PREVENT UH, A MASS SHOOTING. TUESDAY ON LOCAL 4 NEWS AT FIVE STREAMING ON LOCAL 4 PLUS.
WELCOME BACK, LET’S TURN TO
PRESIDENT BIDEN’S PLAN TO ERASE
BILLIONS OF DOLLARS IN COLLEGE
LOANS. COLLEGE LOAN DEBT,
ANNOUNCED THIS PAST WEEK TO SOME
WAS AN OUTRAGEOUS OUTLAY OF
TAXPAYER MONEY TO OTHERS. IT
DIDN’T GO FAR ENOUGH. THOSE IN
THE LEGAL AND CONSTITUTIONAL
WORLD WONDER WHETHER IT’S
ACTUALLY LAWFUL, VERY HAPPY TO
HAVE WITH ME. CONGRESSWOMAN
BRENDA LAWRENCE. GOOD TO HAVE
YOU BACK CONGRESSWOMAN AND CLARK
DURANT, CEO OF CORNERSTONE
EDUCATION GROUP, FORMER
PRESIDENT OF STATE SCHOOL BOARD
OF EDUCATION, BUT ALSO A NOTED
REPUBLICAN WHO RAN FOR THE U. S
SENATE BACK IN 2012. CAN YOU
BELIEVE THAT’S 10 YEARS AGO? THE
LORD. LET ME START WITH YOU
BECAUSE BEFORE WE GET INTO THE
RIGHTNESS OR WRONGNESS OF THIS,
UM IT WAS JUST LAST SUMMER THAT
SPEAKER PELOSI SAID THE
PRESIDENT COULDN’T DO THIS BY
EXECUTIVE ORDER. IT WAS GOING TO
REQUIRE CONGRESS. IS HE ON LEGAL
GROUND HERE? GOOD SOLID LEGAL
FOOTING. YES YES, HE IS. AND THE
UNDER THE DEPARTMENT OF
EDUCATION, THE HEROES ACT. HE
DOES HAVE POWER TO DO THIS AND
WE’RE ON. WE’RE IN GOOD STANDING
TO DO THIS AND YOU THINK IT’S
THE RIGHT THING TO DO? AT THIS
TIME. ABSOLUTELY WHEN YOU LOOK
AT THE CRISIS, THE NUMBER ONE
DEMOGRAPHIC OF THIS COUNTRY FOR
STUDENT DEBT ARE BLACK WOMEN.
WHEN YOU LOOK AT THOSE WHO ARE
ECONOMICALLY CHALLENGED IN
AMERICA, AND THEY WENT THROUGH
SCHOOL DID ALL THE RIGHT THINGS
THINGS AND NOW THEY’RE STRADDLED
WITH THIS DEBT THAT CAN’T BUY A
HOME THERE. THERE’S SOME OF THEM
ARE FACING BANKRUPTCY BECAUSE OF
STUDENT DEBT. THE ONE TOOL THAT
WE HAVE IN AMERICA IS EDUCATION.
TO LIFT YOU OUT OF POVERTY AND
BECAUSE YOU HAD THE COURAGE AND
THE ABILITY AND THE DEDICATION
TO GET IT. YOU ARE SUFFERING WE
ALL RESPONSIBLE FOR THE
FINANCIAL DECISIONS WE MAKE. I
MEAN, IF I GET MYSELF INTO A
INTO AN UPSIDE DOWN HOME
MORTGAGE LOAN, AREN’T I ON THE
HOOK FOR THAT, BUT DO YOU
REALIZE DE’VEON. MAJORITY OF IT
IS FROM THE INTEREST RATES WHERE
WE’RE LITERALLY PROFITING OFF
STUDENT DEBT. AND WHAT ARE WE
SUPPOSED TO BE DOING HERE?
EDUCATING OUR WORKFORCE SO WE
CAN BUILD AN ECONOMY. LET ME
BRING CLARK IN HERE, CLARK, ONE
OF THE THINGS I’VE ALWAYS
REMEMBERED ABOUT THE WAY YOU RAN
FIRST SETUP. CORNERSTONE NO
MATTER HOW MUCH A FAMILY COULD
CONTRIBUTE, OR COULDN’T YOU
WANTED EVERY EVERYBODY YOU
BELIEVED EVERYBODY NEEDED SKIN
IN THE GAME. EVERYBODY NEEDED TO
CONTRIBUTE SOMETHING. BUT SO AND
A LOT OF YOUR WORK OVER THE
YEARS HAS BEEN MAKING SURE THAT
PEOPLE WHO WERE HAD ALL KINDS OF
ECONOMIC CHALLENGES IN THEIR
LIVES. GOT AN EDUCATION. WHY
ISN’T THIS THE RIGHT PLAN? IT’S
NOT THE RIGHT PLAN. IT’S A GOOD
IDEA TO TRY TO FIND WAYS FOR ALL
PEOPLE TO BE ABLE TO GO TO
COLLEGE OR TO ADVANCE THEIR
SKILLS. NOBODY’S AGAINST THAT.
WHAT WE’VE SET UP IS A SYSTEM
WHERE THE COLLEGES CONTINUALLY
INCREASE THE COST FOR DEGREES
THAT ARE NOT VALUE. THERE’S NO
VALUE TO THEM. IF THE PRESIDENT
WANTS TO DO THIS, THE CULPRIT
ARE THE COLLEGES AND
UNIVERSITIES THAT BROUGHT KIDS
IN AH, UNDER ENORMOUS PROMISES
OF LOANS AND GRANTS AND WHATEVER
BUT THE COLLEGES NEVER TAKE
RESPONSIBILITY FOR THE OUTCOMES
. THEY NEVER TAKE RESPONSIBILITY
. DID WE CREATE VALUE HERE?
BECAUSE THE PATINA OF SAYING OH,
I WENT TO COLLEGE. I HAVE THIS
DEGREE. BUT IF IT ISN’T A DEGREE
THAT IS RELEVANT AND WORTHWHILE
, THEN ITS VALUE LESS AND THEN
WE LOAD UP THESE KIDS WITH DEBT
, AND IT’S A FRAUD NOW ON THE
LEGAL SIDE. I BEG TO DIFFER WITH
MY DEAR FRIEND. THE HEROES ACT
TO HAVE KNOWN EACH OTHER A LONG
TIME, THE HEROES ACT AND AS A
LAWYER, I WENT BACK TO LOOK AT
IT. THE HEROES ACT WAS PASSED
JUST AFTER 9 11. IT WAS PASSED
FOR VERY SPECIFIC GROUP OF
PEOPLE. IN FACT. THE GENERAL
COUNCIL OF DEPARTMENT OF
EDUCATION IN JANUARY OF LAST
YEAR, 2021 SAID. THEY DIDN’T
HAVE THE AUTHORITY TO DO IT. SO
THE DEPARTMENT’S OWN DOCUMENTS
BELIE THIS OIL. WE’RE JUST GOING
TO DO IT UNDER THE HEROES ACT
BECAUSE PEOPLE ARE WORTHY. THE
REAL CULPRIT IS THE FACT THAT
WE’RE SUBSIDIZING BAD OPTIONS
FOR KIDS AND ALL THESE COLLEGES
AND UNIVERSITIES. WE GET A
CORNERSTONE OUR KIDS GET
ACCEPTED ACROSS THE BOARD, AND
THERE’S TONS OF MONEY THAT
THEY’RE OFFERED. BUT NOT ONE
COLLEGE WILL STAND UP FOR THOSE
KIDS AND SEE THAT THEY’RE ON A
PATH OF SUCCESS SO THAT THEY CAN
HAVE VALUE FOR THE MONEY THAT
HAS BEEN SPENT. YOU TACKLE THAT
THERE BECAUSE THE SAME DAY THAT
THE PRESIDENT MADE THIS
ANNOUNCEMENT THERE WERE KIDS
FINISHING THEIR APPLICATIONS AND
SIGNING UP FOR LOANS. I DON’T
HEAR ANY. I DON’T KNOW WHAT’S
SUPPOSED TO HAPPEN. GOING
FORWARD TO CLARKS POINT ABOUT
WHETHER OR NOT THIS IS WORTH IT
. THE ANALOGY IF SOMEONE IS IN A
CAR ACCIDENT, FIRST THING YOU
HAVE TO DO IS STABILIZE THE
PATIENT. WE ARE IN AND CRISIS
WHEN IT COMES TO STUDENT LOAN
DEBT FOR THOSE WHO CAN LEAST
AFFORD IT. WE KNOW THAT THE KEY
THAT GOLDEN KEY IS A COLLEGE
EDUCATION FOR YOU TO GROW AND
EXPERIENCE THE AMERICAN DREAM.
BUT IF YOU WE MUST CONTINUE AND
I DON’T DISAGREE. COLLEGES NEED
TO BE HELD ACCOUNTABLE. THERE
NEEDS TO BE THERE NEEDS TO BE
DISCUSSIONS, DEBATES AND CHANGES
AND HOW WE’RE EDUCATING OUR
WORKFORCE. BECAUSE IF I CHARGE
YOU 10 $15,000 TO EDUCATE YOU IN
ART. ART IS SOMETHING IS VERY
IMPORTANT. BUT WILL YOU BE ABLE
TO SUSTAIN YOURSELF AND GROW
DEGREE IS NOT NECESSARILY GOING
TO BRING YOU FAIR ENOUGH, BUT
THAT IT DOESN’T THAT ALSO GO TO
THE RESPONSIBILITY OF THE
STUDENT BECAUSE YES, A COLLEGE
OFFERS ME THIS WIDE ARRAY OF
THINGS, BUT ISN’T IT UP TO ME TO
MAKE WISE CHOICES? THERE’S NO
QUESTION THE STUDENT HAS TO BEAR
RESPONSIBILITY. THEY SIGN UP AND
ALL THE REST OF IT. I WANT TO
PUT THIS IN A DIFFERENT IMAGE.
UM IF A WHOLE BUNCH OF PEOPLE
WHO DON’T HAVE COLLEGE DEGREES,
THEY LEND MONEY. TO SOMEBODY TO
BE ABLE TO GO GET SOMETHING THEY
DON’T HAVE THEIR WILLING TO LEND
THAT MONEY. THAT’S WHAT THE
TAXPAYERS THEY LEND THE MONEY.
INTEREST IS ONLY THE TIME VALUE
OF MONEY. IT’S NOT ABOUT PROFIT
NECESSARILY. IT’S ABOUT THE TIME
VALUE OF MONEY SO PEOPLE WITHOUT
COLLEGE DEGREES IN THAT, BUT
WELL, THAT’S ANOTHER
CONVERSATION. OKAY BUT SO PEOPLE
WITHOUT COLLEGE DEGREES ARE
LENDING MONEY. TO GIVE OTHERS
THIS OPPORTUNITY AND THEN AND
THEY’RE EXPECTING A RETURN.
THEY’RE WORKING THE FARM.
THEY’RE WORKING IN THE GROCERY
STORE. THEY MAY EVEN BE WORKING
AT WDIV’S, BUT THE POINT IS,
THEY EXPECT TO BE PAID BACK THEN
ALL OF A SUDDEN DAN CORE LEONE
COMES IN AND SAYS YOU’RE NOT
GOING TO GET PAID ON THAT I AM
SO THE PERSON WHO LENT THE MONEY
THE FARMER, THE SHOPKEEPER, THE
BAKER. THEY’RE OUT AND AGAIN.
HOLD ON. LET ME FINISH. THIS
POINT IS VERY IMPORTANT. THE
FLIP SIDE THAT NOBODY LOOKS AT
IS THE FEDERAL GOVERNMENT
BUDGETED THERE. THERE’S THIS
PAYBACK. YOU’RE TALKING. THE
WARDEN PEN SCHOOL CAME OUT TODAY
IT’S ALMOST $1 BILLION.01
TRILLION DOLLARS. SO YOU TALK
ABOUT FEEDING INFLATION AND
DESTROYING THE MIDDLE CLASS AND
THOSE WITH LITTLE. THIS IS WHAT
THIS IS GOING TO DO. WELL, I’M
RUNNING SHORT OF TIME. BUT SOME
WOULD SAY YOU’RE MAKING THE
PRESIDENT’S CASE BECAUSE YOU’RE
POINTING TO A BUNCH OF YOUNG
PEOPLE WHO ARE NOT EVEN YOUNG
PEOPLE ANYMORE, BUT A BUNCH OF
PEOPLE WHO’VE BEEN VICTIMIZED.
NO WHAT’S WHAT’S REALLY
HAPPENING IS I THINK THAT THE
PEOPLE WHO DO HAVE THE ABILITY
TO PAY IT BACK BECAUSE YOU WENT
TO COLLEGE. REMEMBER YOU GOT ALL
THESE PEOPLE WHO DIDN’T GO TO?
YOU DIDN’T GO TO COLLEGE AND
THIS AND THIS ACT IF YOU MAKE
OVER 125,000, YOU’RE NOT GOING
TO BE FORGIVEN. I UNDERSTAND
THAT THERE ARE A LOT OF PEOPLE
IN THAT RANGE OF 75 TO $100,000
THAT ARE LIVING COMFORTABLE
LIVES. THEY’RE DOING GREAT
THINGS. FRANKLY, I EMPLOY MANY
OF THEM. AND THEY’RE DOING GREAT
WORK. BUT THE POINT IS, IS THAT
WHERE IS THE FAIRNESS? AND MOST
IMPORTANTLY, WHERE’S THE LAW? WE
ARE A COUNTRY OF LAWS. THIS I
SAY THIS WITH AFFECTION. THIS IS
LAWLESS. BECAUSE THERE ISN’T THE
BASIS TO ALLOW THE STAND. IT’S
NOT THE HEROES CERTAINLY HEADED
FOR THE COURTS, THAT’S FOR SURE.
THANK YOU BOTH LOVE THE FACT
THAT YOU WERE BOTH HAVE LONG
TIME FRIENDS. IT WAS A VERY
CIVIL CONVERSATION. PUBLIC
SERVICE THAT’S ALLOWED FOR YOU
TO GO TO REPAY THE LOANS AS