
THE UC ONE AD THEY SAY THE
RIGHT THING YOU GET THAT ONE
PHONE CALL. AND PEOPLE ARE NOT-
YOU KNOW THERE'S NOT A LOT OF
COMPARES PAYING SEVENTY THINK
THERE'S SOMETHING THAT YET
AGAIN THERE'S WAYS FOR US TO
HELP PEOPLE COMPARISON SHOP I
THINK AND INCREASED WHAT DO YOU
THINK- BECAUSE I AM HOPEFUL
THAT AND THE ROLL OUT AS OUR AG
CALIFORNIA'S FREE UNIVERSAL
COMMUNITY CALL IN AN ONLINE
COLLEGE PROGRAM WHICH IS
TARGETING THIS FOR THESE
NONTRADITIONAL STUDENTS WILL
HELP TO SORT OF YOU KNOW FILL
THAT SENSE OF UNMET NEEDS. AND
HOPEFULLY BUT- THE FIRST PLACE
PEOPLE GO UNDER ARE YOU HOPEFUL
ABOUT THAT AS A STEP FORWARD
YEAH I THINK I THINK THAT THAT
IS I'M I'M HOPEFUL FOR ANY
OPPORTUNITIES TO TRY TO GET
STUDENTS TO HAVE. ANOTHER SET
OF. YOU SAID RECRUITMENT IS A
IS A BIG PIECE OF FOR PROFIT
SCHOOLS AND SO IT IS OFTEN THAT
THEY GOT THEIR NAME THROUGH A
DATABASE OR THEY DID A GOOGLE
SEARCH AND PUT AN EMAIL ADDRESS
AND THEN THEY THEY WILL CALL
YOU THEY WILL RECRUIT YOU. AND
SO I THINK THAT ANY OPPORTUNITY
THAT WE HAVE TO HAVE ANOTHER
ONE STOP LOCATION SOMEWHERE
WHERE FOLKS KNOW TO GO AND IF
IT AT I THINK THAT EVEN THE ALL
MY COMMUNITY COLLEGE. IS AN
OPPORTUNITY FOR STUDENTS TO
CONSIDER THEIR LOCAL COMMUNITY
COLLEGE IT IS JUST IT'S ANOTHER
PLACE TO DRAW FOLKS INTO THE
COMMUNITY COLLEGES AND THE
ENSURE ELITE I DO THINK THAT
THAT IS IT'S A IT IS A VALUABLE
TOOL IN TRYING TO RE DIRECT
FOLKS TO. THE PUBLIC
INSTITUTIONS. OKAY WELL AGAIN
THANK YOU FOR BEING HERE AND
LOOK FORWARD TO WORKING WITH
YOU IN THE NEXT SESSION TO MAKE
SURE THAT THESE. THAT WE GET
THESE BILLS THERE NEXT YEAR.
AND THEN UP WITH THAT WE WILL
GO AHEAD AND OPEN IT UP FOR
PUBLIC COMMENT IF THERE'S
ANYONE WHO WOULD LIKE TO SPEAK
WITH AHEAD AND FORMALIZED
BEHIND. THAT MICROPHONE OVER
THERE. AND WE JUST ASK THE
PEOPLE. KEEP THEIR COMMENTS
ABOUT TWO MINUTES SO THAT
EVERYONE HAS A CHANCE TO SHARE
THEIR PERSPECTIVE. THANK YOU
CHAIR WOMEN. PETRIE-NORRIS
AGAIN FOR HAVING THIS HEARING
AND FOR COLLABORATING WITH A
BUNCH OF US ADVOCATES ON STERN
DECK- ON THE SCENE THAT CRISIS.
AND EVERYONE PRETENDING
SAMANTHA SAYING WITH A NEXT GEN
CALIFORNIA REAR PRAGUE CO
SPONSORS SOME OF THE SOLUTIONS
ARE MENTIONED ON AB THREE SEVEN
SIX. ASSEMBLY MEMBER MARK STONE
THIS IN BORROWER UP. BILL OF
RIGHTS. AND YOU KNOW AGAIN I
THINK AS WE HEARD TO DATE-
THESE BAR WHERE ARE AT
SEVENTEEN OR EIGHTEEN YEARS
OLD. AND ARE TAKING ON A DEBT
THAT IS GOING TO HAVE A
LIFELONG IMPACT. ON SOME
SERIOUS IMPACTS AND THEY HAVE
NO CONSUMER RATES ARE
PROTECTIONS- THE SAME WAY THAT
ANYONE WHO'S GONNA BUY A HOUSE
OR GET A CREDIT CARD. DOES SO
AGAIN THANK. AB THREE SEVEN
FIVE IS A CONSUMER PARTS SINCE
FOR BORROWERS ACROSS THE STATE
AND NEXT GEN- IS ALSO WORKING
TO PROVIDE SOME REAL TIME
SOLUTIONS FOR BORROWERS WE WERE
HAPPY TO PARTNER WITH
ORGANIZATIONS SUCH AS STUDENT
DEBT CRISIS AND OTHER GREAT
ADVOCATES- TO RIDE THAT
INFORMATION AND EDUCATION TO
BORROWERS BUT AGAIN HEARTENED
TO HEAR THAT SOME OF THE
INSTITUTION ALSO TAKING ON
CULTURE CHANGES AND DOING THEIR
PART IN- SUPPORTING STUDENTS
AND BORROWERS IN THE BEST HEY.
YOU KNOW I'M PROFIT OF OUTREACH
EDUCATION CAN ONLY GO SO FAR TO
BORROW THEMSELVES SO
INSTITUTION I THINK ALSO SHARE
LEGAL RESPONSIBILITIES SUPPORT
BY MAKE SURE THERE'S A BEST WAY
SPECIALLY BLENDERS UP IN
SIMILAR SERVICERS THESE ARE
PAID FOR BY OUR TAX DOLLARS ARE
THESE WE SHOULD BE PROVIDING
EXCELLENT QUALITY SERVICE- WITH
THAT NO. THIS SATURDAY WERE
ALSO. IT'S A REAL SPECIFIC THIS
IS. THE LA AREA A FREE MY
FUTURE A SUMMIT. EVERYTHING IS
FREE FOR BUYERS THERE YOU GET
YOUR QUESTIONS THE ANSWERS
SUPPORT SERVICES- SO CASH
GIVEAWAY PRIZES FOR SOME
IMMEDIATE RELIEF POP POSSIBLY
SO PLEASE CHECK OUT OUR WEBSITE
NEXT GEN POLICY .ORG FOR OUR
FREE ARE MY FUTURE SON. THANK
YOU. THANK YOU. HELLO GOOD. FOR
AFTERNOON- MY NAME IS A LESSON
I'M A RECENT GRADUATE FROM THE
UNIVERSITY OF CALIFORNIA DAVIS
AND I'M HERE TO PROVIDE A VERY
PERSONAL REASON AS TO WHY IT'S
CRUCIAL TO ESTABLISH. CONSUMER
PROTECTION STANDARDS FOR-
STUDENT BORROWERS WHEN I
ORIGINALLY APPLIED FOR MY
STUDENT LOANS I WAS TOLD BY MY
LOAN SERVICE PROVIDER I WOULD
HAVE TO MAKE MY FIRST PAYMENT
ON MY LOANS UNTIL SIX MONTHS
AFTER GRADUATION. THAT WOULD
HAVE BEEN NOVEMBER OF TWO
THOUSAND EIGHT. AND I OUR
POSITION AS A CALIFORNIA SENATE
FELLOW THAT'S ONE OF THIS
COUNTRY'S MOST PRESTIGIOUS UP
PROGRAMS FOR THOSE ENGAGING IN
PUBLIC SERVICE AND THE POLICY
MAKING PROCESS. IN THE
CALIFORNIA STATE CAPITOL
BUILDING. THROUGHOUT THE YEAR I
WAS OFFERED A YEAR LONG
DEFERMENT WOULD HAVE PROLONGED
MY FIRST PAYMENT TO BE DUE IN
SEPTEMBER OF TWO THOUSAND AND
NINETEEN. HOWEVER IN SEPTEMBER
I RECEIVE THIS ENVELOPE. WITH
EIGHT DIFFERENT LETTERS
INFORMING ME OF A LATE FEE THAT
HAS BEEN CHARGED TO MY ACCOUNT.
OF THE SERVICE AREA HAS LED ME
TO ALLOWING NOW HUNDREDS OF
DOLLARS IN LATE FEES. UP THAT'S
FAIR TO BE AND AS A PASSED. OLD
A BLUE GOLD OPPORTUNITY. RISK
WHICH SURE IS I NEVER TO PAY UP
WISHIN I. GET ITS FAIR I CAN
AFFORD THAT AS A D. HONOREE I
CANNOT AFFORD. AS SOMEONE WHO
CAN BARELY A FOR BREAK EVERY
MORNING CANNOT AFFORD THAT. AS
A LOW INCOME FIRST YEAR IN
COLLEGE. I'M IN OF COLOR
AFRICAN AMERICAN WOMEN I CANNOT
AFFORD THESE JUST A DOLLARS IN
LATE FEES PASSING THIS BILL IS
NOT ONLY VITAL FOR MY WELL
BEING IT'S ALSO VITAL AND
CRUCIAL FOR THE EMOTIONAL.
PHYSICAL AND PSYCHOLOGICAL WELL
BEING OF OVER FOUR MILLION
STUDENT BARS IN THE STATE OF
CALIFORNIA. I FEAR I WILL NOT
BE ABLE TO ACCESS THE PROMISE
OF A PROSPEROUS LIFE THAT
HIGHER EDUCATION HAS TO OFFER
WITHOUT THE SUPPORT IN ADVOCACY
OF AB THREE SEVENTY SIX. THIS
SITUATION IS UNFAIR HOWEVER THE
GROUPS WORKING TO AT LEVY EIGHT
THE SITUATION IN ALL I ASK IS
THAT. THOSE PEOPLE COME TO THE
TABLE AND ALLOW US TO DISCUSS
ENVELOPES LIKE THESE IN
OPPORTUNITIES TO HAVE THE LIFE
THAT OUR PARENTS ARE
COMMUNITIES HAVE SACRIFICED SO
MUCH FOR US TO GET THERE THANK
YOU. THANK YOU FOR SHARING YOUR
STORY I AGREE THAT IS
COMPLETELY UNFAIR AND I HOPE
THAT THERE ARE SOME FOLKS HERE
TODAY THAT CAN HELP YOU. ENSURE
THAT WE ADDRESS THAT SPECIFIC
ISSUE AND LIKE YOU SAID IT'S
YOU KNOW IT IS ABOUT YOUR
PERSONAL STORY IT'S ALSO ABOUT
MAKING SURE THAT EVERYONE.
WHO'S IN THAT SITUATION THAT WE
ARE PASS WE PASS AB THREE
SEVENTY SIX SO WE ENSURE THIS
DOES NOT KEEP HAPPENING TO
PEOPLE. TO THANK YOU. THANK YOU
THAT WAS AMAZING I DON'T REALLY
WANT TO FOLLOW YOU BUT I WILL
ANYWAY. SUZANNE MARTIN TELL US
IN YOUR POLICY COUNCIL CONSUMER
REPORTS- PROUD CO SPONSOR OF AB
THREE SEVEN SIX WORKING WITH A
LOT OF WONDERFUL PEOPLE IN THIS
ROOM. HOW TO TRY TO. CLEAN UP
THE MESS THAT POLICYMAKERS AT
THE NATIONAL LEVEL ON A HAVE
FORCED UPON ALL OF US AND ALSO
STUDENT BAR MYSELF AND EVEN AS
A LAWYER. WHO WORKS ON THE
STUFF FOR A LIVING I'VE HAD
LOAN SERVICERS ME OVER TO. AND
THAT TELLS YOU ALL YOU NEED TO
KNOW. RIGHT SO. YOU WE TALKED A
LOT ABOUT LIKE DATA AND COUNSEL
IT INFORMATION ALL THAT IS
WONDERFUL IT'S NECESSARY BUT IT
IS INSUFFICIENT. TO FIX THE
PROBLEM BECAUSE THE PROBLEM IS
WE HAVE PUT THE BURDEN OF
NAVIGATING THIS MORASS.
INDIVIDUAL THEIR FAMILIES. AND
THEIR PRIVATE COME. THE PROFIT
OFF OF THAT CONFUSION. THEY ARE
PROFITING. SO BIG LOAN
SERVICERS AND DEBT COLLECTORS
AND ALL OTHER MANNER PRIVATE
AFTER DEBT RELIEF COMPANIES
BECAUSE FOR THEM IN THERE TOO.
ARE THERE THEY'RE OPERATING
WITH RELATIVE IMPUNITY BECAUSE
WE DON'T HAVE. THE KINDS OF
CLEAR ENFORCEABLE CONSUMER
PROTECTION. THE PEOPLE SHOULD
HAVE SHOULD THEY BE PUT MISTER
BLASIER MORE IN ORDER TO GET
EDUCATION THEY HAVE TO CALL
WILL DO SO WE PROTECT PEOPLE
WITH MORTGAGES. PEOPLE WITH
CREDIT CARDS WE'RE NOT THE SAME
THING FOR STUDENT LOAN
BORROWERS. AND SOMEONE ADVOCATE
AND A POWER MYSELF IT MAKES ME
ANGRY. IT MAKES ME. ANGRY
BECAUSE STUDENTS. WONDERFUL
STUDENTS LIKE YOU. CORD SO. YOU
DON'T. KNOW WHAT DESERVES THAT.
SO OUR COLOR. NO HOLD THE COME.
IS A PROP. FEDERAL LOAN
PROGRAM. WOULD MAKE THEM
ACCOUNTABLE TO HAVE TO PROVIDE
COMPETENT. WELL TRAINED STAFF
TO HAVE. ACCURATE ACTIONABLE
INFORMATION IT WOULD BAN THEM
FROM TAKING ON REASONABLE
ADVANTAGE OF YOUR CONFUSION
OVER YOUR LOANS AND- ABUSIVE
PRACTICES. AND IF THEY VIOLATED
ANY THOSE PROVISIONS WE COULD
TAKE THEM TO COURT. SO THAT
BILLS HELD UP AND SENATE
APPROPRIATIONS RIGHT NOW THE
SENATE APPROPRIATIONS SHARE.
HIS DISTRICTS- SO IF ANYONE IS
INTERESTED IN GETTING INVOLVED
IN THIS BILL WITH OUR CAR
PARTNERS IN ACTION WITH THE
WEEK OF ACTION THAT WE WANT TO
MAKE SURE THAT THIS WILL GET TO
THE FINISH LINE BECAUSE STUDENT
BORROWERS CAN'T WAIT. THANK YOU
THANK YOU YES. THANK YOU
ASSEMBLY WOMAN FOR BEING HERE
TODAY- MY NAME'S CODY NANNY AND
I'M THE PROGRAM DIRECTOR AT
STUDENT DEBT CRISIS WE
REPRESENT ABOUT A MILLION
SUPPORTERS ACROSS THE COUNTRY
IMPACTED BY STUDENT DEBT- AND I
FIRST IS WANTING KNOWLEDGE ONLY
FOR START WORKING ON THIS ISSUE
GETTING A ROOM TOGETHER THIS
BIG TO TALK ABOUT THIS ISSUE
WAS IMPOSSIBLE I'M SO THIS IS A
BIG WIN JUST TO BE HERE TALKING
ABOUT TO USE IT THANKS VERY
MUCH- I HEAR EVERY DAY FROM
DOZENS OF. TO SHARE THEIR
STORIES WITH US. WHO HAVE
SIMILAR. AND HAVE HAD THEIR
LIVES TURNED UPSIDE DOWN. BY
STUDENT LOAN DEBT- THERE'S NOT
ENOUGH PUBLIC COMMENT IN THE
WORLD TO GET THROUGH THEM SO
I'LL SHARE MY PERSONAL STORY
WITH YOU- AS ONE OF THE FORTY
FIVE MILLION PEOPLE STUDENT AT-
I HAVE STUDENT LOANS. I HAVE A
TWIN BROTHER WHO ALSO HAS
STUDENT LOANS. AND IT TOOK MY
PARENTS AND GRANDPARENTS TO CO
SIGN STUDENT LOANS TO PAY FOR
EDUCATION- MY MOTHER WAS
PERMANENTLY TOTALLY APPARENTLY
DISABLED AND WAS NEVER TOLD.
THAT STUDENT LOAN. THIS WAS AN
OPTION FOR HER. MY TWIN BROTHER
A LAW ENFORCEMENT OFFICER HERE
IN THIS DISTRICT NEWS NEVER
TOLD THAT STUDENT LOAN
FORGIVENESS IS AN OPTION FOR
HIM BECAUSE HE'S A PUBLIC
SERVICE WORKER- I'VE HAD. A
THOUSANDS AN EXTRA COST BECAUSE
OF MISS COMMUNICATIONS. BETWEEN
ME AND MY STUDENT LOAN
SERVICER. SO IN MY OWN FAMILY
ALONE. ALL OF US HAVE BEEN. BY
US TO KNOWN INDUSTRY RUN AMOK
AND THAT'S WHY THE DEBT CRISIS.
I PERSONALLY- ARE STRONG
SUPPORTERS IN CO SPONSORS
STUDENT. BILL OVER. AND SO
ANYONE ENGAGED WITH. MARCUS
SPONSORS AS WELL AS NEXT IN
POLICY- THE SB PC CONSUMER
REPORTS- BUT I THINK THIS
LEGISLATION IS EXTREMELY
IMPORTANT- FOR NOW- ADVOCATES
LIKE US WILL CONTINUE TO HOST
WORKSHOPS LIKE WE'RE GONNA DO
HERE TODAY- BUT IT IS NOT
ENOUGH THESE ARE SYSTEMIC
ISSUES. THAT START WITH THE
STUDENT LOAN SERVICING
COMPANIES- AND WORK THEIR WAY
DOWN SO PLEASE CONTINUE TO
ADDRESS THIS ISSUE. THANK YOU.
HELLO MY NAME IS THE STOMACH ON
JOB I'M A FIRST YEAR
PHYSIOLOGICAL SCIENCE STUDENT
AT UCLA AND A VOLUNTEER- INTERN
WITH CALPERS STUDENTS FROM LOS
ANGELES CALIFORNIA- FOR MANY OF
US. PURSUING ANY SORT OF HIGHER
EDUCATION IS IN ITSELF A RISK.
WE TAKE ON THIS DEBT AND WE
HOPE THAT WILL GIVE US A CHANCE
FOR A BETTER FUTURE WE- JUST
HOPE. I WANT TO PURSUE A CAREER
IN MEDICINE BUT THERE ISN'T A
DAY THAT GOES BY THAT I DON'T
WORRY ABOUT HOW MUCH I'M
BURDENING MY PARENTS AND
MYSELF. WITH JUST THE COST OF
MY UNDERGRADUATE STUDIES ALONE.
AFTER THAT'LL HAVE TO TAKE OUT
EVEN MORE TO PAY FROM HEAD
SCHOOL DEBTS THAT EVEN ON A
PHYSICIAN'S PAYROLL WILL TAKE
DECADES OR EVEN MY ENTIRE
LIFETIME TO PAY ALL.
COMPOUNDING THAT STRESSES THE
REALITY THAT DIFFERENT LOAN
SERVICERS TREAT THEIR BORROWERS
VERY DIFFERENTLY. AND THAT.
THAT MIGHT MEAN PAYING MORE
OVER THE LIFETIME OF MY LOAN
JUST BECAUSE OF WHAT SERVICE
ARE I WAS ASSIGNED TO.
CURRENTLY CALIFORNIANS AND I
DON'T HAVE TO TELL YOU THIS BUT
CALIFORNIANS OVER A HUNDRED
BILLION DOLLARS A HUNDRED. IN
DOLLARS IN IN JUST STUDENT LOAN
DEBT AND- MOST OF US ARE JUST
REGULAR PEOPLE WERE NOT
FINANCIAL EXPERTS WERE NOT
LAWYERS. WE NEED STRICTER
PROTECTIONS TO MAKE SURE THAT
WE'RE TREATED FAIRLY AND WITH
DIGNITY AND NOT. HELD HOSTAGE
BY THE POWERFUL FINANCIAL
INDUSTRY SO I URGE YOU TO PASS
THE STUDENT BORROWERS THE BILL
OF RIGHTS AND TO ENCOURAGE ALL
OF OUR STATE SENATORS TO. TO
VOTE YES ON THE BILL THIS
SEASON. THANK YOU VERY MUCH FOR
YOU THANK YOU. GOOD MORNING
EVER GOING TO. GOOD MORNING.
OKAY. ASYLUM EXPERIENCED
MICROPHONES GOOD MORNING MY
NAME IS PROPERTY FRIDAY I AM
AND THE THIRTY YEAR HISTORY
MAJOR FROM UCLA I'M ORIGINALLY
FROM KINGS FOR CALIFORNIA- I
MOSTLY A FOR WHAT TAX SIX
CAMPAIGN COORDINATOR AND A
BOARD MEMBER WITH CALPERS
STUDENTS- YOU KNOW BEING A
FIRST GENERATION AND
CONSIDERING THE CENTRAL VALLEY-
PURSING MAIN HIGHER EDUCATION
AT THE NUMBER ON PUBLIC
UNIVERSITY WASN'T SOMETHING
THAT I CONSIDERED ATTAINABLE-
CONSIDER MYSELF EXTREMELY LUCKY
IN FULL TO BE RECEIVING
FINANCIALLY ON TARGET A THE
PELL GRANT. IT'S ALSO WORKS
WITH SO MUCH EASIER FOR ME TO
FIND A JOB ON CAMPUS ALLOWS ME
ACTION I'D LIKE OTHER
AFFILIATED COST LIKE TAX BOOKS
AND YOU KNOW HOUSING BUDGET
THAT MANY MY PEERS LIKE ALL
ACROSS THE STATE THEY'RE NOT SO
LUCKY ESPECIALLY MY FORMER HIGH
CLASS. COLLEGES AND LIKE OUR
PROFIT SCHOOLS THE. OWNS AN
ARCH EITHER HIGHER EDUCATION-
IN FOR STUDENTS ALREADY HAVE
LIKE ODDS STACKED AGAINST THEM
ALREADY LIKE YOU KNOW THESE
LOANS ARE NECESSARY FOR. THEM
TO LIKE ACTUALLY LIKE HAVE A
LIKE A SECURE FUTURE THAT'S A
CHANCE. AND YOU KNOW IT COMES
THAN ANTICIPATE ARREST AND
CURLY STUDENT LOAN TAPPED
IMPACTS- OVER FOUR MILLION
PEOPLE IN CALIFORNIA. AND THIS
NUMBER IS GONNA AND ACTUALLY
GROW EVERY SINGLE YEAR FOR ALL
THESE PEOPLE. THEIR DEGREE IS
GONNA PERHAPS TURN FROM LIKE A
OF OPPORTUNITY INTO YOU KNOW. A
CRUSHING DEATH SENTENCE. AND TO
PROTECT STUDENT BORROWERS ARE
WORDS I HOPE YOU URGE ALL OF
OUR STATE SENATORS TO SPUR
STUDENT LOAN BORROWERS BILL OF
RIGHTS- SO WE CAN. PURSUE OUR
EDUCATION LITTLE YOU KNOW OUR
WORRY FREE. THANK YOU. FOR.
GOOD MORNING MY NAME IS KRISTEN
MCGUIRE I'M THE OWNER I'M DOING
THE SAME THING WESTERN REGION
DIRECTOR FOR YOUNG INVINCIBLE-
AND NATIONAL POLICY AND
ADVOCACY ORGANIZATION FOR YOUNG
PEOPLE. I'M AS YOU HEARD TODAY
AS THE WAY THAT STUDENT LOANS
ARE BEING SERVICED IS NOT ONLY-
A FINANCIAL ISSUE WITH THE
SOCIAL JUSTICE ISSUE- WHERE WE
FIND LOW INCOME FAMILIES AND
BLACK FAMILIES AND LATINO
FAMILIES. OF BEING
DISPROPORTIONATELY- SERVICED
AND EFFECTIVELY- PERSONALLY- OR
WILL YOUNG MISSILES IS ALSO A
CO SPONSOR OF THIS BILL. BUT
FOR VERY PERSONAL REASON- I TOO
WAS A FIRST GENERATION COLLEGE
STUDENT. FUNNY STORY I DIDN'T
EVEN KNOW THAT- MY SINGLE
MOTHER I DON'T KNOW OUR FAMILY
WAS LOW INCOME AND SO I DID ARE
FASTER AND MY ESE WITH ZERO.
AND I SAID MOM I THINK REPORT.
IS THE LIKE I'VE BEEN TRYING TO
TELL YOU THAT- THAT THAT THE
TRUE STORY LIKE I CAN PICTURE
BEING IN OUR DINING ROOM TABLE-
BACK WHEN PASSES WERE PAPER-
BUT ANYWAY- SO BECAUSE OF THAT-
I TOOK OUT. LOANS TO HELP
FINANCE MY CAREER AT CALIFORNIA
STATE UNIVERSITY- FOUR AND A
HALF YEARS LATER I LEFT COLLEGE
GOING TWENTY FOUR THOUSAND
DOLLARS- WHICH WASN'T TOO BAD
RIGHT IT'S UNDER THE AVERAGE
EVERYTHING'S FINE. BUT BECAUSE
I WASN'T EDUCATED- PROPERLY BY
MY SERVICE THERE I DIDN'T
UNDERSTAND ALL OF THE RULES I
DIDN'T KNOW- THAT WORKING FOR
NONPROFIT APPLY DIFFERENT
BENEFITS TO ME. I'M I'M ALL
FORTY TWO THOUSAND DOLLARS AND
I HAVE BEEN OUT OF COLLEGE FOR
FIFTEEN YEARS. AND I HAVE BEEN
IN REPAYMENT IT IS THE TYPES OF
ISSUES WHEN WE'RE SAYING WE'RE
TALKING ABOUT LOW INCOME
FAMILIES AND FOR GENERATION
FAMILIES. A WHEN THE SERVICES
DON'T GIVE YOU THE INFORMATION
THAT YOU NEED PROPERLY PAY OFF.
ON A YOU CAN'T DO IT IT'S NOT
THAT WE DON'T WANT TO READ WE
ARE DEBT IT'S THAT WE'RE TRYING
TO REPAIR THAT DON'T HAVE THE
SKILLS AND THE RESOURCES TO BE
ABLE TO DO SO EFFECTIVELY. I'M
A LUCKY IN MY LATE I WAS ABLE
TO EDUCATE MY BROTHERS I WAS
ABLE TO EDUCATE COUSINS BEYOND
BEING BEHIND ME AND THEN MY
CHILDREN WILL HAVE THE SAME
ISSUES. BUT AGAIN LIKE SUZANNE
SAID IT SHOULD BE LEFT UP TO
THE INDIVIDUAL TO FIGURE THESE
THINGS OUT PASSED THIS IN
INFORMATION DOWN AND I DON'T
BELIEVE THROUGH THROUGH. LATE
TO HELP OURSELVES OUT POP. I'M
INSTEAD THAT'S WHY BILLS I AB
THREE SEVENTY SIX NEEDS
CONSERVE THROUGH. AND BE
PASSED. OR DO YOU WANT BE HALF
OF YOUR INSTABLE AT YOUR
COLLEAGUES. IN THE. THIS
OPPORTUNITY CRESCENT. I MY NAME
IS RIGHT BUT I LIST AND I AM A
UCLA I ATTEND UCLA I'M DOING MY
MASTERS IN SOCIAL WELFARE AND
PUBLIC POLICY IT'LL MASTERS-
AND- ACTUALLY I'M HERE TO SHARE
TWO THINGS. I AM ALSO A
FINANCIAL COACH AND IN MY
EXPERIENCE WITH WORKING WITH
INDIVIDUALS IN LOS ANGELES
COUNTY- I. HAVE WITNESSED IN
THE DEPARTMENT OF MENTAL HEALTH
PARTICULARLY THERE HAS BEEN- A
AT A VERY MUCH A NEED IN
ADDRESSING THE POPULATION WITH
MENTAL ILLNESS- AND BEING
TARGETS FOR THEIR SOCIAL
SECURITY INCOME. I'M SO ONE OF
MY PATIENTS WILL I WAS WORKING
WITH SHE YES I SHE ENROLLED IN
YOU YEAH I AND THEY PRACTICALLY
TOLD HER HEY. YES YOU CAN PAY
FOR COLLEGE WILL GO AHEAD TAKE
OUT LOANS AND WILL ALSO YOU
CAN. IT CAN BE SOMETHING I
THROUGH CAN PAY FOR THREE YEARS
SO. I'M IT WAS JUST AS EASY AS
THAT SIX SIGNATURE AND- THERE
SHE WAS ENROLLED NOW TODAY I
DON'T KNOW HOW SHE IS DOING
WITH THOSE STUDENT LOANS. IF
SHE HAS COMPLETED THE PROGRAM I
WAS ONLY AN INTERN AT THE TIME.
AND I COULD NOT DO MORE THAN TO
JUST ADVISER. SO THAT WAS THAT
IS A VERY PARTICULAR- NEED AND
PERHAPS A GAP IN THINGS THAT
WERE NOT CONSIDERING. I'M
ANOTHER THING AS ALSO A STUDENT
BORROWER GOING FROM SAN DIEGO
STATE TO NOW YOU SEE LATE. I
ACTUALLY WHEN I WAS MAKING THE
PAYMENTS FOR MY LOANS MY-
SERVICER DID NOT WITH GREAT
LAKES DID NOT EVEN KNOW HOW TO
CALCULATE MY INTEREST RATE- SO.
IT WHEN I WAS ASKING THEM ABOUT
HOW TO GO ABOUT MAKING THOSE
PAYMENTS OBVIOUSLY I ALREADY
KNEW THAT I NEEDED TO MAKE THE
PAYMENTS TOWARDS THE HIGHEST
INTEREST RATE BUT- THEY DID NOT
KNOW HOW TO CALCULATE DATED
EIGHT. TRYS HOW WOULD HOW WOULD
I ACCUMULATED WHAT WOULD BE MY
OUTCOME IN TWO OR THREE YEARS.
SO THAT WAS A HUGE. THAT IT
DISAPPOINTMENT I DID NOT EXPECT
THAT AT ALL BUT- I WOULDN'T BE
THE ONLY ONE. I'M IS SO TODAY I
AM HERE ALSO I AM WORKING WITH
CONSUMER REPORTS WAS IS AND I
WANT TO THANK YOU FOR THIS
OPPORTUNITY- THEY ARE ALSO. A
REACHING OUT BECAUSE WE'RE
WORKING HER MASTERS IN PUBLIC
POLICY DOING ON OUR THESIS AND-
ADVOCATING TOWARDS THE BILL OF
RIGHTS- FIRST BILL PARK RIGHT.
A ONE INTERVIEW FOLKS TO HEAR
ABOUT YOUR EXPERIENCES ASKING
BARBERS- WE REALLY. ARE UP IN
THE DATA COLLECTION SO THAT
THEY CAN FOR THESE STORIES AND
PUSH FOR THIS BILL. OKAY THANK
YOU SO MUCH. ZERO THANK YOU.
THANK YOU TO EVERYONE WHO
JOINED US TODAY ACTUALLY TO OUR
EXCELLENT PANELISTS ARE BOTH
FOR BEING HERE AND FOR ALL THE
WORK THAT YOU'RE DOING ON THIS.
REALLY CRITICAL ISSUE I THINK.
FOR ME I COME OVER WITH A
COUPLE OF TAKE WAYS I'M SO.
NUMBER ONE WE CLEARLY NEED TO
ENSURE THAT WE ARE AT DOING
MORE TO PROTECT OUR STUDENTS
ARE WORSE AND I THINK THAT
STARTS. WITH MORE EFFECTIVE
CONSUMER PROTECTION ODD. ODD
LEGISLATION AND OVERSIGHT WE
TALKED QUITE A BIT ABOUT EIGHTY
THREE SEVENTY SIX IS BEING. A
REALLY CRITICAL FIRST STEP IN
THAT JOURNEY- AND IT CERTAINLY
ONE I WILL BE ADVOCATING. FOR
NEXT SESSION ALONGSIDE SO MANY
OF YOU I'M- I THINK THE SECOND
THING THAT I TAKE AWAY FROM
THIS REALLY IS JUST- THE POINT
WE MADE IN THE FIRST PANEL THAT
WE ARE LEADING A LOT OF MONEY.
ON THE TABLE AND I THINK THAT
THERE IS. A LOT THAT WE CAN DO
IS CALIFORNIA TO ENSURE THAT
WE'RE HELPING OUR CALIFORNIA
STUDENTS. GET EVERY FEDERAL
DOLLAR THAT'S AVAILABLE AND
THAT WE PUT THAT PUT THAT TO
USE. I'M AND THEN THIRD FOR ME
IS THE NEED TO- CAN. A
CONVERSATION ON CAL GRANT TO
EXPAND AND- I'M- AS WE TALK
ABOUT IN THE- TUNNEL. I THE YOU
GROWTH AS THE CAL GRANT- AS-
CERTAINLY NOT KEPT UP WITH THE
PACE OF INFLATION AND A PIECE
OF COST OF LIVING HERE IN
CALIFORNIA. AND WE HAVE GOT TO
ADDRESS THAT SO THAT WE ENSURE
THAT. OUR STUDENTS WHO ARE HERE
TO. LEARN TAKE A DEGREE. TO
START THEIR CAREER. ULTIMATELY
ACHIEVE THAT DREAM UP. IN A
BETTER LIGHT. CAN DO THAT ARE.
NOT WORRY ABOUT WHERE THEY
SLEEP OUR HOUSE GOING HOW
THEY'RE GOING TO EAT I'M FOR
THE MONTH. USERS MIGHT BE TAKE
WAYS AND I THINK THE OTHER TECH
WAY FOR ME REALLY IS THAT. I'M
THERE'S A POWERFUL GROUP OF
ADVOCATES ASSEMBLED RIGHT HERE
IN THIS ROOM FROM SO MANY
DIFFERENT ORGANIZATIONS AND-
FROM SO MANY DIFFERENT
INSTITUTIONS AND I THINK LEX.
AND SOMEONE MADE THE POINT THAT
SEVERAL YEARS AGO. WE'RE
TALKING ABOUT. STUDENTS
COULDN'T GET. REPLACE THIS
TICKET. I THINK THAT YOU HAVE
DONE SO MUCH TO. ELEVATE THIS
CONVERSATION TO MAKE CLEAR
THAT. THIS IS A CRISIS IT'S NOT
JUST IMPACTING THE- THE
MILLIONS OF STUDENT BORROWERS
HEARING CALIFORNIA. IT HAS
RIPPLE EFFECTS ALL ACROSS THE
CALIFORNIA ECONOMY AND WE NEED
TO URGENTLY ADDRESS IT SAID
THAT WE- ENSURE THAT. OUR
STUDENTS ARE WORRIES ARE ABLE
TO. BUY HOMES THAT THEY'RE ABLE
TO START A FAMILY THAT THEY'RE
ABLE TO INVEST. IN THEIR
FUTURES AND THAT WERE ABLE TO
START TO CLOSE SOME THE
GENERATIONAL GAPS. THAT WE
TALKED ABOUT I AM IN ONE OF OUR
PANELS- BUT I HAVE TO SAY I'M
VERY ENCOURAGED BY THE GROUP OF
FOLKS THAT ARE HERE AND- I'M I
THINK THEY IT. AT YOUR ADVOCACY
IS GOING TO ENSURE THAT WERE
ABLE TO TAKE SOME REALLY.
CONCRETE AND MEANINGFUL STEPS
IN ON NEXT YEAR'S LEGISLATIVE
SESSION SO. THANK YOU FOR THAT
ON THIS CONVERSATION WILL
CERTAINLY INFORM OUR
LEGISLATIVE ACTION AS WE MOVE
FORWARD. IT IS CERTAINLY THE
BEGINNING OF A CONVERSATION AND
NOT THE AND- BUT THAT LOOK FOR
TO WORKING WITH YOU AS WE MOVE
FORWARD. THANKS SO MUCH