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Injecting Policy into Conversations with Millenials

As we move past the midterm elections and start to focus on the Democratic Primaries, I'd like to start injecting some policy discussions into this blog.

This November, I think that young voters will vote on two issues: the war and GOP corruption/deception. It's not at all clear to me that this will continue to be the case two years from now. If Democrats take congress, they are going to need an affirmative vision for moving America forward - one that speaks to our hopes and aspirations.

So what does that look like in the context of Millenial voters?

I've said it before, and I'll say it again. I think that means having an honest conversation about affordable college education and what rising debt levels mean for students working hard to pursue the American Dream.

On that note, check this out:


More after the jump. .

The above video is part of a campaign by Campus Progress called Debt Hits Hard. Through a series of "viral" web videos (which aren't half bad), a website, and a text messaging campaign, Debt Hits Hard seeks to build public awareness about the rising costs of college, and illustrate the many ways that debt stifles opportunity for graduates and aspiring students.

Posted on YouTube and MySpace, the campaign is aimed at mobilizing young voters to take action on their own behalf.

What spurred me to post about this today was this report in the Los Angeles Times (free registration required) noting that - yet again - tuition increases in 2005 outstripped inflation, putting many students in the position of needing to take out more loans - at higher interest rates - from corporate lenders like Sallie Mae. Thousands of student will acrue larger debts becuase of this. Thousand more will forego college altogether.

Polls consistently show (PDF pp4-9) that it is a top issue for young voters, and one which they are likely to consider when casting their ballots - a better measure than asking whether or not they "care about" the issue (Can't find the link at the moment for this stat, but will track it down).

I suggest that candidates take a hard look at campaigns like this one and figure out what their message to young voters will be in the next two years.

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October 25th, 2006 2:12pm
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DEBBBBT!

Submitted by MarkRistaino on Fri, 2006-10-27 00:39.

I'm actually really impressed w/ campus progress for making these videos which are professional stylish and informative. (although I'm curious to think about who the hell cares about students delaying marriage over debt).

My favorite William Strauss calls student debt a "sweet spot" for marketing to millenials, and I have to admit I agree. With money quickly becoming the biggest divide for the upcoming generation, and student debt hitting unprecedented levels, Im surprised we don't hear more serious discussion about this issue.

Today's colleges are expensive to the point of abuse, and the media (sigh, same old story) is slow to catch on.

I don't think the "message to young voters" even matters. Any politician who even acknowledges that the Debt for Diploma system is a problem that needs fixing will probably get young voter support out of it. It's that potent an issue.

Wonks vs. Guts

Submitted by Michael Connery on Fri, 2006-10-27 09:36.

I don't know, Mark. While I agree that just talking about the issue would be a huge improvement (Kerry used to go to colleges and talk about social security or whatever the daily news cycle dictated), I have to agree with Stephen Colbert. It's not about brains, its about guts.

Policy facts are great, and its good to have those discussions, but when talking to voters, you've got to speak to their hearts. Their hopes and aspirations. That's what they'll vote on. If the last 6 years shows us anything, its that you need to speak to those concerns, not to some theoretical uber-rationalist voter/actor who is going to carefully weigh the policy nuances and vote their interests.

Talking about Sallie Mae and corporate lending will get people listening to you. Talking about how debt is killing the American Dream for thousands of Americans - by delaying marriage or purchasing a house or foregoing college - is what will get you a movement.

Predatory Lending is a key

Submitted by Fred Gooltz on Sat, 2006-10-28 23:38.

Predatory lending has been portrayed as being targeted at communities of color - but the fact is that as Campus Progress makes clear, students are a major target too.

Granted, the media doesn't pay attention to things that concern young people except for as a barometer of fads and so the growing "generation debt" and loan gouging that affects college students and recent alumni has been completely ignored.

Therefore, most Americans didn't see the full impact of these abuses during the housing boom, but now -- with home prices sliding down and interest rates moving up -- most folks are only now seeing the signs of a big problem.

The problem is being described as tens of thousands of families who have gotten into unfair deals and are now in over their heads. Yes, mortgage foreclosures are up 53 percent from last year, and they are expected to keep rising.

But this pressure and these pitfalls have been at a fever pitch for young Americans all this time with very little notice.

As it is written,

Rather than passing laws that punish consumers trying to make ends meet, we should be cracking down on the irresponsible lenders that prey upon them. Congress needs to start paying attention to the growing problem of predatory lenders.

Just like with the bankruptcy bill, we aren't seeing action on Capitol Hill because financial companies are huge campaign contributors. In 2000, one of George Bush's biggest donors was credit card giant MBNA. In 2004, it was the owner of Ameriquest's turn.

We know how to solve this problem.

We need strong legislation against predatory lending -- preventing mortgage lenders from charging excessive fees, forbidding loan "flipping" where lenders rack up fees by refinancing mortgages without benefiting borrowers, and limiting pre-payment penalties.

Predatory lending isn't the only problem for families that are working hard, paying their bills, and still struggling to get by. Short-term payday loans with excessive interest rates can quickly turn into a crushing long-term debt. Congress recently passed protections for our military men and women, but why not all families?

Add to that list of victims the millions of college students and recent alumni and then you've got yourself a movement.

Yes, Americans deserve leaders that have the backbone to stand up and do something about their concerns.

Supporting the Troops

Submitted by Michael Connery on Sun, 2006-10-29 00:43.

Add to that list of victims the millions of college students and recent alumni and then you've got yourself a movement.

Yes, Americans deserve leaders that have the backbone to stand up and do something about their concerns.

Let's not forget that this is a huge issue among military families. Our soldiers and reservists are being exploited just as much as college students.

This cuts across class lines.