“Let me give a specific example, and that is student loan debt. Right now in America, African-Americans are more likely to borrow money to go to college, borrow more money while they’re in college, and have a harder time paying that debt off after they get out. Today in America, a new study came out, 20 years out, whites who borrowed money, 94 percent of them have paid off their student loan debt, 5 percent of African-Americans have paid it off.Sen. Elizabeth Warren
I believe that means everyone on this stage should be embracing student loan debt forgiveness. It will help close the black-white wealth gap. Let’s do something tangible and real to make change in this country.”
20 November 2019 Democratic Presidential Debate
1.) If George Wallace or Lester Maddox aficionados had said this these words would have been adduced as absolute proof of their racism. Warren has told us here, by way of some study she does not name, that student blacks, unlike student whites, don’t pay off their debts. Sen. Fauxohontas portrayed blacks, at least when it comes to student loans, as irresponsible deadbeats who are more likely to borrow money and less likely to pay it back. This is called the sin of noticing and this is more than enough to be labeled a “racist.” Yet, because Sen. Fauxohontas desires to redistribute wealth to the minority community, Sen. Fauxohontas gets a pass.
2.) Were the debt on the loans forgiven as Warren desires this would be tantamount to a form of “reparations.” Yet, it is doubtful that it would be recognized as such and even if Warren were to implement this the chant and demand for reparations would be louder than ever.
3.) In a sane world, with statistics like this, blacks would be required to provide more collateral for student loans, or, failing that, would be turned down more often for student loans, since the statistics reveal that loaning money for student loans to black “would be” students is a bad investment. This, of course, would mean, fewer black college students and fewer (unqualified) black professionals. Because of the diminution of blacks in colleges and the white collar professions loaning agencies will NEVER quit giving out loans to black “would be” students even though the loaning agencies know, by why of the statistical input, that those loans will never be repaid. It is better to make bad investments then to be thought of as “racist.”
Maybe Sen. Warren will release the unnamed statistics which she anonymously cites.