Unnamed Speaker

The government has been trying to help Americans pay for higher education for decades. The federal student loan program that we're familiar with today dates back to 1965. And what was the theory behind that?

The government has been trying to help Americans pay for higher education for decades. The federal student loan program that we're familiar with today dates back to 1965. And what was the theory behind that?

Like, why underwrite people's education in that way? So higher education was seen as a means to propel people into different socioeconomic statuses to kind of change the course of their lives.

Like, why underwrite people's education in that way? So higher education was seen as a means to propel people into different socioeconomic statuses to kind of change the course of their lives.

Like, why underwrite people's education in that way? So higher education was seen as a means to propel people into different socioeconomic statuses to kind of change the course of their lives.

And so the idea, at least politically and socially at the time, was that if I go to college, then I might get a better job than my parents had or be able to propel myself into a higher tax bracket later in life. The whole general opinion was that college is a public good and therefore the government should subsidize that in some way.

And so the idea, at least politically and socially at the time, was that if I go to college, then I might get a better job than my parents had or be able to propel myself into a higher tax bracket later in life. The whole general opinion was that college is a public good and therefore the government should subsidize that in some way.

And so the idea, at least politically and socially at the time, was that if I go to college, then I might get a better job than my parents had or be able to propel myself into a higher tax bracket later in life. The whole general opinion was that college is a public good and therefore the government should subsidize that in some way.

And that's how Kristen Pickett thought about her student loans. So my loans began with my undergraduate degree.

And that's how Kristen Pickett thought about her student loans. So my loans began with my undergraduate degree.

And that's how Kristen Pickett thought about her student loans. So my loans began with my undergraduate degree.

Kristen graduated from college in 2005. She works part time as an adjunct professor and program director, and until recently worked at a nonprofit. She was the first in her family to go to college. And while she got some financial aid, it wasn't enough.

Kristen graduated from college in 2005. She works part time as an adjunct professor and program director, and until recently worked at a nonprofit. She was the first in her family to go to college. And while she got some financial aid, it wasn't enough.

Kristen graduated from college in 2005. She works part time as an adjunct professor and program director, and until recently worked at a nonprofit. She was the first in her family to go to college. And while she got some financial aid, it wasn't enough.

Kristen graduated with her bachelor's and then went on to get her master's degree. She even went for a second master's that she didn't finish. She thought the additional schooling would help propel her into a higher-paying job.

Kristen graduated with her bachelor's and then went on to get her master's degree. She even went for a second master's that she didn't finish. She thought the additional schooling would help propel her into a higher-paying job.

Kristen graduated with her bachelor's and then went on to get her master's degree. She even went for a second master's that she didn't finish. She thought the additional schooling would help propel her into a higher-paying job.

Instead, she found herself paying down about $170,000 of student debt. When you kind of zoom back and think about this debt that you've carried over the years, how do you think it's impacted your decisions and just the way you've lived your life?

Instead, she found herself paying down about $170,000 of student debt. When you kind of zoom back and think about this debt that you've carried over the years, how do you think it's impacted your decisions and just the way you've lived your life?

Instead, she found herself paying down about $170,000 of student debt. When you kind of zoom back and think about this debt that you've carried over the years, how do you think it's impacted your decisions and just the way you've lived your life?