About 45 million Americans have student loan debt, according to a 2018 analysis by the Federal Reserve Bank of New York.
And it all adds up to $1.6 trillion.
Student debt and what to do about it has already become a 2020 campaign issue. Sen. Elizabeth Warren of Massachusetts, for instance, has proposed a plan to cancel $640 billion in student loan debt, saying that the problem has reached a “crisis” level.
It wasn’t always this way. A number of colleges in the U.S. used to be tuition-free..
How did students start having to borrow so much to pay for college? Who can address the student debt crisis?
Produced by Paige Osburn.
Tressie McMillan Cottom, Author, “Lower Ed: The Troubling Rise of For-Profit Colleges In The New Economy” and “Thick: And Other Essays”; assistant professor of Sociology, Virginia Commonwealth University; @tressiemcphd
Paul Tough, Author, “The Years That Matter Most: How College Makes or Breaks Us”; @paultough
Michelle Singletary, Syndicated columnist of “The Color of Money” for The Washington Post; @SingletaryM
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