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: