student debt | WOSU Radio

student debt

Updated at 1:09 p.m. ET

Debbie Baker thought she qualified for a federal program that helps teachers such as her, as well as nurses, police officers, librarians and others. The Department of Education program forgives their federal student loans if they make their payments for 10 years and work in public service.

For 10 years, Baker, who was a public school teacher in Tulsa, Okla., checked in with loan servicing companies and was told she was on track.

Americans owe about $1.6 trillion in student loan debt. That's about twice the current budget for the Defense Department and around 22 times the budget for the Education Department.

Lots of people have student loans: more than 45 million people. They collectively owe about $1.6 trillion.

That is, of course, a lot of debt — but amid all the national debate right now about what to do about it, it's important to remember that not all debt is created equal, and some borrowers are struggling more than others.

Massachusetts Sen. Elizabeth Warren has issued another big policy proposal as part of her campaign for the Democratic presidential nomination in 2020. This one concerns higher education.

Warren proposes that the federal government write off hundreds of billions of dollars in existing student loan debt.

J. Scott Applewhite / Associated Press

Sen. Sherrod Brown (D-Ohio) is pushing for a bill that would give states incentives to help students graduate from college debt-free.

Mitch Felan / WKSU

Betty Sutton, the Democratic candidate for lieutenant governor, made a stop at Kent State University Wednesday to talk about health care, women’s rights and student debt.

Justin Napier is exactly the kind of community college graduate Tennessee was hoping for.

In high school, Napier didn't have his eye on college. In fact, he had a job lined up working on race cars after graduation. But in the spring of 2014, a year before Napier graduated, Gov. Bill Haslam announced a plan to make community college free for graduating high school seniors, part of a broader plan to dramatically increase the number of adults in Tennessee with college credentials. It was called, grandly, the Tennessee Promise.

This week, two different people showed up for the same job as the acting head of the Consumer Financial Protection Bureau.

Mick Mulvaney is President Trump's pick and also his current budget director. Outgoing director Richard Cordray, an Obama appointee, named his deputy Leandra English for the role.

graduating students
Google Creative Commons

A new national study of student loan debt says college graduates in Ohio last year left school owing an average of $30,000.

On Adriene McNally's 49th birthday in January, she heard a knock on the door of her modest row-home in Northeast Philadelphia.

She was being served.

"They actually paid someone to come out and serve me papers on a Saturday afternoon," she says.

The number of people 60 and older with student loan debt has quadrupled in the past decade, and older Americans now represent the fastest-growing segment of the U.S. student loan market, according to a new report by the Consumer Financial Protection Bureau.

As of 2015, more than 2.8 million Americans over 60 had outstanding student loan debt — up from some 700,000 in 2005.

When President Obama took office in January 2009, the country was on edge, the economy in free-fall. The federal education law, known as No Child Left Behind, was also in need of an update after earning the ire of teachers, parents and politicians alike. In short, there was much to do.

In time, that update would come, but President Obama's education legacy begins, oddly enough, with his plan to bolster the faltering economy.

Race To The Top

Pexels

Student debt is crippling more than 40 million Americans in more than $1.3 trillion in debt. But this debt has been a long time coming.

And, while many are struggling to make these payments in order to get a college education, those who profit from it are profiting big. Who are these people and how did these massive debts begin? This hour, we dig in to answer those questions.

PEXELS

Student debt is crippling more than 40 million Americans in more than $1.3 trillion in debt. But this debt has been a long time coming.

Kasich’s Plan to Tackle College Affordability

Mar 5, 2015
Ohio State logo on Ohio Stadium scoreboard
Flickr

Governor Kasich wants to reduce the cost of public college tuition, and has promised to “take an ax” to the schools that fail to lower student costs. Average student debt is almost $30,000, and Kasich has formed a task force to find ways to reduce the burden. We’ll discuss where tuition money goes, and if it’s possible to fund education more economically.

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