What's Happening In Your World

Obama Accused of Hurting Black Families by Denying them Access to Student Loans

sdopsdopopsdopsdBy Staff Blogger

In his piece, “Obama administration delivers ‘a nasty surprise’ to black college students, parents,” Courtland Milloy of the Washington Post brings to light something that the mainstream press is ignoring.

Milloy writes that Blacks are being disproportionately denied student loans, yet no one is seriously addressing the implications.   In his article, he writes:

“We’re getting calls and e-mails from parents, at least two and three a day, saying the denial of their student loans is a disaster,” said Johnny Taylor, president of the Washington-based Thurgood Marshall College Fund. “You have black students from low-income households about to enter college or already there and pressing towards graduation, persisting just as Obama urged them to do, only to have his administration pull the rug out from under them.”

The parents of African-American students are being denied loans because of blemished credit history. In essence, without these loans to help offset the growing costs of a college education, some students will have to sit out a semester or longer until their parents ’credit can be repaired and/or other means of funding can be secured.  In essence, some potential students will have to defer their dreams of a college education.

Denying students an education based on their parents’ poor credit history just perpetuates educational disparities.  A point that Milloy goes on to argue in his article:

“In the past year, for historically black colleges and universities (HCBU), the Obama administration’s policies have led to a 36 percent drop in the volume of parent loans. That translated into an annual cut of more than $150 million.

The reason, according to Education Secretary Arne Duncan, is to prevent parents from taking on too much debt — which is as patronizing as it is hypocritical. In April, Obama announced that he was pushing to make more home loans available to people with weak credit.

He says it’s part of an effort to improve the economy, as if having an educated workforce is not.”

As Milloy points out in his piece, the bottom line is that the loan rules need to be reviewed. In a country that prides itself on second chances and meritocracy, should students really be punished for their parents’ credit scores and (lack of) credit worthiness?

* Email
 First Name
 Last Name
  * = Required Field
 
Email Marketing You Can Trust

17 comments

  1. Hi I am so delighted I found your webpage, I really found you by mistake, while I was looking on Yahoo for something else,
    Regardless I am here now and would just
    like to say kudos for a marvelous post and a all round exciting blog (I also love the
    theme/design), I don’t have time to read it all at the
    moment but I have book-marked it and also added in your RSS
    feeds, so when I have time I will be back to read much more, Please
    do keep up the superb job.

  2. Black People

    Why do we continue to carry the mulatto class? Whites and other non-blacks are in love with Obama and his tribe. My patience for the half-black crowd is dead…Nada! They’re born traitors, always have been. Why we continue to deal with them is a mystery to me. Real black people should ignore them.

  3. Derrick been telling y’all this O’Drama is faker then a 4 Dollar bill no doubt! Invest in Muhammad’s Economic plan it’s all we got now!!!

  4. I will only Support Black Businesses Whenever I get back Home F this Dude He only cares about Rich crackers & Rap Niggas! Not Hip Hop Black Owned & Operated Music Businesses,I keep telling you RapSlaves Gay-Z had Biggie & Tupac Bumped off & He took crackers & Slaveminded Negroes to Cuba to Spy on Assata our Sister in Cuba I don’t like Him or His Sell-out Family! I don’t even listen to none of this Braindead BS no More! It only show’s you how the Government has been conspiring against us Blackfolks since the jump so O’Drama doing something Against us is nothing New We should have seen it coming! He kept talking about change until these Satanic Jews & other crackers got in his Ear then We got a swift kick in the Ass From the Land of the Free & Home of the Slave! Same ole same We kill us & nobody cares about us being beat up or Killed poor Trayvon & Rodney it’s American as Apple Pie Kill your self & Let these cracker’s off the Hook & put us on it! Our Mental is screwed up With a White Spook God like Teddy used to Sing “I think you better let it go” that White Jesus or Fake God that Don’t Help us! Let that White God Go & your Free simple as that & your Free simple as that!

  5. This mulatto cut $85 million dollars to Black colleges, but gave caucasoid schools MORE MONEY for their caucasoid students to take advantage of because most of the students are foreigners!

    THEY GO TO SCHOOL FOR FREE, WHILE OUR CHILDREN SUFFER FROM GETTING IN SCHOOLS!

    This mulatto ain’t shyt on a stick! He loves crackers, gays, bankers, and HATES Black people!

    WHAT MORE PROOF DO Y’ALL NEED TO SEE THROUGH THIS WORTHLESS MULATTO?

  6. President Obama was against raising the student loan interest rates and making it more difficult for students to get loans. It was the representatives elected for Congress that insisted on raising the rates and loan requirements. So to blame President Obama does not make any sense. If you voted for the people that are now in Congress or didn’t vote at all, blame yourself! Same with the Voting Rights Act being attacked, President Obama did not send that issue to the Supreme Court, it was the Republican representatives in Congress, and it was the Supreme Court judges, including Clarence Thomas that voted to eliminate portions of the Voting Rights Act, which includes allowing the states to create their own rules concerning citizens’ voting rights and what they do at the polls. So again, blame the Congressmen that actually created the problem not the President of the U. S. He is just one man, and never in history has one man changed anything wrong. This is the climate of the country as a whole!

  7. Good read and good comments. But folks have to realize that “NO” government in the world is to be trusted no matter who they are or what color their skin. All governments around the world are full of shit and that includes President Obama and his admin…I don’t understand why grown ass men and women continue to ignore HISTORY!!!!!!!

  8. Juandero, I don’t “hate it when a Black person tell the truth” about anything. Fortunately, I’m intelligent enough to know that we don’t all think the same things nor do we like all the same things. Thusly, people are entitled to their opinions. The fact that you don’t like President Obama doesn’t make you any more enlightened or attuned to the sufferings of the masses than anyone else. It’s very interesting to me that folk who’ve been making poor choices and bad decisions for decades suddenly feel like one person should pose a solution for every crackpot dumb choice they made. Cut the bullshit and step up to the plate. Fight your own damn fight. It’s a lesson my parents taught us in grade school.

  9. Blacks can start credit unions. We have the money but we spend it foolishly. Those who are waiting on Obama or any other President to correct that situation should not hold their breath.

  10. Black people shouted when this man was elected, now they are going to shout when his terms is over, i for one will be so dam glad when he is gone.

    • I realize the military isn’t for everyone but, while serving I took college classes in the evening right outside of the base. Once discharged the cost of tuition, books and lab fees were waived. And, when employers see my military experience on my resume the job is mine.

  11. Obama is the President for the 2% indorsed by the 1% who caters to gays and illeagles how trample on the decendents of the builders of the infrastructure of this country. BLACKS, why is it that every race that comes into this country don’t worry about credit, education, money and damn sho don’t worry about incarsiration or being deported. SMDH REPAIR THE DAMAGE DONE BY SLAVERY, JIM CROM THE JUST US SYSTEM. REPARATIONS WOULD GIVE US THE TOOLS NEEDED TO COMPETE. BUT NOBODY WANTS US TO COMPETE, BECAUSE WE ALWAYS WIN WHENEVER WE ARE ALLOWED to COMPETE. REPARATIONS: Payment to repair damages done to one race by another race. Who were slaves? Who benefitted from slavery? CASE CLOSED

  12. SEAN FROM BROOKLYN

    O(BOMB)A DOESN’T LIKE BLACK PEOPLE.
    .
    . MOVE ALONG AND CREATE YOUR OWN, THAT IS WHAT I AM TRYING TO DO.
    .
    WITH OUT ANY HELP FROM THE GOV’T OR SUPPORT FROM BLACK/AFRO AMERICANS.
    .
    . THAT IS THE WAY IT IS AND SO CALLED BLACK LEADERS DO NOT WANT TO HELP.

  13. SEAN FROM BROOKLYN

    O(BOMB) DOESN’T LIKE BLACK PEOPLE.
    .
    . MOVE ALONG AND CREATE YOUR OWN, THAT IS WHAT I AM TRYING TO DO.
    .
    WITH OUT ANY HELP FROM THE GOV’T OR SUPPORT FROM BLACK/AFRO AMERICANS.
    .
    . THAT IS THE WAY IT IS AND SO CALLED BLACK LEADERS DO NOT WANT TO HELP.

  14. How in hell is being denied a loan due to bad credit racist or the fault of President Obama?! There is positively no limit to how low some folk will go in order to blame someone else for their unsavory behavior. I understand completely that sometimes things happen and through no fault of their own people lose jobs and fall behind on their finances, but you certainly can’t place the blame on another person. Folk, own up to your shortcomings and take the necessary steps to repair your credit. Like most folk, you’ll probably have to stick it out and it’s a tedious process, however, handing out loans indiscriminately is not the solution.

    • You are an Obama supporter, aren’t you? I bet you hate it when a black person tell the truth about Obama. Listen he doesn’t gives a damn about us and never will!!!! Obama is white people’s President, not ours. Why do you think he ignore everything that even involve Black people. You are a sucker for even suggesting that we be blame for your useless President’s inaction towards Black America.

* Email
 First Name
 Last Name
  * = Required Field
 
Email Marketing You Can Trust
Get Your Free Copy of the Black American Money Ebook
Get It Now