Life And Debt: What's Next For Student Loan Borrowers
1A
NPR
4.3 • 4.5K Ratings
🗓️ 18 May 2023
⏱️ 38 minutes
🧾️ Download transcript
Summary
Currently, the Supreme Court is deciding the fate of President Joe Biden's student relief plan. At the same time, the pandemic-era pause on student loan payments is set to end. For over three years now, borrowers haven't had to pay a dime, but it all may be about to change.
We wrap up our Life and Debt series in collaboration with Bloomberg to look at student debt and what comes next for student loan borrowers.
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Transcript
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| 0:00.0 | It's a wait felt by over 43 million Americans and that includes many of you. |
| 0:13.6 | I graduated with my PhD and over $150,000 in debt, federal debt student loans and an additional |
| 0:23.5 | $25,000 to $30,000 in private student loan debt. |
| 0:27.7 | I have about $140,000 in student debt. |
| 0:33.1 | I am a first generation lawyer. |
| 0:36.6 | I have over $80,000 in student loan debt, most of which is interest and there is very |
| 0:45.5 | little chance I'll be able to pay it off anytime in my life. |
| 0:50.7 | Those of us in generation X, we did take out student loans and meanwhile we do also have |
| 0:55.8 | children that are on their way to college or are in college right now. |
| 1:00.1 | If we could get some relief in our own student loan debt, it will be really helpful in letting |
| 1:04.6 | us have the opportunity to help pay for our own children instead of adding more and more |
| 1:08.8 | onto student loan debt among all of us. |
| 1:11.3 | According to the Education Data Initiative, the average student loan debt balance is upwards |
| 1:16.1 | of $40,000 and the cost of college keeps rising. |
| 1:20.7 | Over the past 20 years, college tuition at in-state public universities has risen 175%. |
| 1:27.2 | The numbers can be dizzying, especially for recent high school grants. |
| 1:31.4 | The Supreme Court is set to decide the fate of President Biden's student debt relief plan. |
| 1:36.4 | At the same time, the pandemic air a pause on student loan payments is set to end. |
| 1:41.2 | For over three years now, borrowers with federal loans haven't had to pay a dime, but it |
| 1:45.7 | all may be about to change. |
| 1:47.7 | For this installment of our Life and Dead series in collaboration with Bloomberg News, we |
| 1:52.4 | take a closer look at student debt and what comes next. |
... |
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