Why Student Debt Is So High and Why Forgiving It Doesn't Fix the Problem

What are the drivers that lead to higher student loan balances? Why a one-time student loan forgiveness program doesn't solve the problem of increasing student debt. What are some more viable longer-term solutions. Topics covered include:How big is the Biden Administration student debt forgiveness planHow big has the student debt burden grownWhy are borrowings for students increasingWhy Baby Boomers spent so much less on collegeHow are student loans accounted for by the U.S. federal governmentWhat is the impact on the deficit and potentially inflation of forgiving billions of dollars of student debt For more information on this episode click here. Show Notes Student Debt And The Federal Budget | How Student Loans Impact The U.S. Fiscal Outlook, November 2021—Bipartisan Policy Center What the Student-Loan Debate Overlooks by Ronald Brownstein—The Atlantic See the Average College Tuition in 2022-2023 by Emma Kerr and Sarah Wood—U.S. News & World Report Biden’s Student-Debt Plan Could Chip Away at the Racial Wealth Gap by Sheelah Kolhatkar—The New Yorker If your federal student loan payments are high compared to your income, you may want to repay your loans under an income-driven repayment plan—Federal Student Aid What Does Student Debt Cancellation Mean for Federal Finances?—Committee for a Responsible Federal Budget Government payments by program—Economic Research Service, U.S. Department of Agriculture Projected Lifetime Earnings by Major by Douglas A. Webber, December 1st, 2019 Related Episodes 245: Is College Worth It? 307: Income Share Agreements—Good for Students or Investors? 327: Is Student Loan Forgiveness A Good Idea? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.