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Why in the world is student debt treated differently than all other kinds of debt? Why does the cost of college keep sky-rocketing? Why do colleges and universities have so little skin in the game when it comes to the debt students incur to attend these institutions?
On this week’s Crazy Money, Oren Cass helps answer these important questions about higher education in the U.S. The author of ‘The Once and Future Worker: a Vision for the Renewal of Work in America,’ Oren’s recent article ‘The Banality of Student Loans’ (link below) outlines the contradictions and self-defeating policies that have led us to this educational morass.
Oren and I discuss why we have a “college for all” approach and why it is the wrong way to prepare the vast majority of young Americans for a career–especially those who need an economic boost the most. We talk about why the federal government should not underwrite student loans and who should. He argues that colleges and universities should take more accountability for the price and product they provide to their students. And I (Paul, yes it’s me writing these show notes) vent about “these damn young kids - don’t they know what ‘obligation’ means?” I know you're gonna find this conversation interesting and enlightening and you should share it with all your friends.
Oren is the Executive Director of American Compass. He graduated Williams College and Harvard Law School, magna cum laude.
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