Student Loans: The Fund-Eating Dragon (2022)
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The Johnson Administration's Guaranteed Loan Program
President Lyndon Johnson signed the Higher Education Act into law in 1965. The act guaranteed loans for students to go to college if they couldn't pay them back. But costs had gone up 90% since 1950 and four years of college averaged about $7,000 a year at the time. Josh Mitchell: 'The government didn't really consider it just how big this program was'
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