How the Next President Could Shift Health Care Costs and Student Loans

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 24 October 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn how the presidential candidates' policies on health care and student loans differ in how they could impact your finances. What impact could presidential policies have on health care and student loans? How might these policies affect your personal finances? Hosts Sean Pyles and Anna Helhoski discuss health care costs and student loan forgiveness to help you understand how upcoming elections may influence your financial future. They begin with a discussion of health care with Richard Frank, director of The Center on Health Policy, about the feasibility of lowering prescription drug prices, the candidates’ stances on Medicare and Medicaid, and the potential for health care tax credits to be extended. Then, Anna talks to Student Loans Nerd Eliza Haverstock about student loan repayment policies and financial aid. They discuss the fate of income-driven repayment plans like SAVE, the future of public service loan forgiveness, and the costs of alternative education pathways for students beyond traditional four-year colleges. Stay up to date on the latest financial news by visiting NerdWallet’s Financial News Hub: https://www.nerdwallet.com/h/news/financial-news In their conversation, the Nerds discuss: presidential policies, healthcare costs, lowering healthcare costs, healthcare tax credits, healthcare reform, Affordable Care Act, ACA, Kamala Harris healthcare plan, Donald Trump healthcare plan, student loans, student loan forgiveness, Medicare, Medicaid, SAVE repayment plan, public service loan forgiveness, PSLF, prescription drug prices, financial aid, college affordability, Pell Grant, alternative education pathways, election impact on finances, student debt relief, healthcare policy, college tuition costs, and healthcare in the US. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Think of your budget. The money you spend, the money you save, the money that creates
0:05.7	streams, the money that creates nightmares, the money you owe, the money that's owed to you.
0:11.3	When you think about it, politicians have a lot of say over all of that.
0:15.5	They have a lot of power to make policy around just about everything your money touches.
0:20.6	Today, we're looking at two specific areas, health care and student loans.
0:25.2	The fate of the repayment plan is now largely in the hands of the courts.
0:28.5	However, the president can influence the situation by directing the Justice Department
0:32.1	how to proceed with appeals.
0:34.1	Harris would likely continue to vigorously defend the safe plan in court.
0:40.1	Meanwhile, Trump is not likely to defend the SAVE.
0:52.3	Welcome to Nerd Wallet's Smart Money podcast. I'm Sean Piles. And I'm Anna Hill Hasky. And this is the final episode of our nerdy deep dive into presidential policy and personal finance.
0:57.0	So far, we've talked about how much impact presidents really have on your personal finances
1:01.6	and unpacked what the two presidential candidates are proposing around prices and taxes.
1:07.5	I think it's safe to argue, Anna, that health care and education are two pretty important
1:12.0	elements in our lives.
1:13.5	One keeps you alive.
1:15.1	The other can help you live your best life.
1:18.0	Yeah, I think that's accurate, Sean.
1:19.7	And in the United States, they're two of our biggest budgetary outlays.
1:23.8	As a country, we have some of the highest health care costs in the world.
1:27.3	According to the World Economic Forum, the U.S. spends more on health care than any other country.
1:33.1	At the micro level, the average American spent $12,318 on health care in 2021.
	...

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