Slate Money
Money Talks: The Student Loan Paradox
Apr 15, 2025
Jillian Berman, assistant managing editor at MarketWatch and author of 'Sunk Cost,' dives deep into the complexities of the U.S. student loan system. She discusses how well-intentioned policies have led to crippling debt for many students. Berman highlights the challenges faced as loan repayments resume post-pandemic and critiques the Public Service Loan Forgiveness program. She also explores the historical shift in educational funding and the impact of socio-political changes on tuition, posing tough questions about the true value of higher education today.
40:24
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Quick takeaways
- Policymakers are primarily responsible for the flaws in the student loan system due to poor design choices and neglect of systemic issues.
- The Public Service Loan Forgiveness program faces increasing obstacles from recent regulatory changes, making it harder for borrowers to access relief.
Deep dives
Understanding the Blame for the Student Loan Crisis
Policymakers are primarily to blame for the shortcomings of the student loan system, which has been shaped by their design choices and lack of political imagination. Critics argue that the focus on blaming borrowers obscures the systemic issues rooted in the policies set by those in power, including the influence of lenders and nonprofit intermediaries. These external pressures have led to a system where many borrowers find themselves in precarious financial situations despite trying to meet their obligations. Ultimately, the narrative around student loans often shifts blame from systemic failures to individuals, disregarding the structural complications at play.
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