© 2020 Texas Public Radio
Real. Reliable. Texas Public Radio.
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Community

The Source: Who Is Getting Rich Off Student Loans?

source-debt.jpg
flikrUser: Images_of_money http://bit.ly/1meOWgD
/

Education, long held as the best way out of poverty and social mobility has for many become a financial weight, dragging them into default as a result of student loans. 42 million Americans owe more than $1.3 trillion in student loan debt. And millions of those holding student loans are either behind or in default on a loan that can't be discharged through bankruptcy and has proven very difficult to have forgiven.

But how did we get here?

A new investigation from Reveal - a collaboration from the Center for Investigative Reporting and PRX - shows how student loans are a major revenue stream for Wall Street and the Government while tracing the lobbying and deregulation that led us to today.

Guest:

  • Lance Willams, senior reporter for the Center for Investigative Reporting