Was lower interest rates the best path to a great fairer, more effective student loan system? On the rhetoric heard inside Congress as well as on brand new strategy trail, the clear answer is apparently “sure.” However, both empirical research and financial idea show that minimizing attract prices is an outspoken, ineffective, and high priced device to own broadening schooling and reducing mortgage defaults.

In place of government aid, let originated from an effective patchwork away from area communities

In the event the pandemic were only available in , Mariana Gonzalez didn’t know if she would be able to remain new Mountain View house where she got stayed together spouse and children for more than a decade.

Gonzalez features lived-in the city just like the 1999, and her spouse, Lorenzo Villanueva, keeps once the 1986. They are among the an incredible number of undocumented immigrants residing in the fresh new You which, instead of a green cards or work charge, do not be eligible for unemployment masters. Without a legitimate Public Safeguards number, they were not permitted receive the aid of government COVID-19 monetary rescue packages.

Throughout the course of the fresh pandemic, the couple in addition to their a couple U.S.-created sons, Miguel and you will Francisco, features made use of local groups to have assistance with rent [...]