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On Point with Meghna Chakrabarti

Colleges’ role in curbing the student debt crisis

On Point with Meghna Chakrabarti

WBUR

Talk Show, News, On Point, Daily, Npr

4.33.9K Ratings

🗓️ 4 November 2022

⏱️ 49 minutes

🧾️ Download transcript

Summary

The Biden Administration wants to make higher ed more affordable. Why aren't colleges and universities doing more themselves to make getting a degree less expensive? Eric Kelderman and Mitch Daniels join Meghna Chakrabarti.

Transcript

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0:00.0

Support for this podcast comes from Geico.

0:02.8

How would you love a chance to save some money on car insurance?

0:06.4

Geico can help.

0:07.6

Switch today and see all the ways you could save

0:10.1

with great rates and discounts.

0:12.1

It's easy.

0:12.9

Simply go to geico.com to get a rate quote

0:15.8

and get started seeing how much you could save.

0:19.3

This is on point.

0:24.9

I'm Magna Chacrabardi.

0:26.8

In the past 10 years, state funding for public to and for your colleges

0:31.6

has been cut by more than $6 billion.

0:35.1

And that's after adjusting for inflation.

0:37.2

And in a handful of states like Alabama, Louisiana, and Mississippi,

0:40.5

per student funding has fallen by more than 30%.

0:44.9

At the same time, federal funding for higher ed

0:47.5

has also fallen.

0:48.8

Back in 1979, Pell Grants, which are federal dollars

0:52.1

given to low-income students to help pay for college,

0:54.7

those Pell Grants went from covering 80% of the cost

0:58.5

of attending a four-year public institution to just 30%.

1:04.5

Meanwhile, college costs have gone up more than 2,000%

...

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