WILL BIDEN PAY YOUR STUDENT LOAN?
By DR. GLENN MOLLETTE
The average college debt among student loan borrowers in America is $32,731, according to the Federal Reserve. The majority of borrowers have between $25,000 and $50,000 outstanding in student loan debt. There is an increasing number of student loan borrowers who owe in excess of $100,000. Some, who have spent many years in graduate schools may owe closer to $200,000.
Overall, Americans owe over $1.71 trillion in student loan debt, spread out among about 44.7 million borrowers.
Senate leader Chuck Schumer of New York, along with Sen. Elizabeth Warren, D-Mass., and other Democrats have put forward a resolution calling on President Joe Biden to forgive $50,000 in student debt. The plan would cancel all of the debt for 80% of federal student loan borrowers.
President Joe Biden campaigned on a platform that included changes for higher education as well as relief for student loan borrowers. On Biden's first day in office, he extended the student loan payment pause through Sept. 30, 2021.
President Biden officials, on Jan. 8, reiterated the President's support for Congress to "immediately" cancel $10,000 of federal student loan debt per person as part of Covid-19 relief. That could wipe out debt completely for nearly 15 million borrowers who owe $10,000 or less, according to federal data. The majority of student loan borrowers (roughly 67%) have more than $10,000 in debt.
On February 19th, a group of 17 state Attorney Generals called on Biden to forgive $50,000 in federal student loans per borrower through executive action. The group asserted Biden has the authority to do so under the Higher Education Act.
If you have federal student loan debt you are surely hopeful. Who wouldn’t want to have $10,000 to $50,000 of student debt eliminated? However, is this fair for the millions of Americans who spent many years working hard, repaying their loans? What about all the parents who helped their children through school? They worked hard. Do all of America’s graduates and parents receive checks – with interest? Is it fair to penalize the people who worked, scrapped and struggled? Essentially, we are asking the same hard working people who paid for their education to pay for everyone else's education.
The majority of Americans who paid their way through school and paid off all their debt the hard way are not sympathetic to simply waving away the same college debt for others that they worked hard to pay off.
Colleges are much of the problem. For years public Universities have financially lived way beyond their means. Auburn University, Alabama, recently fired head football coach Gus Malzahn and paid him $21.45 million in contract buyout.
Students are poorly advised by high school and college counselors. You will almost never be able to pay back a $50,000 student loan working as a cashier at a fast food restaurant. College students need to look at the earning power of their degree. Professions that pay bigger salaries are worth more the college cost and debt if necessary.
Consider going to a community college your first two years. Federal Pell grants are currently $6,495 a year and may cover almost all the cost of your first two years. You typically don’t have to pay these back. Therefore, the government is already doing a lot.
If your career pursuit pays a reasonable living then consider a going to a University that has a more reasonable tuition cost. And, don’t count on somebody else to pay your loan. However, who knows for sure, maybe Biden will.
Glenn Mollette, Washington, D.C.
MARCH MADNESS – WOULD YOU LIKE TO COACH?
Dr. GLENN MOLLETTE
Have you ever thought changing jobs? Have you ever aspired to be a college basketball coach? Now is a great time to get your resume together.
John Calipari is the University of Kentucky men’s basketball coach. His pay this year is over $8 million. He has a lifetime contract worth 86 million dollars. In the eyes of the basketball world the UK basketball coaching job has been one of the most desired jobs in college sports. However, big pay doesn’t come easy Calipari has led Kentucky to one NCAA Championship, four final fours and he has had 26 twenty-win game seasons throughout his career. Although this year his 9 wins and 16 losses hasn’t gone over too well with many of Kentucky’s fans
While Calipari is the highest paid college basketball coach there are others who do very well. Mike Krzyzewski of Duke will earn $7 million this season. Jay Wright of Villanova will earn $6 million. Chris Beard of Texas Tech is scheduled to earn $5,050.000. Rick Barnes of Tennessee will earn $4,950.000. Roy Williams of North Carolina will earn up to $4 million. Tom Izzo of Michigan State will earn $3,984.000. And, the list goes on. Chris Mack, Louisville, $4 million. Brad Underwood, Illinois, $4 million. Larry Krystkowiak, Utah, $3,961.519. Bob Huggins, West Virginia $4,050.000. UCLA coach Mike Cronin $3,600.000. Scott Drew of Baylor $3,350,000. There are 50-60 college coaches making $2 million a year but it does drop for many others. Kyle Smith of Washington State makes $1.4 million. Steve Alford for Nevada is making $500,000. Johnny Jones of Texas Southern will be paid $250,000.
Rick Pitino who came back from coaching professional basketball in Greece will earn just over $1 million dollars at Iona. This is a far cry from the $70 million-dollar contract he had with the Boston Celtics. His package had also reached over $5 million per year before he left Louisville.
The list of coaches is too long to name them all with many more making between $1 million to over $2 million per year. There are many, many coaches making much smaller salaries.
The point is if you are looking for a career change you might consider college basketball coaching. Brad Stevens wanted to be a coach. He went to Butler in Indiana to be a volunteer in the Bulldog’s program. He became the assistant coach and then a very successful head coach. Butler moved him from free to over $1 million per year by the time he left. Today he now makes over $3.6 million per year as the head coach of the Boston Celtics. Not bad for starting out as a volunteer. So, find a job waiting tables to feed yourself. Volunteer for a good basketball program. Work very hard. Earn yourself an assistant’s job and you might end up coaching a great basketball program and making several million a year.
Glenn Mollette, Washington, D.C.
Apple, Rabbi Dr. Raymond, Jerusalem, Israel,
Berg, Rabbi Steven, Los Angeles, California
Mollette, Glenn, Washington, D.C., contributing columnist
Reuben, Liz editor
Sackett, Shmuel, contributing columnist
Sattath, Rabbi Noa, Jerusalem, Israel, contributing columnist
Schwartz, Richard, PhD, Staten Island, New York,
Veltmeyer, James Dr., La Jolla, California, contributing columnist
The Jewish Observer Los Angeles holds itself harmless from any and all representations made in this opinion/editorial section. The paper does not necessarily agree with all or any opinions or editorials published. Freedom of speech is a Constitutional right which entitles every voice to be heard in a civil manner. This paper does not publish language of bigotry, hatred, racism and any other vile aspects of English language to defame, hurt or harm another person via publication. It aims to abide by the tenants of Judaism.
JEWISH LEADERS DECRY ICC INVESTIGATION
By ARTHUR STARK
"We strongly object to the decision by the out-going International Criminal Court (ICC) prosecutor to begin an investigation in cases brought by the Palestinian Authority. The ICC’s effort to intrude into matters outside its mandate undermine its credibility and legitimacy, and cast significant doubt on its future as an unbiased judicial forum.
It is irrefutable that the ICC does not have jurisdiction in any dispute between the State of Israel and the Palestinian Authority. As an interim governing body, and not a state, the Palestinian Authority does not have standing before the ICC and therefore cannot bring cases for it to adjudicate. For the ICC to claim otherwise reflects the demonstrated anti-Israel bias of out-going Chief Prosecutor Fatou Bensouda, who is seeking to use the ICC to single out the Jewish State for discriminatory treatment. Her zealousness in pursuing this endeavor is underscored by the fact that her successor, Karim Khan, will take her place in June. Bensouda’s insistence on denying Khan the opportunity to make this decision clearly shows that she is politically motivated and unfit to serve in a role that is meant to be neutral.
By continuing these efforts to weaponize a judicial institution for political purposes, the Palestinian Authority inflames existing tensions and obstructs the path to peace. The only solution to the Israeli-Palestinian conflict is direct, bilateral negotiations between the two parties involved. We call on the international community to speak out in forceful objection to this disgraceful action by the ICC.”
New York, NY
THE BEST IS YET TO COME
By JAKE PICKERING
For once, I agree with that demented dimwit Donald Trump. Do what diabolical Donald says, you fake “Christian” conservative Kool-Aid drinkers. Defund the Republican Party! Send all of your money to deranged Donald Trump, right now, so that your asinine anti-Christ Trump can buy a new country club to hide out in.
When the fine folks of South Florida finally descend upon tacky Mar-a-Lago with lit torches and pointy pitchforks in hand (which is sure to happen soon after the full truth of what traitor Trump unsuccessfully attempted on January 6th is revealed to all in Trump’s upcoming criminal trial), Don the con is going to need a new golf course to cheat on - and a new wife to cheat on once Melania divorces him!
So send your money now to be converted into Scarface-sized mounds of cocaine to be deposited in full up Donald Trump, Jr. and Kimberly Guilfoyle’s noses. “The best is yet to come!!!”
Jake Pickering, Arcata, CA, USA
PUSHING TO MAKE D.C. A STATE
The 712,000 people who call Washington, D.C. home are just like any other Americans. From teachers and nurses to firefighters and custodians, Washingtonians raise families, pay taxes, and fight in America’s wars. Yet, they’re deprived of full representation in Congress and are subject to the politically-motivated whims of lawmakers like Ted Cruz because of the capital’s status as a district. But we can change that by making the District of Columbia a state.
With statehood, D.C. would be able to respond to the will of its people and enact policies that reflect the wants and needs of its residents. As a state, D.C. would finally have equal voting representation in Congress, and control over their own laws and budgets. This way, conservative lawmakers can’t force their archaic positions on abortion access, gun reform, or health care onto residents who didn’t elect them.
No matter where you live, all Americans have the right to full representation and having their voices heard. Statehood for Washington, D.C. is about treating all American citizens fairly and as equals -- and that’s why I’m urging my senators to support D.C. statehood.
Marna Shulberg, Sherman Oaks, CA
Paul Beck, Sherman Oaks, CA
3 HOURS & 19 MINUTES
By JAKE PICKERING
U.S. Army Lieutenant General Charles Flynn needs to be arrested immediately for facilitating the right-wing domestic terrorist attack on the U.S. Capitol on January 6th. Flynn is an accessory to the murder of Capitol police officer Brian Sicknick.
Charles Flynn is the younger brother of convicted felon Michael Flynn, who was National Security Adviser for Vladimir Putin’s puppet Donald Trump.
3 hours and 19 minutes went by before traitor Trump’s intransigent Pentagon (publicly shamed by the television news networks during disapproving live coverage) was finally forced to send National Guard troops in response to pro-Trump terrorists.
Cop-killing conservatives like Charles Flynn belong in prison, not in uniform! Flynn should already be incarcerated awaiting trial on charges of sedition and facilitating the capital murder of a police officer at the U.S. Capitol.
There will be no presidential pardon this time for this fascist Flynn brother. Lock Flynn up!
Jake Pickering, Arcata, CA, USA
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2-8 Nissan, 5781 March 15-21, 2021 -- THE JEWISH OBSERVER, LOS ANGELES--645th Web Ed.