with compounding interest. by failing to remediate and get kids caught back up in previous years we re now seeing that the toll from the pandemic is impeding kids ability and progress in the current year. although the study takes a nonpartisan tone, republicans are pointing fingers at teachers unions which helped shape pandemic policy. the two leading unions contributed more than $66 million to democratic or liberal causes in 2020. and increased democrats share of their political contributions from 97.8% that year to 99.6% in 2022, according to the independent watchdog open secrets. expectations were systemically lowered. and, as a result, kids were allowed to get bye bye doing less. that s back sliding. some districts are trying to close covid learning gaps by offering free programs, such as the summer camp in atlanta. it s a long process and this is third surgeon of recovery but we are definitely starting to see that rebound. and nwea researchers say
but when she told me about it, i just encouraged her. yes, okay, great. what do you need to do? - what marcella s daughter needed to do was take out a $46,000 loan. - i m trying to work as hard as i can. because then after she finishes, it s gonna be over $200,000. - wait a minute. marcella started out with a $46,000 loan and now it s $200,000? - most of my salary is going into paying off my student loans right now. but even with that, after four years of residency, i m gonna basically be in $50,000 more debt. - i ve talked to people where they say, i ve been paying my student loans for years. i ve been making all my payments. i ve been doing it on time. and yet, i owe more now than i did at the beginning. what is that? - that is the phenomenon of compounding interest. - okay, let s stop here for a second, because compounding interest can be pretty tricky to understand. here s what you need to know.
while most loans make you pay a small amount of interest, compounding interest charges you interest on interest, making your balance grow exponentially and quickly get out of control. - if i were the only person with student debt, i may say, you know, gosh, i really messed up here. but then when it gets to, like, 45 million people, you re like, okay, maybe this is systemic. maybe this isn t just a couple of people who made bad decisions. maybe this is actually an orchestrated scam. - i m convinced that the system was rigged to create the very crisis that we re in today. - that s when i learned about a piece of this puzzle that got very little attention but would change everything. if you could point to one thing about the student debt system, one thing you would change, what would it be? - bankruptcy. - what do you mean? - it is for all intents, impossible to discharge student loans in bankruptcy.
this process started it would not work. what he does this he gets the hopes of people who do not know better, who do not understand the branches of our government. they don t understand it comes from the legislative branch of the presidency raises it to get peoples hopes up. folks are drained and who blame someone else when this happens for this approach. david: forgive me for interrupting. in the house would have oversight. and let me say this, david, and have new deal they been looking at coming out with, let me tell you to think about this new d deal. first of all, the only thing it does the nonpayment is not given to the credit for credit reconciling. what it does, it does not stop the compounding interest. those that will not be paying what they owed, will be getting interest in compounding interest of the whole process prevents we have to get away from. that s forget her folks in a lot
A remittance that is not designated as a deposit is treated as a payment against any outstanding liability A person subjected to an assessable penalty who objects to the penalty and wants to remit a deposit must challenge the penalty in collection proceedings