Here's my interview on CNN's Newsroom with Carol Costello. I was invited on to speak about the student loan rate battle, but also made a point to discuss the student lending crisis and why "loan forgiveness" is such awful rhetoric.
I also wanted to follow-up at the end and point out some of the inaccuracies mentioned by the other expert. I was on Headline News and was able to address some of the comments she made a week later, so I was pleased with that (I wasn't able to discuss it directly with her, but with the anchor on that show). And, I am sure there will be another opportunity to discuss those matters on CNN or HLN!
See the clip below.
A non-profit organization dedicated to the eradication of all student loan debt through activism, education, and legislation; because student loan debt is dangerous to the US economy and to the health and well-being of individual Americans and their families. CRYN JOHANNSEN, Founder & Executive Director
9 comments:
Next time you are on one these channels, you should hit on two key points
1. Allowing student loans to be discharged in bankruptcy
2. This will automatically help reduce the price of tuition, which has skyrocketed 8 x the rate of inflation in the past 30 years, with a huge increase since loans were not allowed to be discharged - this being a natural check on tuition prices.
You must focus on point two especially, because it makes no free market sense that tuition prices should be so high relative to inflation.
Finally, a third point
3. The CNN commentators actually hit on this, but not as bluntly. Forgiving student loans or allowing discharge of debt allows for debtors to spend their cash in the ECONOMY, stimulating it, rather than giving it to the government. Reducing student debt is then good for the general greed.
Nice job with this, Cryn. The talking head "journalist" didn't seem too interested in an in-depth analysis, or conversation but that's nothing new these days. Good for you getting the word out and putting yourself out there. We are fighting such massive propaganda and ignorance it is definitely an uphill battle, but one that simply will not go away.
My blood is boiling a bit. It is people like the last speaker who convince non-student debt holders that it is not in the country's best interest to reform student debt. "Keep borrowing down," she said. When did she go to college? 1912? She is blaming the student here. How do you keep borrowing down if tuition is where it is? These "experts" simply do not know the whole story and therefore have no credibility to comment on this matter yet they, of course, are given the most face time. Outrageous.
Thanks for your comments, Cryn.
@Anonymous June 7 1:21 PM -
I understand. The advice does not make any sense today. Perhaps her suggestions were good 10 - 15 years ago, but definitely not now.
http://chronicle.com/article/From-Graduate-School-to/131795/
The graduate school graduation rate is right below 50 percent and even when the degree is awarded, many can't even make enough money teaching in higher ed to feed themselves and their families.
http://www.ed.gov/news/press-releases/consumer-financial-protection-bureau-now-taking-private-student-loan-complaints
Is it legal or anyway possible to sell human body parts, such as a kidney or a cornea for enough money to pay off student loan debt?
Just something I was thinking about and I am not saying I am going to do it.
Here is a good read from another elite and cold academic, like Leiter, though not as cold as the law school academic crowd in general:
http://plato.stanford.edu/entries/organs-sale/
Thank you for what you're doing.
Thank you for what you're doing.
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