SAN FRANCISCO (KCBS RADIO) – In April, President Joe Biden announced that he would seriously consider canceling some federal student loan debt, a move that could impact an estimated 45 million Americans.
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The student loan crisis, which has amounted to over $1.7 trillion in collective student debt, has become a divisive issue amongst Democrats and Republicans as we look toward the midterm elections.
On this week's "Connect the Dots," we'll explore how the federal student loan program has impacted generations of borrowers.
We spoke with Josh Mitchell, author of "The Debt Trap: How Student Loans Became a National Catastrophe" and with Elizabeth Tandy Shermer, author of "Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt" – who both explained how the student loan crisis started from systemic flaws in the 1965 Higher Education Act.
We'll also hear from a student who rejected her admission to Boston University because of her fear of student loans, and a graduate who put off the career he went to school for in order to clear his student loan debt.
Listen to hear how student loan debt can affect more than just finances.
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