You’ve probably heard the stats:
“Over 1.6 TRILLION DOLLARS in outstanding student debt”
“Over 44 million Americans are affected by student loans”
“Consumers now owe more on their student loans than their credit cards.”
We’ve been hearing time and again that the US outstanding student debt problem is causing concern for the next financial collapse. We go to college without thinking about the cost, or how we’re going to pay for it in the end. Tuition prices have gone up, and our salaries are not increasing at the same pace. This is turn makes it hard to save and invest in retirement.
In this episode of Talk Money, we’re exploring how this mess came to be in the first place. Joel Best, an author and professor at the University of Delaware, walks us through how the student loan program began and what the intention was. Then, we’ll speak to Kelly Peeler. She is the founder of Money Mentor, which is a company that helps students navigate financial aid and student loan packages. Kelly will have you questioning everything about this system - from the loans, to the value we’re getting from higher education, about the universities themselves, and also, a glimpse into what the future here holds.
In this episode you’ll learn:
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