Most: We’d probably be remiss if we didn’t acknowledge that here we are talking at Boston University, which is a school that is not inexpensive to attend. Can you just talk briefly about how we got here in the first place and is there a way out?
Ferrante: Thanks to s for joining us on this episode of Question of the Week
Williams: Sure. Well, I think we got here in part because since the 1980s, tuition has increased eightfold relative to wages. So in a sense, students that were going to a state school or even a private school leading up to the 1980s, you could have a summer job, you could save, and tuition was much more reasonable than it is now.
Williams, who has written about this subject previously, discusses who is impacted most by student debt, the politics of student loan forgiveness, and the effects of the current COVID-19 student loan pause
So debt became a bigger issue. We also had cuts as a result of the oil embargo of 1979, federal cuts that started in California and swept the nation, which reduce the amount of state funding that was received. Continue reading “Right now Congress makes it illegal to actually extinguish these loans due to bankruptcy”