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Listen "S2E2: Biden Is Forgiving Some Student Loans - history of why student loan programs were designed as a financial product"
Episode Synopsis
Prof. Shermer tells us how student loans were designed as a financial product, rather than a guarantee for higher education. This history, she explains, has made all the financial difference to students, their families and our country, and has created the current crisis.
As of the production of this podcast episode, America's student debt burden stood at $1.73 trillion! Do the math, and you'll note that this figure is not an insignificant percentage of our GDP. While this debt keeps on climbing, no one in government is really rushing to fix the problem. And here is something intriguing: this is a decades-old problem. That's right! As Professor Shermer tells it, complaints about student debts were voiced as far back as 50 years ago. As the complaints became more vocal in the 1990s, the Clinton Administration almost embarked on major changes to our student debt system. But as politics go, it was not to be! Blazing voices of students during the Occupy Movement in the Great Recession brought national news coverage to the debt crisis. Regardless, student debt and its burden have continued climbing unabated.
Professor Elizabeth T. Shermer, Loyola University Chicago, is the author of Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt (also available on Amazon). In this episode, she explains how we got here.
I hope you enjoy this episode and gain some perspective about our country's student debt crisis.
Adel Host of ThePeel.news podcast
U.S. Economy Series: click for more episodes
SUPPORT: To continue our free podcast program, we depend on our listeners’ support. So please click this link https://anchor.fm/the-peel-news/support and join our other supporters in the news peeler community. Thank you.
🎵 attribution, links and license for the theme music in this podcast is below: The Success by Keys of Moon | https://soundcloud.com/keysofmoonMusic promoted by https://www.free-stock-music.com Attribution 4.0 International (CC BY 4.0). https://creativecommons.org/licenses/by/4.0/
SOCIAL MEDIA: to watch the host of ThePeel.news, Adel, peel the history behind news with distinguished professors and critically acclaimed authors, follow us on social media by clicking the following links:
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ThePeel.news Podcast Platforms: Our program is available pretty much wherever you get your podcasts. And for your convenience, here are direct links to several platforms:
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As of the production of this podcast episode, America's student debt burden stood at $1.73 trillion! Do the math, and you'll note that this figure is not an insignificant percentage of our GDP. While this debt keeps on climbing, no one in government is really rushing to fix the problem. And here is something intriguing: this is a decades-old problem. That's right! As Professor Shermer tells it, complaints about student debts were voiced as far back as 50 years ago. As the complaints became more vocal in the 1990s, the Clinton Administration almost embarked on major changes to our student debt system. But as politics go, it was not to be! Blazing voices of students during the Occupy Movement in the Great Recession brought national news coverage to the debt crisis. Regardless, student debt and its burden have continued climbing unabated.
Professor Elizabeth T. Shermer, Loyola University Chicago, is the author of Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt (also available on Amazon). In this episode, she explains how we got here.
I hope you enjoy this episode and gain some perspective about our country's student debt crisis.
Adel Host of ThePeel.news podcast
U.S. Economy Series: click for more episodes
SUPPORT: To continue our free podcast program, we depend on our listeners’ support. So please click this link https://anchor.fm/the-peel-news/support and join our other supporters in the news peeler community. Thank you.
🎵 attribution, links and license for the theme music in this podcast is below: The Success by Keys of Moon | https://soundcloud.com/keysofmoonMusic promoted by https://www.free-stock-music.com Attribution 4.0 International (CC BY 4.0). https://creativecommons.org/licenses/by/4.0/
SOCIAL MEDIA: to watch the host of ThePeel.news, Adel, peel the history behind news with distinguished professors and critically acclaimed authors, follow us on social media by clicking the following links:
YouTube
TikTok
Linked-In
ThePeel.news Podcast Platforms: Our program is available pretty much wherever you get your podcasts. And for your convenience, here are direct links to several platforms:
Apple
Spotify
iHeart
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