Transcript for Student loan debt forgiveness in 2020 race
President of the institute for college access and success a former Obama administration. Education policy advisor he also a friend of the briefing room but on before emergency James thanks for coming in so what did give us your top line reaction to Elizabeth Warren's proposal and also. Sort of the democratic field generally on this issue of student. Well I think it's important to keep in mind that over the last couple of decades we've really seen a fundamental shift in how and we pay for college and instead of bride taxpayer support affordable public colleges. More and more of the costs and that has been shifted on to students we see many more students barring a near barring a lot more. So that's really. The scope of the ambition senator Warner's proposal she wants to. Reverse and generational shift in saying we all have a stake in pain for public higher education and we all want to produce more college graduates so it's really a landmark. Extremely ambitious proposal. Argument souls of Morton makes is that the federal government is actually making money off of all of this student loan debt explained that thaksin is that true. Well yeah. If you look at the budget documents though show that. Student loans. Break Evander even make a very small margin opt for the federal government and that's obviously. Not the way should be the purpose of student loans is not to generate a revenue for taxpayers is to try and make college more affordable for people. And so that raises a question of are re really giving students fair terms on islam's and what point do to make college more affordable. I wanna be an argument has been that if you were to forgive. Student loans and make class and public colleges tuition free would not hurt. Some private institutions and when it disproportionately. Impacts some students. Over others and used it dozens of potential issue when indeed sort of unfairly applied to news students are new freshman and rolling. Well it is something that. You know that we're gonna have to talk about it and that I see that center Warren's plan includes. A very large increase in pell grants which are scholarships to low income students that attend. Private universities as well as public universities but there's no question that her proposal would make. Public higher education. More attractive relative to private universities. And that's something that would have enough fundamental change in our system of higher education. And shares of toilets ago I mean the impact. Is particularly felt the student debt mountain of student debt really and students of color. And that minority college campuses. Why is that an in how bad is it particularly for that demographically. Well it's it's a really important point that you're making there is a study out of Columbia University last year that projected that. 70%. Of black borrowers would eventually default on their student loans so there is a student loan crisis and mom. Black college students and I think you see now black students are more likely attend. Under resource institutions which have lower graduation rates. They have left Stanley wealth to fall back upon they face labor market discrimination. So for a whole host of reasons. The challenge of trying to pay for college by asking students to bar heavily is really apparent when you look at on the challenges facing black students.
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