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Phil Murphy swears in as 56th NJ governor at inauguration Christian Zapata Correspondent
Yesterday, residents of the Garden State watched as former Goldman Sachs executive Phil Murphy swore in as New Jersey’s 56th governor. The inaugural ceremony was held at 11 a.m. in the Patriots Theatre at the War Memorial in Trenton. Murphy was inaugurated and delivered his first words as New Jersey’s newest governor at approximately noon. Murphy, who is a member of the Democratic party, succeeded former Gov. Chris Christie, a Republican who served eight years in office and focused on mending New Jersey’s addiction crisis, according to the Wall Street Journal. His opening remarks praised Christie’s work and those who served before him — looking to continue their efforts to improve life for New Jersey residents, according to NJ Advance Media. Unlike Christie, who had conservative views on taxes, opposed marijuana legalization and fought with labor unions, Murphy has promised to raise taxes on millionaires, legalize recreational marijuana and ally himself with unions, according to WNYC. Much of Murphy’s speech focused on big ideas that benefit New Jersey’s 9 million residents such as better job opportunities, a stronger economy and opportunities for all people. “At this time, with the challenges facing our state and its people, our leadership and vision must once again align. For too long, too much has been done only for the shor t-term and only
from self-interest,” he said. “The long-term common good, along with our confidence and optimism about what we can achieve, has suf fered.” An increase in worker minimum wages to $15 hourly, equal pay for women and stronger gun control laws are a few of the policies Murphy mentioned throughout his speech. He did not mention his work to fix NJ Transit and rarely mentioned New Jersey’s high property taxes, according to the Wall Street Journal. Alongside Murphy, Sheila Oliver was sworn in as lieutenant governor and will serve as commissioner of the state’s Department of Community Affairs, which oversees local government management and finance, the recovery from superstorm Sandy, housing and community development. Oliver is the first Black woman elected to a statewide office and follows her work as the first Black woman to serve as speaker of New Jersey’s Assembly. “I recognize that while these moments are historic, we make history not in the moment but in what we do with it,” she said. In his first act as governor, Murphy signed an executive order that prohibits state employers from asking applicants about their salary histories when they apply for state jobs, an act previously vetoed by Christie. Murphy neared the end of his speech and said, “we can do this if we reject the urge to think small, but instead accept the need to do big things that will benefit ever yone who calls New Jersey home — today and tomorrow.”
Gov. Phil Murphy (D-N.J.) plans to focus on big ideas for the Garden State — pushing legislation which lowers taxes for middle-class citizens, legalizing recreational marijuana and increasing worker minimum wages to $15 an hour. DIMITRI RODRIGUEZ / PHOTO EDITOR / OCTOBER 2017
U. offers finance education to mitigate student loan defaults Ryan Stiesi Staff Writer
Dr. Barbara O’Neill teaches personal finance and says that the way students use mobile apps creates a disconnect between the money in their wallets and the moment on their phones. TWITTER
From students to professors and administrators alike, most people can relate to the tight hold that increased tuition and overall inflation has on spending. Last year, The Daily Targum reported that in-state tuition at Rutgers ranked among the highest in the country, while the University’s student loan default rate and the percentage of the school’s borrowers who enter repayment on loans during a given fiscal year were among the lowest at 3.3 percent in 2014, according to the U.S. Department of Education’s database. Students who defaulted, or failed to repay their loans in 2014 contributed to the national rate of 11.5 percent, according to the U.S.
Department of Education. Rutgers offers students resources like personal finance classes and actions from the Office of Financial Aid to help mitigate student default rates and teach responsible spending. “I think students and families generally have become more knowledgeable after the financial crisis in 2008,” Jean McDonald-Rash, University director of financial aid said. “I think just the cost of education, the responsibility of student loan borrowing has been more public and more visible and I think parents and students generally have taken notice.” The Office of Financial Aid is required to conduct entrance interviews for students the first time they take out loans and then an exit interview when they are graduating, she said.
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Rash said that the office is working on aggregating student loan totals to give students an idea of what a monthly payment looks like, rather than just talking about a larger lump sum. “When you say ‘well you borrow $20,000’ — when you’ve never borrowed before — thinking about what that means monthly is not easy to do,” she said. Additional features on the financial aid website include tools and resources about paying back student loans and financial responsibility on campus. Nicole Chasan, public relations specialist with the Office of Financial Aid, said that the office had the idea to start using blog posts so that students can better understand See defaults on Page 4