Andrea Fuller
speaker
302 appearances
4 recordings
1 series
first heard Nov 2019
last heard Apr 2022
Andrea Fuller’s voice in public audio — every appearance, attributed to the second.
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Appearances
And these schools are actually the ones that are leaving families in the most debt.
They're good schools, but they don't have the resources of these schools with multi-billion dollar endowments.
NYU is another example of a school that is an elite school but doesn't have the endowment size of a Harvard, and the median parent debt there is upwards of $70,000 a year.
So the number one college is Spelman in Atlanta, which is an HBCU, historically black college.
And the median debt there for parents of graduating students was $112,000, which is a huge number for any family.
And 40% to 50% of Spelman parents are borrowing these loans.
So it's not just a sliver of students.
I think that's the million-dollar question, right?
And no one really knows on an individual level.
The government has said that the default rate for these are fairly low, actually lower than for student borrowers themselves.
But they've also been increasing so much in recent years that we don't know what the long-term consequence of this program is going to be because...
We're talking about parents who are, one, approaching retirement.
Two, these aren't just parents who may not have liquidity and are using this program to get it.
Some of these borrowers are low income parents.
They're parents who are making $30,000 a year and borrowing $30,000 a year and the government lets them do it.
And I think some of these families, they have no idea how they're going to pay it back.
And it's possible that they won't and they'll end up having their wages garnished.
Many schools, in fact, offer scholarships for low-income students.
And so I wouldn't want families to see these numbers and say, oh, well, college isn't affordable.
There are opportunities for low-income students to get scholarships so that they can attend one of these more expensive colleges.
Showing 201–220 of 302 · page 11 of 16
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