Digging into student debt
The Story of Money
Manuela Saragosa
4.4 • 400 Ratings
🗓️ 21 August 2018
⏱️ 19 minutes
🧾️ Download transcript
Summary
The amount of outstanding student debt in the US has hit a staggering $1.4tn, and many millennials say the education-related debt they've been saddled with has prevented them from doing things like buying a home, getting married and taking career risks. Who has been hit the hardest by student debt loads and what does it mean for the US economy? With guests Michael Ranalli, Judith Scott-Clayton and the FT's Sam Fleming. Read more of Sam's reporting at FT.com.
Review clips: Fox Business Network, CBS News, CNBC
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Transcript
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| 0:30.3 | Hi, I'm Amy Keene, and this is behind the money with the Financial Times. |
| 0:36.0 | 1.4 trillion dollars, you've probably heard this figure before, |
| 0:40.0 | it's the amount of outstanding debt that the U.S. students have racked up. |
| 0:44.0 | It's more than twice the level it was 10 years ago, and it's prompted some to ask if mounting |
| 0:49.1 | education-related debt will be the cause of the next credit crunch. |
| 0:53.0 | This situation is being called the next financial crisis potentially. |
| 1:02.0 | Just last week, the New York Federal Reserve said the default rate on student debt had actually improved as more and more college graduates found work in the tightening U.S. jobs market. |
| 1:11.0 | But the default rate on student debt is still higher than |
| 1:14.8 | that of car loans and mortgages. |
| 1:17.4 | So what is the real student debt crisis in the US and what does it mean for the health of |
... |
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