As the new school year gets underway, here are some troubling facts about student debt: minority and low-income students are borrowing at higher rates to attend college, and they're more likely to become indebted dropouts than their white and wealthier peers.
"While college is commonly regarded as a key tool to move up the economic ladder, we have created a system based almost entirely on acquiring debt to get ahead, with no regard to how it would impact different communities," report author and Demos senior policy analyst Mark Huelsman said in a statement. "This system is essentially pushing students of color and low-income students even farther down the ladder, adding an additional level of risk that previous generations did not take on when paying for college, and saddling them with additional disadvantages as they enter the workforce."
A recent analysis shows 3.2 million women would become newly eligible for time-and-a-half pay under the Obama administration's new overtime proposal. Women of color and single mothers would be impacted the most by the proposed overtime policy, according to the research.
Most Illinois homeless service providers have already had, or will soon be forced, to deny assistance to people at-risk of or experiencing homelessness because of the budget impasse, shows a new survey by housing advocacy groups.
As President Barack Obama's immigration orders remain on hold while the issue works its way through the courts, a recent analysis by the Center for American Progress (CAP) shows that the pending immigration directives could help grow Illinois' economy by an estimated $14 billion over 10 years.
Signed in November, Obama's executive orders on immigration seek to expand the Deferred Action for Childhood Arrivals (DACA) initiative and create a new Deferred Action for Parental Accountability (DAPA) program.
The two new immigration programs are being challenged in court by a group of 26 mostly Republican-run states. A federal judge in Texas issued a temporary injunction as part of that case in February that blocked Obama's immigration directives from taking effect until the issue is resolved in court. The Obama administration, which was unsuccessful in getting an emergency stay of that February injunction, is currently appealing the Texas judge's decision.
That's the organization that sets accounting and financial reporting standards for U.S. states and localities.
Under GASB's "tax abatement disclosures" rule released in mid-August, state and local governments will have to disclose how much revenue they lose as part of income, property and sales tax breaks, including those designed for economic development purposes.
GASB said its new rule, the first of its kind, will make it easier to determine the impacts of tax abatement programs on a government's fiscal condition and ability to raise revenue.
"This new guidance will result in people who use governmental financial statements having access to essential information about the tax abatements governments enter into," said GASB Chair David Vaudt. "Not only will this mean that they'll have access to information that will allow them to better assess a government's financial health, but it will also make the impact of these agreements much more apparent."