The Prof G Pod with Scott Galloway No Mercy / No Malice: Malignant
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Sep 3, 2022 Dive into the heated debate surrounding President Biden's student loan forgiveness initiative. Discover the staggering $1.6 trillion student debt crisis affecting millions. Unearth the complexities of public opinion on debt relief and the urgent need for systemic reforms. Explore the accountability of universities in this ongoing struggle and the implications for wealth inequality. This conversation reveals the pressing need to reshape higher education for a more equitable future.
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The Student Debt Crisis
- Student loan debt is a massive problem, exceeding all other consumer debt types in the US.
- Many borrowers, especially those without degrees, struggle to repay, leading to high default rates.
Broken Promises of Higher Ed
- Universities, employers, and society haven't upheld their end of the bargain regarding higher education's value.
- College acceptance rates have plummeted while tuition costs have skyrocketed, creating an exclusionary system.
$2.1 Million Zoom Class
- Scott Galloway criticizes universities' pricing practices, citing his own experience teaching a $2.1 million Zoom class at NYU.
- He argues that universities are exploiting students with exorbitant fees for subpar educational experiences.