When President Biden canceled college debt last month, he left untouched the problem that created that debt: the soaring price of college.In the 1980s, the list price of undergraduate education at a private four-year institution could hit $20,000 a year. At some of these schools in the last couple of years, it has topped $80,000. Why has a college education become increasingly costly, and why has that become such a difficult problem to solve?Guest: Ron Lieber, a personal finance columnist for The New York Times and author of “The Price You Pay for College.”Background reading: Instead of making higher education free, the United States subsidizes it later through repayment plans and attempts at debt cancellation. The complexity is disrespectful, Ron Lieber writes in his “Your Money” column.Also from “Your Money”: Student loan borrowers don’t deserve “forgiveness,” they deserve an apology. For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.  Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

Jodi Kantor, a Pulitzer Prize-winning journalist known for her impactful work at The New York Times, and Ron Lieber, the paper's 'Your Money' columnist, discuss money's impact on family life. They share personal stories about navigating the balance between meaningful work and financial stability. Their reflections draw from family histories, including the emotional ties to money shaped by heritage. The conversation emphasizes the importance of financial education and empathy in discussions, ultimately advocating for open dialogues with children about finances.

Ron Lieber, bestselling author of 'The Price You Pay for College: An Entirely New Roadmap for the Biggest Financial Decision Your Family Will Ever Make' and New York Times 'Your Money' columnist, discusses understanding the financial aspects of college education, scandalous side doors and financial aid secrets, the importance of asking the right questions during the admission process, and the significance of self-reflection in the decision to pursue college.

Bestselling author Ron Lieber and Daily Dad discuss teaching kids about money, virtues like temperance, college decisions, gap years, reading to kids, setting limits, creativity in constraints, instilling values through financial education, and the importance of college experience.

As a parent, one of my goals is to raise children who aren't spoiled. I want them to be grounded, generous, and savvy when it comes to money and consumption. I want them to make the most of their money, without it controlling them. My guest today, author and New York Times columnist Ron Lieber, has written a book full of research-backed tips on teaching your children important personal finance lessons.