Student Debt Across the Generations

With millions of individuals burdened by student loan debt for two decades or more, the Income-Driven Repayment (IDR) waiver has the potential to offer much-needed relief. However, it may also morph into a significant political issue as a substantial number of older voters struggle with loan repayments. In this discussion, I examine the questionable financial choices made by colleges, such as allocating large budgets for non-essential expenses, and delve into the increasingly lavish nature of higher education costs, such as the growing focus on luxury amenities rather than educational quality. I also explore the amount of long-term student loan debt and the profound impact it has on the lives of many Americans. In today’s episode, you'll find out: How the IDR waiver can potentially reform bankruptcy regulations for student loan debt The probability of a student loan tax bomb impacting borrowers in 2030 Factors contributing to rising college costs The shift towards upscale amenities and programs in higher education to attract students The government's role in student loan debt and its evolution as a political issue The societal impact of the Grad PLUS program Predominant methods Americans use to finance higher education The average age of student loan borrowers The amount of student loan debt held by borrowers and why they hold it for so long    Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts  Follow on Facebook, Twitter, or LinkedIn   Feeling helpless when it comes to your student loans? Try our free student loan calculator Check out our refinancing bonuses we negotiated Book your custom student loan plan Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!