The High Cost of Higher Education
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The rising cost of tuition and fees makes college inaccessible for millions of young Americans while others graduate with tens of thousands of dollars in debt. We look at their plight, their prospects and President Obama's plan to take over student loans and create a big, new entitlement program. Also, details leaking out on stress test results, and LA Dodgers star outfielder Manny Ramirez has been suspended for violating the drug policies of the Major Leagues.
Banner image: President Barack Obama listens to Stephanie Stevenson, a young student said to be struggling to afford the cost of college education, in the Diplomatic Room of the White House on April 24. Photo: Aude Guerrucci-Pool/Getty Images
Stress Tests Will Gauge Confidence in Banks ()
Results of the much-awaited stress tests for American banks will be formally announced later today. But a lot of details already have leaked out. Greg Ip is US Economics Editor for the Economist.
Students Take on Increasing Debt to Pay for an Education ()
In the proportion of college graduates between the ages of 25 and 34, the US used to be first among the world’s nations. But it has fallen to seventh, with tuition and other costs too high for millions of young people. President Obama wants a massive new entitlement program to get America back on top. The President would make Pell Grants a massive new entitlement program, financed by money saved if the government takes over student loans. Even some Democrats are dubious about that in the midst of the recession, and private lenders have an army of lobbyists on Capitol Hill. We hear both sides and talk to students about the very substantial debts they’re saddled with before they’ve gotten their first jobs.
Other loans discussed in this segment:
- Edie Irons: Communications Director, Institute for College Access and Success
- Brian Frank: Graduating Journalism Major, University of Southern California
- Paige Greenley: Graduating Anthropology Major, Grinnell College
- Terry Hartle: Senior Vice President, American Council on Education
- Kevin Bruns: Executive Director, America's Student Loan Providers
Dodgers' Star Outfielder Ramirez Suspended for 50 Games ()
For the first time in many years, the Los Angeles Dodgers have the best record in baseball, in part, because of their star outfielder, Manny Ramirez. Now he’s has been suspended for the next 50 games. Ramirez, who’s batting .348 with six home runs and 20 RBI’s, won’t be eligible to go back on the field until July 3. He’s waived his right to appeal the decision and apologized to the team owners, the team and Dodger fans. Dylan Hernandez helped break the story for the Los Angeles Times.
- Dylan Hernandez: Staff Writer, Los Angeles Times
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