Josh Mitchell
speaker
438 appearances
7 recordings
1 series
first heard Jul 2017
last heard Feb 2022
Josh Mitchell’s voice in public audio — every appearance, attributed to the second.
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Appearances
If the Biden administration takes moves to increase oil drilling in the United States, that could have some effect.
But overall, it's very unclear right now what's going to happen from here.
Sure, thank you.
You know, you have some people who are defaulting.
You have other people who are current on their loans, but they're just not paying them down as much as Congress thought they would.
Sure, thank you.
No.
So for years, Congress has assumed that this big program, this big lending program, is going to return taxpayers a profit.
The problem is that the assumptions that Congress makes are based on very rosy assumptions about whether people are going to repay their student loans.
And right now, the Trump administration is starting to learn that those assumptions have been very wrong and that actually instead of returning taxpayers a profit, it's actually going to be a very big cost –
People are not paying their loans at nearly the level that Congress has for years thought they were going to do, and this is turning into a really big cost for taxpayers.
Well, it's a mix of both.
So, you know, you have people who may have dropped out of college, two-year college or for-profit college, and so they may only owe, you know, $8,000 because they lasted less than a year.
A lot of those people haven't been able to get good jobs, and so they aren't making any payments at all.
And so they have defaulted on their loans.
That's one problem.
But then you have this other problem where it is actually people who have borrowed $20,000, $30,000, $50,000, sometimes $100,000 because they did go to all four years of college or they went to a graduate school or they went to law school, and so they ended up racking up a lot of debt.
They come out.
In a lot of cases, they have a good job, but the balance that they owe is still higher than what they're actually earning.
And so their monthly payment is so high that they're essentially refinancing into these plans that forgive a portion of their debt.
Showing 81–100 of 438 · page 5 of 22
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