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This interview is part of the “Tomorrow Lives Here” Conversation Series presented by Miami Business School.
–The head of the Bank for International Settlements, Agustín Carstens defended globalism and bashed bitcoin and other cryptocurrencies in an exclusive interview with RISE NEWS.
–Carstens is the general manager for BIS, a massive institution that is often called the “bank for the central banks”.
–Carstens was interviewed by Miami Business School Vice Dean Henrik Cronqvist.
–The former governor of Mexico’s Central Bank, Carstens has earned a reputation as being a strong skeptic of cryptocurrencies.
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–Francesca Menes is a rising star in Florida politics.
-She was recently named as the Treasurer for the Florida Democratic Party and has long been an immigration rights activist.
-Her well run campaign for Florida House District 108 has some wondering what her political future is, but she hasn’t figured that out yet.
A nine-year career and numerous accolades including the Miami Herald’s “20 Under 40 Emerging Leaders in South Florida” award, already follow 32-year-old Haitian-American activist Francesca Menes.
And after a strong but ultimately unsuccessful campaign for State Representative in District 108 last year, many in local political circles are wondering what the future is for the millennial leader.
Born to Haitian immigrants in Miami, Menes saw from a young age what public involvement can do for the causes that she cared about.
“One of the first protests that my mother took me to that I can remember was when the coup happened in Haiti for Aristide,” Menes said in an interview with RISE NEWS. “Fifty-Fourth street was shut down with hundreds and thousands of Haitians, who were basically singing in the street ‘democracy, democracy for Haiti.’”
Growing up in Miami, though, Menes remembers not interacting with other groups besides her fellow Haitian-Americans.
She said that Miami, despite being a melting pot of many cultures, is still segregated — Cuban-Americans are in Little Havana and Haitian-Americans are in Little Haiti.
That’s something she has always tried to change.
First at Edison Senior High School in Miami, and after her family moved to Kansas City, the Central Classical Greek and Computers Unlimited Magnet High School, Menes was involved in debate and remembers learning about and debating many different issues.
“That is what helped solidified me in many ways was seeing how we can debate both sides of an issue, and actually try to push something for our communities,” Menes said.
That appreciation for debate continued at Florida International University where Menes became involved in on-campus progressive groups.
The child of Haitian immigrants, Menes views the issue as a calling for herself.
“Being in college, I was part of that radical feminist group that just wanted to shut everything down,” Menes said. “We weren’t happy with the way FIU was operating, how they were completely out of loop, and how conservative the university was.”
After graduating from FIU in 2008 with a Bachelor’s degree in political science and women’s studies with a minor in philosophy, Menes served two years through AmeriCorps in the Public Allies program at Catalyst Miami, which according to Menes’ website “focuses on developing the next generation of leaders who are committed to long-term social change.”
Immigration law and enforcement is now an issue at the forefront of American public discourse, and President Donald Trump has made it one of his priorities.
The Trump Administration recently announced that it would be ending Temporary Protected Status for nearly 60,000 Haitians who currently live in the United States.
That means that those people will either have to fix their immigration status by July 2019 or risk deportation.
The child of Haitian immigrants, Menes views the issue as a calling for herself.
She has worked as the Policy and Advocacy Director for the Florida Immigration Coalition for multiple years. In that role, she helped push the state legislature to grant in-state tuition to undocumented immigrants.
Menes has certainly caught the eye of more established members of the Haitian-American political firmament.
“It is always amazing to me because, and I saw this working in Tallahassee, there is this conservative wing that is like ‘small government is better.’ And the more power that is at the local level the better,” Menes said. “What I learned over time is that it benefits them. If you are going to protect your communities and we [the Trump Administration] don’t like the way you are going to protect them, we are going to take away the ways to protect them, and that is basically what Trump attempted to do even though it was challenged over and over in the courts.”
While she may sound like a candidate, Menes is currently not considering running for office.
Menes said that it was members of her community who pushed her to run in 2016 for the Florida House of Representatives in District 108 (an area that includes Little Haiti, Liberty City, Miami Shores, and large parts of North Miami).
She ultimately lost to Roy Hardemon in the seven-way Democratic primary.
In the aftermath of her strong electoral showing and the decimation of the Florida Democratic Party in 2016, Menes was picked to be the Treasurer for the state party.
“At the moment I do not have a yes or no answer [whether or not I am going to run for office again] because when I decided to run it wasn’t me it was a community that asked me to run, and I had that support system behind me to know that I wasn’t going into this alone,” Menes said.
But Menes has certainly caught the eye of more established members of the Haitian-American political firmament.
Marleine Bastien, the executive director of FANM, whose mission, according to their website is to “empower Haitian women and their families socially, politically and facilitate their adjustments to South Florida,” recommended Menes for the Miami Herald’s “20 Under 40 Emerging Leaders in South Florida” because of her hard work and dedication to helping all immigrants.
“Her work has benefited immigrants in general, especially what she had done at FLIC,” Bastien said in a piece published by the Herald. “Anti-immigration laws have been defeated in Tallahassee because of her no nonsense leadership, and hard work. ”
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The dramatic and sudden closing of all ITT Technical Institute campuses earlier this month left 40,000 students and 8,000 employees wondering what’s going to happen to them in the future.
The good news is debt incurred by ITT Tech students will likely be forgiven.
The bad news is that the credits they earned may not be transferable.
Plus, because of ITT’s reputation, it’s embarrassing for current students and even former graduates to list it on their resume.
What’s more is the closures could lead to a housing crisis for some veterans who were receiving housing allowances. The list of potential problems goes on and on.
As a for-profit school, ITT Tech was not accredited by the Higher Learning Commission, which requires certain standards from its schools.
ITT Tech had 130 campuses in 38 states. Thirty percent of ITT students nationwide are veterans.
The Higher Learning Commission will not allow regionally accredited schools to accept credits from for-profit schools that are not regionally accredited, like ITT, for example.
Why did this happen?
A week before ITT closed its doors, the government banned the school from enrolling new students receiving federal aid. ITT relies on federal grants and loans from students for the majority of its revenue. ITT pulled the plug on operations as a result.
However, the Department of Education has been worried about the college for several years.
ITT was facing lawsuits and federal/state investigations from the Consumer Financial Protection Bureau and the U.S. Securities Exchange Commission.
The last straw happened last month when the college’s accreditor (Accrediting Council for Independent Colleges and Schools) said that ITT was not in compliance and “unlikely to become in compliance” with its criteria.
Today’s postsecondary environment is in a constant state of flux and adapting to the changes is an opportunity for institutions to adapt to and succeed in the current climate, writes Jay Halfond, the former dean and professor at Boston University Metropolitan College.
Unfortunately, it isn’t happening on every level.
“For-profits pray for someone in the White House who will protect their federal source of funds and ignore their (own) accountability,” Halfond wrote.
In 2014, Time magazine ranked ITT Technical Institute No. 2 on its list of “The 5 Colleges That Leave the Most Students Crippled By Debt”.
Among ITT Tech graduates with loans due in 2011, 22% had defaulted by 2014.
The for-profit University of Phoenix had a lower default rate by percentage – 19% at Phoenix vs. ITT Tech’s 22%.
But the total number of students in default from Phoenix was much higher – 45,123 Phoenix students versus 11,260 ITT Tech students.
The death of for-profit schools will likely continue which gives other institutions like online colleges with hearty programs the opportunity to absorb some of that business.
A prime example of a school that saved itself from closure is Regis College in Boston. Regis was once a small, private, all-women’s college. They opened their doors to men in 2002, which helped the school thrive. Another move that helped saved the brick and mortar school is when Regis expanded their nursing program into the online realm.
Online options could be a way for former ITT tech students to re-enroll in school without having to move.
A list of career colleges and trade schools that have formed agreements with ITT to make it easier for students to transfer credits can be found here.
There are two main options for the ITT students left in a lurch.
They can transfer credits to another school with a comparable program, but those students won’t be eligible for federal student loan forgiveness.
If they choose to cancel their loans instead, anyone enrolled at the time or withdrew within 120 days of the school’s closure has the legal right to have their federal loans forgiven under a “closed-school discharge” agreement.
The problem with that route is that students must start all over if they want to further their education.
U.S. Secretary of Education John B. King Jr. has warned students to steer clear of companies offering to help in exchange for money.
Applying for any form of loan forgiveness is free.
The future of for-profit colleges
Enrollment in for-profit colleges is declining.
DeVry University said the number of students taking classes is down 23% this year and the University of Phoenix is down 22%.
Harder government scrutiny is one of the reasons.
Other major players will start to shut their doors if they don’t change the way they do business, which is one of the reasons DeVry is trying to differentiate itself.
A few days ago, DeVry Education Group announced it will voluntarily limit the amount of federal revenue it receives back to the 1992-98 federal ratio.
Today the rule requires for-profits to receive at least 10% of their revenue from nonfederal sources, and DeVry plans to increase it to 15%.
Regulatory scrutiny is not going away. Here’s another interesting thing to follow: The Accrediting Council for Independent Colleges and Schools (ACICS) is the organization that accredited ITT Tech and said they were fed up with the school’s noncompliance issues.
But ACICS may be terminated real soon as recommended by a federal panel, according to Inside Higher Ed.
“When we see schools provide extremely poor outcomes for students – or even commit fraud – while maintaining accreditation, that is a black mark on the entire field,” said Ted Mitchell, the under-secretary of education in the Inside Higher Ed article.
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Cover Photo Credit: ITT Tech/ Facebook
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NBA hall of famer Kareem Abdul-Jabbar gave one of the most pointed speeches of the Democratic National Convention.
Unfortunately for him, his speech wasn’t pointed enough to pop all the balloons that dropped on the convention floor after Hillary Clinton’s speech.
Kareem Abdul-Jabbar just hates balloons.
Democratic New York Delegate and Mayor of Ithaca Svante Myrick took some photos of Abdul-Jabbar looking angered by the balloons and put them on his Facebook page.
The photos caused a stir online with nearly 1,000 people “liking” them.
Poor Kareem Abdul-Jabbar.
All he wanted to do was make fun of Donald Trump and show off his very good speaking abilities.
Instead, he had to wage war with his old nemesis- latex balloons.
At least the night started out well.
RISE NEWS is a grassroots journalism news organization that is working to change the way young people become informed and engaged in public affairs. You can write for us.Photo Credits: Svante Myrick/ FacebookPost Views: 305
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