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Discussion on unpaid student balances and potential relief programs

1:18:47

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Council Member Dinowitz inquires about the number of students with unpaid balances and the potential cost of relieving these debts. Eli Dvorkin from the Center for Urban Future responds to these questions.

CUNY reported 8,700 students have balances of $2,000 or less
Dvorkin suggests a threshold of $1,000 for debt relief but doesn't have exact cost estimates
The total cost for relieving debts up to $2,000 could be up to $16.4 million
Dvorkin emphasizes the need for more precise data from CUNY for accurate estimates

Eric Dinowitz

1:18:47

I I want to ask, during the testimony, CUNY gave numbers that said about eight eight point seven million people, 8.2, eight point seven million people.

1:18:58

I'm sorry.

1:18:58

8,700 students have, current students have balances of $2,000 or less.

1:19:06

And so, like, at most, that would be, like, $17,400,000.

1:19:14

You you cite a thousand dollars as this sort of threshold of like, if it's less than a thousand dollars, you know, let's let's relieve that that pressure on the students.

1:19:24

Do you have a cost estimate for that?

Eli Dvorkin

1:19:26

No.

1:19:26

We weren't sure.

1:19:27

In fact, we we did ask CUNY for that data.

1:19:29

We weren't able to get it in time for publication of our report.

1:19:33

So I think CUNY is in the best position to provide those estimates.

1:19:36

You know, we heard quite a lot from advisors both at CUNY colleges and nonprofit CBO partners about many examples of specific students who stopped out owing about a thousand dollars or a little less as as you actually just heard on that first panel.

1:19:51

But certainly with additional funding, you know, the city could help more students.

1:19:55

So, I mean, I was certainly struck by that 8,200, I believe, vice chancellor Sarmiento said that owe 2,000 or less.

1:20:01

Certainly, heard examples of thousands of students anecdotally that owe around a thousand or less.

1:20:07

But to get those exact figures, they they would have to come from CUNY.

Eric Dinowitz

1:20:10

I just looked up 8,200 and they said 2,000 or less, so that's 16,400,000.

1:20:20

But that's, you know, again, just for those students that know 2,000 or less.

1:20:23

Again, with your numbers or once they get us more data, number's obviously less because it's 2,000 or less.

1:20:31

Right.

1:20:31

Yeah.

1:20:32

Exactly.

1:20:32

Reminds me of when I taught inequalities in algebra classes.

1:20:35

This would have been a great one for them.

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