2022-08-31 11:50:22

Why Is College So Expensive That it Drowns Millions in Debt?



Why Is College So Expensive That it Drowns Millions in Debt?

President Joe Biden last week announced a plan to forgive a portion of federal college loan debt for millions of Americans. In a speech from the White House, he explained that the Department of Education would “forgive $10,000 in outstanding federal student loans” and that Pell Grant recipients would “have their debt reduced [by] $20,000.” Only those making less than $125,000 a year would qualify for the relief.

Given that the average student debt is nearly $30,000, this certainly does not erase the burden that so many Americans carry with them. Biden’s plan is expected to erase only a tiny sliver of the $1.75 trillion that is owed on student loans.

How did higher education become so expensive in the first place that millions of Americans are burdened by student debt?

 

 Rising Up with Sonali is a radio and television show that brings progressive news coverage rooted in gender and racial justice to a wide audience. Rising Up With Sonali was built on the foundation of Sonali Kolhatkar's earlier show, Uprising, which became the longest-running drive-time radio show on KPFK in Los Angeles hosted by a woman. RUS airs on Free Speech TV every weekday.

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