Skip to main content

Wall Street, Marine vet mayor shakes things up

DAVID PORTER
Associated Press

JERSEY CITY, N.J. (AP) — A young, energetic urban mayor reshapes the political landscape and spurs talk of higher office. Six or seven years ago in New Jersey, that description would have applied to Newark Mayor Cory Booker. Now it describes Steven Fulop, the ex-Marine and ex-Wall Streeter who has shaken up the status quo in Jersey City and fueled speculation about larger ambitions.

The comparisons between Fulop and Booker, New Jersey’s junior U.S. senator, can run to the fanciful. Booker was dubbed a “rock star” mayor for his national media profile; Fulop was portrayed as a rock star in a New York Observer piece that featured a drawing of him as Bruce Springsteen from the “Born In The USA” album cover. (A framed print hangs in Fulop’s conference room.)

“They’re both young, kind of hip but also kind of dorky in a cute way,” said Montclair University political scientist Brigid Harrison. “Stylistically they are a bit different; I think of Steve being very comfortable in one-on-one situations, almost like a Bill Clinton-esque policy wonk, in tune with what’s going on on the ground. I haven’t seen him engage in the lofty rhetoric we’ve heard from Booker.”

Perhaps tellingly, the Clintons have played a role in Fulop’s ascension. Fulop supported Hillary Clinton for president in 2008, and Bill Clinton headlined a Fulop fundraiser last December. The downside: President Barack Obama made a rare foray into local politics last year and supported two-term Mayor Jerramiah Healy, an old-school machine politician.

Fulop had made a name for himself as a thorn in Healy’s side on the City Council. He defeated him soundly last year to take over a city of 250,000 that has been called “New York’s sixth borough” for its proximity to lower Manhattan and concentration of young urban professionals. Wall Street firms, including Fulop’s former employer — Goldman Sachs — have offices in shiny, new buildings on the banks of the Hudson River.

Fulop says that during Healy’s two terms, philanthropic money gravitated toward Newark and Booker’s star power. With Booker in Washington, that pendulum may be starting to swing the other way.

“Because of Cory, Jersey City was a no-fly zone, meaning it was Newark and New York and everybody kind of bypassed us,” he said. “I think there’s a good opportunity now to leverage the private sector to do some good things for the city.”

Like Booker during his seven-plus years as mayor, Fulop has drawn criticism from people who feel he has one eye on governing and one eye on his next job. He is frequently mentioned as a possible gubernatorial candidate, a fact that he has accepted along with the inevitable questions that he parries with a practiced ease.

“If I told you that I don’t think about anything other than this job, you won’t believe me,” he said. “If I told you I think about it sometimes, all the time, some derivative of that, I’m doing a disservice to my job. That’s a no-win answer for me and I think people can appreciate that. That said, a lot of this stuff is based on timing and circumstances, so it’s really hard to predict.”

Fulop’s first year as mayor has been anything but uneventful. He has demoted the city’s police chief, sued the powerful Port Authority of New York and New Jersey for $400 million in what he claims are unpaid property taxes, and changed tax rules to shift development from the more affluent waterfront to the Journal Square area.

He has also jousted with the board of education over leasing space for new pre-K centers and challenged the gun lobby with new rules for gun manufacturers seeking city contracts.

Not everyone has been thrilled. Councilman Richard Boggiano said Fulop has paid too much attention to large-scale development projects at the expense of more mundane issues such as dirty streets, potholes and snow removal. He also criticized Fulop’s push to consolidate the city’s authorities.

“I would like to see a stop to the antagonizing of the Department of Public Works, the Jersey City Incinerator Authority, the parking authority,” he said. “These are all people who live in the city and work here. You can’t change everything overnight. You have four years, but unfortunately it seems like he’s already running for governor.”

Fulop seems unconcerned at the possibility that his reach may occasionally exceed his grasp.

“The nature of public office today is that mayors have an opportunity to shape the dialogue more than they have in the last 20 years,” he said. “Jersey City being part of that conversation, which I think we have been, we’re punching above our weight, which I think is a good thing for the city.”

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story