The Hildreth Institute is so proud to be a sponsor of the 2021 League of United Latin American Citizens (LULAC) Virtual Summit. LULAC is the oldest Hispanic civil rights organization in the country and they have advocated for equal educational opportunities since 1929. In addition to their advocacy efforts, LULAC also has a robust scholarship fund that has supported almost 10% of the 1.1 million Hispanic students in college.
One of the issues discussed during the 2021 LULAC virtual summit is the student debt crisis. Student debt is a racial and economic justice issue, it is not an individual problem, but a societal one. As UMass Boston Chancellor Marcelo Suarez-Orozco states, student debt “is crushing their dreams.” The student debt crisis disproportionately burdens first-generation students, students of color, and students of immigrant origins – the students most likely to enroll at public universities such as Umass Boston.
In response to this issue, Chancellor Marcelo Suarez-Orozco discussed a joint initiative with the Hildreth Institute to test an innovative alternative to student debt. This alternative draws from the principles of a reverse pension system to reduce the debt burden and lower monthly payments. Students enrolled in this pilot program would have monthly payments of $50 instead of $370.
A special thank you to LULAC for hosting this summit, Chancellor Marcelo Suarez-Orozco for presenting this innovative alternative, and Maria Cardona for moderating the discussion.
Watch the entire presentation here: