
Explain It to Me
Who broke student loans?
Jul 26, 2023
Leah Litman, a legal expert, and Josh Mitchell, a student loan system analyst, discuss the Supreme Court's ruling on student loan forgiveness, the history and origins of the student loan system, and potential solutions for the ongoing student loan crisis.
52:13
Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The creation of student loan programs can be traced back to the 1950s as a response to the space race, but they quickly expanded, resulting in rising tuition costs and increased enrollment.
- The Supreme Court ruling against President Biden's student loan forgiveness plan in Nebraska v. Biden has drawn attention to the issue of student loan debt, sparking debate over the legality and potential solutions for addressing the growing crisis.
Deep dives
The Origins of Student Loans
The creation of student loan programs can be traced back to the 1950s, when the government sought to increase access to higher education in response to the space race with the Soviet Union. Initially designed to target specific fields of study, the student loan programs quickly expanded, providing more students with loans. The program shifted from providing loans through banks to direct loans from the Treasury Department in the 1990s. The Great Recession in 2008 further fueled the demand for higher education, resulting in increased enrollment and rising tuition costs. However, the pandemic-era payment pause has brought into question the affordability of college education and the consequences of taking on excessive student loan debt.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.