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Detailed text transcripts for TV channel - MSNBC - 20131206:03:10:00

most similar countries when you think about it, which is why i think for black americans in this country, we have this living memory of apartheid. i came of age in the owe 08s and '90s and i remember conversations in my house with friends and especially in college we had just missed the divestment movement on college campuses. >> explain what that means. there was movements for colleges with endowments invested in certain companies to divest any companies doing business in south africa. and this went on for years. >> this was the student movement of the 1980s. college students successfully -- they won. they successfully got their colleges to divest their investments in any companies that were doing business with south africa. so we have the student divestment on the one hand but let's also give props to the congressional black caucus.

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Detailed text transcripts for TV channel - MSNBC - 20131206:06:10:00

and i can tell with your students, they don't remember apartheid. they're all too young to remember apartheid. what do columbia students and students everywhere need to know about it? >> they need to know a few things. in some ways apartheid in south africa and in the united states are the major places that ended up being democracies in the world we're actually the most similar countries when you think about it which is why i think for black americans in this country, we have their living memory of apartheid. i came of age in the '80s and '90s, and i remember conversations with friends and especially in college, we had just moved the divestment movement. >> there was a big movement for colleges with endowments that were invested in various companies to divest any stocks that were doing business in south africa. that went on for years. >> as joy said, this was the student movement of the 1980s.

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Detailed text transcripts for TV channel - MSNBC - 20131117:16:03:00

whether originally a distinct race or made distinct by time and circumstance, are inferior to the whites by the endowments of both body and mind." "among the romans, emancipation required but one effort, that the slave when made three may mix, without staining the blood of his master. but with us a second is necessary, unknown to history. when freed, he is to be removed beyond the reach of mixture." in the late 19th century after reconstruction, we saw that enshrined in the lines of the jim crow south, underlying the supreme court's doctrine of separate but equal in its plessey v. ferguson decision was a notion of so blackness that it must be kept in separate spaces. in 1924, virginia passed the racial integrity act, which forbade interracial marriage

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Detailed text transcripts for TV channel - MSNBC - 20131026:18:35:00

school commits to? >> that's a good question because colleges can be need-blind, meaning that they make all of their admissions decisions without considering how much a student can pay. but there's only really a very small number of colleges that can afford to then meet all of the financial need of the students they do accept. so you can have tuition and, say, full cost of attendance of $50,000 and you have the family can pay $20,000 and there's another $20,000 in financial aid. some colleges will leave that extra $10,000 as a gap. and the student will have to then decide to go to another place or decide to take on debt. but there are just -- the colleges with large endowments as jeremy mentioned, the colleges that really have the money to say, we'll let in anyone who's qualified and we'll fully support them financially. >> jeremy, what's been the reaction like on campus? what's the reaction been like and what's been the reaction from other colleges in general? >> well, on campus we've been

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Detailed text transcripts for TV channel - MSNBC - 20130831:15:45:00

proposal. if it's tied to federal support, my university, your university, they're going to opt out am so the point, because they don't really need the federal money. they have huge, billion-dollar endowments. so if they don't want the ratings or they don't want to be rated, they'll just opt out, and that's not containing costs for students. >> yeah, well, tulane doesn't, but -- tulane wishes it had an endowment of that size. but that said, it is true that some of the most vulnerable universities and colleges, those who actually take some of the students from your sixth grade, you know, class, are the ones that may be most hit by this. we were looking at historically black college and university dwrau graduation rates. at the top, they are as good as any elite university in terms of their rates of graduation. spellman, 79%. howard, 64%. hampton, up over 54. but when you go down to the bottom, the bottom five, they actually really are quite abysmal. down to 10%, 16% graduation rates. what that suggests to me is we

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Detailed text transcripts for TV channel - MSNBC - 20130822:15:55:00

does it sound like the president has sound ideas about bringing down the cost of college in this country. >> he talked about the overall economic crisis. that's a critical part of what has increased tuitions. what's happened is tuition has had to carry a larger portion of paying for school because endowments were hit so very hard, for private universities and state universities cut so much funding to state colleges since 2008. that's been tough on universities overall. i was, however, very concerned about part of what the president said towards the end where he talked about moving students through school much more quickly and relying increasingly on online education. those thare things that most college professors would indicate are probably not good ideas. they might be cost-containing in the short term but in the long term they generate additional problems. you get through school sooner but send 19 and 20-year-olds into a job market that is

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Detailed text transcripts for TV channel - MSNBC - 20130707:14:53:00

hbcus, where the endowments are much smaller. our kids may make it through the first semester, they be coming home. in the past that was an excuse but now it's for real. >> you might start with a scholarship that covers, say, 80% of tuition. then the next year when tuition rises, now all of a sudden that gap rises and that gap rises each time. >> one of the most well-known black colleges, actually we have a number of students there. what happened was they said that they give out a freshman package. the freshman package is more robust than the sophomore package. what happens is they get the grades, they do what they need to do and end up back home. >> that feels to me -- you graduated from an hbcu. at this moment there's an argument do we need historically black college. if they go away, what difference does it make, we're integrated, post racial, go off to flan, doesn't matter if we have the other kids. make the claim why we still ned

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Your Money-20130622-13:44:00

of debtors who won't have the ability to spend to buy a house, to buy a car, to move forward? that's going to reshape the economy. >> absolutely. you know, i've been saying this, you've been saying this for a long, long time, graduating students into debt and no jobs. but these economic cycles unfortunately take a while to unwind. and what we're seeing now is colleges competing for students offering more aid out of their endowments, cutting prices, cutting offerings to be sensible about how they spend resources. i just can't paint the pictures so negatively because we never know what's around the corner. in the apartment '80s a great f opec oil embargo for the beginning of the decade we thought we had a heartland recession. who knew the internet and technology would bring us tremendous growth and productivity. as you look forward, we don't know what the next thing is around the bend but one thing is, cheap energy. america's about to be awash in oil. that could change everything, the components into growth.

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Detailed text transcripts for TV channel - MSNBC - 20130519:15:38:00

lost their retirement in the crash or the great recession. there's a stress level as well among the baby boomers that's been, i feel like been transmitted to younger folks. >> andy, in terms of institutions, that also matters. because the baby boomers, that age cohort ought to be the ones who in part are subsidizing college education, right? part of what's happened is the reduction in endowments for private universities that occurred as a result of the stock market crash. but also state universities who have substantially had to reduce their or substantially increase their tuition because state governments are not giving them what they once gave even though it's much cheaper for a family to pay a marginally higher tax rate and support college than to pay more in college tuition, right? i'm wondering, as a representative of the institution, how you find yourself as your own kind of sandwich generation, baby boomers not having the resources to give to support institutions but institutions needing more to support the millenials. >> i think that the whole idea

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Detailed text transcripts for TV channel - MSNBC - 20130510:00:48:00

that means it will be nine times higher than the amount charged to the big financial institutions. that's bad economically and, frankly, i think it's bad morally. i don't think it's the right place for us to be. this bill says, hey, same deal for our students and for the banks. >> let me ask you one more question about the gap between funding that increasing increasingly -- what you're talking about are direct student loans, loans the government makes directly to students. that is covering a smaller and smaller percentage of students' tuition as the gaps do up and the gap in between is increasingly made by a company called sallie mae itself benefitting from all kinds of subsidies from the federal government. is that something we should be looking into? there's a poll showing how universities themselves with stock in their endowments are benefitting off the back that sallie mae is making record profits. >> i don't want to kid anybody.

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