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You don't give away that much money without changing the places and institutions and people you give it to, sometimes for the worse. Zuckerberg should already know this. In 2010, he donated $100 million to the Newark Public Schools on a promise from Cory Booker that he could, according to Dale Russakoff's The Prize , "flip a whole city."
The student loan debt crisis arose after legislative changes over the years that create a system of largely unchecked lending to millions of students, according to a reporter and author of a new book.
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On May 19, 2019, during his 2019 commencement speech at Morehouse College, a historically Black college in Atlanta, Georgia, Smith said he would pay off the entire student loan debt of the 2019 Morehouse College graduating class of 396 students, a reported $34M in student loan debt, including the debt incurred by parents and guardians.
Student loans are funded with the same crowd-funding approach, and typically students have 1–3 years to pay back their loans. In 2014, the education offerings on Kiva expanded greatly when the organization began a deeper partnership with Vittana . [ 26 ]
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[10]: 241 In the article Stiglitz spoke of the damaging impact of economic inequality involving 1% of the U.S. population owning a large portion of economic wealth in the country, while 99% of the population hold much less economic wealth than the richest 1%: [I]n our democracy, 1% of the people take nearly a quarter of the nation's income …
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