If you are between the ages of 25 and 40, call us at 2027488001. Order than 40, 2027488002. If you are under 25, you can call 2027488000. You can also send us your thoughts on social media. Again, we are talking this morning about the growing problem of student debt. Are some charts from the boston globe using data from the department of education. Of collegerage cost 0uition has risen from 2000 for a private Fouryear College average for a0 on private fouryear school. Costing aversities little over 10,000 in 2000. 20,000 risen to over in the most recent year that it is available. Large increases in the Sticker Price of a College Education. That does not factor in the amount of Financial Aid that students may be using. 78 of students who attend private Fouryear Colleges received some type of Financial Aid. Collegettend a public receive Financial Aid. 40 of those who have taken out federal Student Loans are behind on their payments. The wall chart from street journal that shows 22 million americans have federal Student Loans and 43 of them were either behind or received permission to postpone those payments. 3. 6 Million People in default. That means they are at least 360. Ays behind on their payments three percent are delinquent, meaning between 31 and 360 days behind on the payment. 3 in postponement. 12. 5 Million People are current on their Student Loans. The amount of Student Loans outstanding, the amount of student debt is greater than the amount of auto loans, credit cards or revolving home equity loans. Here to break down some of these numbers with us and give us more information on the white House Plus Program is an education reporter at politico. According to you. Good morning to you. What is the white house doing to address this problem . Number ofere are a things the white house is doing and that congress has been trusted in doing to address this. None of them are going to really stick fix this problem at the root of the student debt issue. College is too expensive and people have to take out big loans to pay for it. Right now, you are seeing a lot of initiatives that look at helping student borrowers repay their debt. Theres been effort to keep Interest Rates down, which important, buts it does not help curb the cost of college. The perspective of education policy, theres a few things going on that are interesting. The federal government backs the Student Loans, but they do not actually administer them. Is not the federal government making sure that students are paying their loans. Its these outside Companies Must be loan contractors. Student loan contractors. The government is turned to give incentive totors make sure students are repaying their loans and doing a good job. Doing a badm are job at that. The are not paid by government based on the performance of students they are overseeing. Some of them are not doing nearly enough to try to keep borrowers on time, give them information they need to be responsible with their loan. It doesnt sound like as big of a deal, but it could stand to make a big change. Host weve heard about the concept of loan forgiveness and maybe allowing some of these student loan holders to simply not pay part of their lives if they have low incomes, etc. The white house has done a lot to expand the loan forgiveness for certain student loan borrowers. Like people who go into the Public Sector and work as teachers or Government Employees can now get their loans forgiven after a certain amount of time. Student loan debt is one of the only forms of debt that cannot be discharged with bankruptcy. However mother are a number of things for very specific students. However, there are a number of things for very specific student groups. Forgivenessfer debt for students who attended for proper colleges and were taken advantage of by those forprofit colleges. If they go to a forprofit college that has been found to be defrauding students and it shuts down come in the past, there was legal language that allowed the federal government but harge that that that debt, but it was rarely used. The obligations for students weapon seriously defrauded could make a big difference and you are sick students who attended seeing colleges students who attended Corinthian Colleges clamoring for that kind. F relief host you mentioned the potential for congressional action. I dont think we are going to see much until next year when we have a new president. Rewrite theeed to Higher Education act. This is one issue where lawmakers have heard a loud and clear from constituents that people want a change would comes to student debt. There are a lot of different ways to do this. It will be front and center when they do get around to reauthorizing the Higher Education law. You will see more action on that front next year. Host the root cause is the rising cost of a College Education. Has there been any proposal to address the core issue . You are starting to see proposals like that float around on the hill. Theres a lot of disagreement over how to handle that issue. But a lot of interest in handling it because policymakers understand that is a root problem. When idea is this idea of putting skin in the game. You see this as part of Hillary Clintons education platform. Institutions should be responsible for making sure the money student aro is worth it. Students borrow is worth it. We needed new metrics to judge whether the money students are borrowing is worth it. I dont think anyone would argue that, for most students who take out loans to attend harvard or a Top Law School or medical school , it can be expensive but a really good investment. People would like to see the amount of money more lined up with the amount it benefits the students in the longterm. Host that is maggie severance from politico. Thank you for talking to us this morning. Severns from politico. Under 25, 2027488000. 40, 2027488001. Columbus, ohio. Over 40 line. Caller thank you for taking my call. 1948, i was going to college in michigan. My dad was helping me out. It was chump change compared to today. Its ridiculous that we dont have a plan like the country of france has, if you get high enough grades, you go to college for free. Did you know that . Host Bernie Sanders has proposed Free College Tuition for everyone as part of his platform. The you agree with that do you agree with that . Caller absolutely. It is ridiculous. What weve got here, only the upper class its ridiculous that these kids are getting good grades in school, cannot go to less thand have 50,000 in Student Loans. This is supposed to be the land of the free and the home of the brave. Got the billionaire class by the way, when i went to college, my boss told me, you can work 30 hours a week, i will make you a fulltime employee. In 1948, he made me a fulltime and raised my pay from . 80 to one dollar an hour and i got medical benefits and life insurance. Host a few comments on twitter. Bill from athens, georgia is up next. Good morning, bill. Caller my comment is similar to that. 1960s, you could for about 1200 a year for everything. You go down there and drive a truck, worked construction, worked on shipyards and you can make that much money. You cannot do that anymore. I dont know why College Costs have gone so out of place. President obama spoke last week with student reporters on College Training day. Heres what he had to say about what his administration has done. [video clip] we expanded health grants to make sure more young people could access it. We created the pay as you earn program that ensures people can cap the amount they are repaying on their loans each month so that young people who want to go into jobs that dont that are not as lucrative are still able to pursue their passions while managing their debt load. We are aiming to enroll 2 million more people in pay as you earn by this Time Next Year and you can find out how at studentloans. Gov repay. Makingalso going to be additional announcements about how we will get our agencies coordinating so that as young people are managing their Student Loan Debt, there is onestop shopping, they can figure out how to do it and make there are Consumer Protections in terms of how they are being treated in the repayment process. Host we are talking about the problem of Student Loan Debt. We are taking your phone calls for th. To is calling on the 25 40 line. College, wherety i went to college i did get a loan and my College Education cost about 8,000. Now, people are paying 40,000. It is just crazy. Take out aou have to loan or were you able to pay outofpocket . Caller i took out a loan. Im still paying it off. Host how much longer do you have . Caller i have about 3000 left. Not long. Host im next caller comes from davenport, iowa. Jack is on the over 40 line. Caller i paid off my Student Loans but the Interest Rate was 3 . I went to school in the 1960s and 1970s. Theres too much protection for the banks. Bankruptcy laws were passed to protect banks and they got into the same trouble and collapsed the system. Just asd to make loans dischargeable in bankruptcy as a bad house loan. , you willcannot pay not have debtor prisons anymore. Call it like it is. Reinstate think of to laws so that kids underwater that cannot married,nnot get cannot buy a house, cannot move s. T of their parents basement lets be realistic. Host the president ial candidates weighed in on this issue. Here is donald trump in an hill. Whyith the is the federal government making money on Student Loans . He says he is the best president ial candidate to help millennials. Now, here is Bernie Sanderss campaign website. Makelatform it is time to college debt free. Start by making tuition free at public colleges and universities, stop the federal government for making a profit on Student Loans, substantially cut student loan Interest Rates. Allow americans to refinance loans. He would pay for this by imposing a tax on wall street speculators. Noillary clinton student has to borrow to pay for tuition, books or fees to attend a fouryear public college. She would enable americans with existing Student Loan Debt to. Efinance lets get back to your phone calls. Romney in california is calling on the over 40 line ronnie in california. I took out a student loan at a place called associated technical colleges. It was only about 3000. It was back in the 1980s and im still paying that. I am paying triple of what i actually borrowed. The interest kept building and building, the school went under. The instructor was caught in the bathroom doing cocaine. So, i did not pay for couple of years. Back iniled income tax the 1990s, they took my money and said i owed all this money like 20,000. That dont make any sense. Host what do you think of the s proposals or the white houses plan to limit the amount of households impacted by th defaults . Caller as far as these technical colleges charging these enormous Interest Rates over the years i only borrowed 3000 and ended up paying 20,000 back. Ive been paying for 15 years. That is crazy. Schools like that, they should the federal government should check them out better. Mary from massachusetts on the over 40 line. Go ahead. Caller thank you. First ofllege all, not everybody should go to college. Some people should go to technical institutes, the people should just go into the workforce after high school. That, this student loan business is crazy. I have a very close friend, they dont have any money and yet, they are allowing their youngster to go to the most Expensive College in the United States. That doesnt make sense. If parents would sit down and tell a student like my parents did with us, we cannot afford to send you to x college, but there is a good one right in town. Right there, room and board are taken care of. Thats about 30,000 right there. My sister and i did a survey with regard to these colleges and my friend could send his for to college in the state one third of the cost. Andle just dont sit down figure these things out. I think a lot of the student debt is on the onus of the parents who have allowed students to go to college is they cannot afford, just like people who live in houses who cannot afford them. Host next up, susan from tana on the line caller i had my experience, i ,ent to a Community College took out Student Loans to get an rn degree. I was astonished at the Interest Rates. , but i felt like being an american and trying to educate myself from a lower the interest. Ates just floored me host how did you take out these loans . Who did you borrow from . Caller from the school. The kind of promoted them. You go into rooms and fill out paperwork and you would get these loans for gas and books. It gave you know life. No life. It was the first time in my life i do not have a fulltime job at the same time. Then, when i finished school, i worked so hard and the Interest Rate was triple what i imagined. Host have you finished paying . Caller i finished paying it. Now, i feel really bad because my grandson my son died. To payngest son has for college on his own. His girlfriend got pregnant, adding more stress to his life. He had to take a fulltime job, try to go to college. He had to drop classes for a while and the college called his loan. Now, they will not allow him to enroll in school. Host janine from charlotte, 40th carolina on the 25 to line. 2008r i went to school in for criminal justice. I got my Student Loans down to 5,000 and change. Haveer, because i do not , i have 2000 loan fee to start back paiying. If they can forgive somebody debt, why cant it . Just a race erase they cannot find my student loan. The information is on my credit score. Get it paidying to off. I have a son, he is seven years old now. For Student Loans to last that long host a few comments from twitter. Some information from the education department. This story in the wall street journal. Education Department Officials note that some defaulted loans are from prior decades. The government is severely limited in its ability to write them off. Some borrowers are not repaying, even when they can. Barbaras prioritize other bills such as car loans, mortgages and heating bills. Borrowers prioritize other bills. From melbourne beach, florida. John is weighing in on the over 40 line. Points. I have three , all collegesmost are scams. Scam. Phase of it is a the point that hillary is trying and ie versus bernie dont want to see people who are rich getting a Free College Tuition or anything else free. We the middle class have toported that for too long let them have the inside track, which they always do. I would like to see cspan do a comprehensive study on airtime given to the candidates currently in the race. My experience is that donald trump gets the majority of the time, Bernie Sanders gets the likeand Hillary Clinton is left back in the dust as almost a noncandidate. I would like to see cspan do an evaluation on its own airtime that they allow candidates to explain their positions. Host andrea from connecticut on the over 40 line. Go ahead. Andrew from connecticut. Old, a im 50 years disabled veteran. I just finished paying my loan off a few years ago. Donald trump is right. People in our government, instead of helping the american public, they decided they will use us to make money off of us. Theyve done it with everything. These loans are getting unmanageable. Younger kids are very unreliable these days. Theres a lot of abuse. Push classesing to on me to get the money from the u. S. Government. I had g. I. Bills. Push me intoing to courses that were just ridiculous and i did not eat. If i did not take control, i was going to end up paying in next or 10,000 so they can eat up money. Were just that ridiculous and i did not need. Politicians are making money off the middle class and the poor. With paul ryan. We voted for donald trump to stop this and he seems to think its about his agenda to jump in. More data for you. Report. From a gallup , the averagedebt amount students are graduating with. For all students, you can see that 37 of students do not have all. Ebt at 28 have between 1000 and 25,000 hours. Andhave between 25,000 50,000. When you look at the breakdown race, black students have only 20 have no debt at all. For hispanics, the majority the most number of hispanics have 25,000 in debt. The amount of debt held by College Students b there is dramatically by race. Dave is calling on the under 25 line from california. On the underalling 25 line from california. Im listening. Segment you are iowing the correlation would like to work and go to school. Ging to go to school. The economy is driven