Estela Zuzunaga

[Estela Zuzunaga @EstelaZu]

@higheredrachel Financial aid award letters aren’t clear neither financial advisors are transparent when presenting the numbers and payment options to students and their families! Making PLUS loans seem like a reasonable affordable option, when it‘s in fact the opposite !

[Higher Ed, Not Debt @HigherEdNotDebt]

A8: Black borrowers & communities have higher debt balances. And because of systemic racism, the racial wage gap, generational poverty & more, are unable to pay off the debt. So Black borrowers have higher default rates & may experience wage garnishment, etc. #ParentPLUSDebt

[CLASP @CLASP_DC]

A8: Black and low-income parents taking out such loans face higher interest rates and less favorable repayment terms - including being ineligible for income-driven repayment. This makes it more challenging to pay down their loan balance. #ParentPLUSDebt

[Student Debt Crisis Center (SDCC) @DebtCrisisOrg]

A7: President Biden’s action is a good first step, however, we need an equitable higher ed financing system that does not disproportionately burden low-income households, Black families, & students in the South.
@GCPIEconSec #ParentPLUSDebt

https://t.co/z2E6Z5cGVA

[Estela Zuzunaga @EstelaZu]

@higheredrachel Exactly!! Four-year degrees should be affordable for all, but costs of college attendance only keep increasing

[Estela Zuzunaga @EstelaZu]

@GCPIEconSec A6: Policymakers can prioritize the needs of the most marginalized borrowers, and design policy centered in lower-income borrowers and students of color, starting with the PLUS program #ParentPLUSDebt

[Estela Zuzunaga @EstelaZu]

@ellasuchwow That's insane! and it will probably keep increasing

[Estela Zuzunaga @EstelaZu]

@GCPIEconSec A3: The 2008 economic crisis also led to fewer resources for students & rising unemployment especially for workers and families of color #ParentPLUSDebt

[Higher Ed, Not Debt @HigherEdNotDebt]

A2: One way is that Parent PLUS loans often have interest rates that are significantly higher than other loans. So borrowers from low-income backgrounds, who can't afford monthly payments, then watch their balances balloon. #ParentPLUSDebt

[The Century Foundation @TCFdotorg]

The Parent PLUS program was *originally intended* to give high-asset families flexibility in how they pay for their children’s college, so it was created w/ higher interest rates & fees to fully cover the program’s administration costs. #ParentPLUSDebt 1/

[Beamer @laura_bmw]

#ParentPLUSDebt are loans of the last resort for most students who use them. The more financially strapped a student is, especially as #higheredcosts go up, the likelihood of using #PPLUS goes up too. It means that families who need financial assistance the most are... 1/

[Student Debt Crisis Center (SDCC) @DebtCrisisOrg]

Families with low incomes already face financial barriers to accessing & completing higher ed.

Excessive fees, high interest rates, & limited repayment plans for Parent PLUS Loans further exacerbate economic hardship. #ParentPLUSDebt @GCPIEconSec

https://t.co/VkmRLp6QV3

[Estela Zuzunaga @EstelaZu]

@GCPIEconSec A2: #ParentPLUSDebt disproportionately burdens lower-income borrowers with unrepayable debt, and causes them to face ballooning interests, SS & wage garnishment, as well as tax refund withholding

[ESOI | GCPI @GCPIEconSec]

TODAY! Join us for the #ParentPLUSDebt Tweet Chat at 1 PM ET👇

[Dr. B. @BDMWilliams]

HAPPENING THIS WEEK‼️📢Join the #ParentPLUSDebt tweet chat hosted by @GCPIEconSec on Friday, 9/23 @ 1 pm ET to discuss how Parent PLUS loans regressively burden low-income households, Black families, & college students in the South with unrepayable debt.