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Why Is College So Expensive That it Drowns Millions in Debt?
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https://ia601501.us.archive.org/9/items/2022-08-30-RUWS/2022_08_30_Devin_Fergus.mp3Download: mp3 (Duration: 23:37)
FEATURING DEVIN FERGUS - President Joe Biden last week announced a plan to forgive a portion of federal college loan debt for millions of Americans. In a speech from the White House, he explained that the Department of Education would “forgive $10,000 in outstanding federal student loans” and that Pell Grant recipients would “have their debt reduced [by] $20,000.” Only those making less than $125,000 a year would qualify for the relief.
Given that the average student debt is nearly $30,000, this certainly does not erase the burden that so many Americans carry with them. Biden’s plan is expected to erase only a tiny sliver of the $1.75 trillion that is owed on student loans.
How did higher education become so expensive in the first place that millions of Americans are burdened by student debt?
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By Rising Up With Sonali
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Listen to story:
https://ia601501.us.archive.org/9/items/2022-08-30-RUWS/2022_08_30_Devin_Fergus.mp3Download: mp3 (Duration: 23:37)
FEATURING DEVIN FERGUS - President Joe Biden last week announced a plan to forgive a portion of federal college loan debt for millions of Americans. In a speech from the White House, he explained that the Department of Education would “forgive $10,000 in outstanding federal student loans” and that Pell Grant recipients would “have their debt reduced [by] $20,000.” Only those making less than $125,000 a year would qualify for the relief.
Given that the average student debt is nearly $30,000, this certainly does not erase the burden that so many Americans carry with them. Biden’s plan is expected to erase only a tiny sliver of the $1.75 trillion that is owed on student loans.
How did higher education become so expensive in the first place that millions of Americans are burdened by student debt?
This post is for subscribers only
Subscribe now
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