Providence program to pay student loans up to $ 25,000 for teachers of color
- The Rhode Island Foundation has announced a program to recruit new teachers of color over the next five years.
- The program includes an incentive of up to $ 25,000 in student loan repayments for new teachers.
- The program has raised $ 3.1 million and aims to hire teachers in the city of Providence.
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To bridge the diversity gap between students and teachers at Providence, the Rhode Island Foundation on Monday announced a new program to recruit new teachers of color – with student loan repayment as a perk.
The Rhode Island Foundation said in a press release that it had raised $ 3.1 million to increase the number of teachers of color in public schools in Providence. Students of color make up 80% of the district’s enrollments while only 20% of teachers are minority groups, the statement said, and this new program plans to recruit more than 125 teachers of color over the next five years with up to $ 25,000 for students. repayment of the loan as an incentive.
“The benefits of a diverse faculty are well documented. Students can be inspired in new ways when their classrooms include role models that resemble them,” said Neil D. Steinberg, president and CEO of the foundation, in a press release. “Research confirms that when taught by a teacher of color, students of color score higher on reading and math tests, higher graduation rates, lower drop-out rates and discipline and an increase in enrollment in advanced courses.
To be eligible for the program, full-time teachers must be new hires and identify as black, Asian, native, Latino or multiracial, the statement said. If eligible, new teachers can receive up to $ 6,000 of their student debt repaid after one year of teaching, up to an additional $ 8,500 after completing a second year, and up to $ 10,500 after completing a third year of teaching.
Current teachers are not eligible for the program.
Insider previously reported that the burden of student debt falls disproportionately on people of color. Last week, 36 civil rights organizations called on President Joe Biden to write off $ 50,000 in student debt per person to help alleviate racial disparities that have left borrowers “on the brink of financial devastation.”
“Canceling student debt will help black and brown borrowers build wealth and keep our economy moving forward as millions of Americans will be able to start families, buy homes and start small companies, ”said organizations, including the National Association for the Advancement of Colored People (NAACP) and the American Civil Liberties Union (ACLU), said.
The organizations noted that upon graduation, black borrowers typically owe 50% more than white borrowers, and four years later, black borrowers owe 100% more. The cancellation of $ 50,000 per borrower would wipe out student debt for 75% of all federal borrowers, including full forgiveness for 85% of black borrowers and 96% of Latino borrowers in the lowest income quintile.
Biden has yet to write off $ 50,000 in student debt per person, but has asked the Department of Justice and the Department of Education to review his ability to use executive powers to do so.