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The High Cost of Student Loans

CollegeDegrees360/Flickr via Creative Commons

Is college still a smart investment? Is rhetoric about the danger of student loans overblown? According to the New York Federal Reserve, student loan debt now tops $1.2 trillion dollars, surpassing both auto loans and credit card balances. Beth Akers, an expert on the economics of higher education with the Brookings Institution, explains what’s driving up college costs and why households carrying student debt aren’t actually worse off economically than households without this burden. Plus, do you feel buried under student loans? Nina Heck, Director of Counseling and Client Relations for Guidewell Financial Solutions, demystifies repayment options and offers strategies to square away your finances.

Check out this tool for choosing a college: College Scorecard

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Sheilah Kast is the host of On The Record, Monday-Friday, 9:30-10:00 am.
Maureen Harvie is Senior Supervising Producer for On the Record. She is a graduate of the University of Maryland, Baltimore County, and joined WYPR in 2014 as an intern for the newsroom. Whether coordinating live election night coverage, capturing the sounds of a roller derby scrimmage, interviewing veterans, or booking local authors, she is always on the lookout for the next story.