Initiative before Congress aims to slash student debt

print
reuters logo

For most of the 20th century, higher education wasn’t treated as a cash cow, and students were better off for it. Consider: Thousands of college students recently had their school loans forgiven by the federal government. Few are celebrating, though. Washington stepped in to relieve students from paying a for-profit college that had defrauded them. Corinthian Colleges, a chain of private universities, had been the target of class-action lawsuits and government investigations since 2004. It went bankrupt in May, not long after the U.S. Department of Education fined the company almost $30 million for lying to students about job-placement rates.

But that’s just one settlement. We need a systematic approach to tackle the student-debt crisis. We can easily find one if we look in the not-too-distant past

Read more at Reuters 

Issues: Inequality

Related Articles:

About the Author

Heather McGhee

President, Demos

Heather_McGhee

Heather C. McGhee is the President of Demos. She is a frequent writer, speaker and media commentator on issues of democracy reform, economic opportunity, racial equity and financial regulation.  In 2010, she became a contributor to Countdown with Keith Olbermann on Current TV.  She is also a regular guest on MSNBC, Fox News and CNN.  Her opinions, writing […]

Related Experts

David_Kennedy

David Kennedy

Manley O. Hudson Professor, Harvard Law School

Jeffrey_Madrick2

Jeffrey Madrick

Senior Fellow, The Schwartz Center for Economic Policy

James _Bothwell

James Bothwell

President and Founder, Bothwell Financial Market and Regulatory Strategies LLC

blh