| 00:00:05 |
Christ, Lindsey - Correspondent
WITH A DEGREE COME STUDENT DEBT. I'M REALLY HAPPY TO BE HERE TONIGHT. IT IS GREAT TO TAKE SOME TIME, TO HAVE THIS MANY AND THIS WHOLE SET UP TO DISCUSS...
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| 00:03:50 |
Wang, Marian - Correspondent
BIGGEST CONCERNS WITHOUT POPULATION ABOUT THIS DEAD, AND WHAT ARE THE POTENTIAL SOLUTIONS FOR THE -- DEBT, AND WHAT ARE THE POTENTIAL SOLUTIONS FOR THE...
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| 00:06:30 |
Kantrowitz, Mark - Publisher
ARE A MUCH MORE DNA IN A YEAR. >> -- BORROW MUCH MOER THTN YOU MAKE IN A YEAR. >> MARK, WHY DO THINK PEOPLE ARE TAKING ON SO MUCH MORE DEBT THAN THEY...
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| 00:08:00 |
Christ, Lindsey - Correspondent
BUT THAT DOES NOT DO AS MUCH AS JUST GOING TO A LESS EXPENSIVE COLLEGE. >> IS THE CHASING THE DREAM ASPECT SOMETHING THAT IN PREVIOUS GENERATIONS WAS...
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| 00:08:17 |
Kantrowitz, Mark - Publisher
IT IN KNOWLEDGE GAP IN TERMS OF THINGS HAVE CHANGED? WHY IS IT MORE OF A PROBLEM NOW, OR IS IT NOT? >> THE DEBT HAS GROWN. WHEN YOU HAVE A FAILURE OF...
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| 00:11:09 |
Loonin, Deanne - Attorney
A WEALTHY FAMILY. HOW DO YOU BALANCE THAT WITH THE REALITY OF THIS CRISIS. >> ONE OF THE THINGS WE DO AT THE NATIONAL CONSUMER LAW CENTER IS DIRECT REPRESENTATION...
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| 00:15:56 |
Deike, Randall - Vice President
HOW HAS NYU BEEN DEVELOPING POLICIES BOTH FROM THE ADMISSIONS STANDPOINT AND TO HELP STUDENTS ONCE THEY GET THERE AND END UP IN TROUBLE? >> FIRST, A LITTLE...
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| 00:23:50 |
Christ, Lindsey - Correspondent
THE MAJOR QUALIFIER FOR THAT WOULD BE THAT YOU GRADUATE, THAT YOU END UP WITH A DEGREE, THAT THE COLLEGE THAT IS NOT A CLIFF YOU NEVER END OFUP COMPLETING....
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| 00:25:04 |
Loonin, Deanne - Attorney
WHO IS THERE TO PICK UP THE PIECES WHEN THINGS GO WRONG IN THE PROCESS. >> I CAN JUST SAY THAT ONE THING IS -- THERE IS ACTUALLY SURPRISINGLY LITTLE RESEARCH...
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| 00:28:04 |
Kantrowitz, Mark - Publisher
IF YOU HAVE BETTER COMPLETION RATES, YOU HAVE YOUR PEOPLE IN THE PROBLEM IN THE FIRST PLACE. >> THE KEY IS GETTING THE STUDENT WHO STARTS TO THE FINISH...
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| 00:31:10 |
Wang, Marian - Correspondent
TEACHES THEM THAT AND THEY NEED TO KNOW THAT SO THEY CAN MAKE INFORMED DECISIONS. THEY NEED THOSE SKILLS. >> I WAS JUST GOING TO ADD THAT I DO THINK AT...
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| 00:32:03 |
Deike, Randall - Vice President
I WOULD BE HAPPY TO SPEAK TO THAT. THERE WAS AN ARTICLE RIGHT AFTER THAT EXPRESSED THAT SPECIFICALLY. COUNSELORS ARE NOT FINANCIAL ADVISERS. WE DO NOT...
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| 00:32:42 |
none
IT IS A BROADER AND MORE COMPLICATED
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| 00:35:41 |
Christ, Lindsey - Correspondent
MISSION. >> A PERFECT SEGUE THAT I WANTED TO TALK ABOUT NEXT, THE ROLE OF GOVERNMENT IN ALL OF THIS, TALKING ABOUT HOW SCHOOLS AND FAMILIES AND THE GOVERNMENT...
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| 00:35:53 |
Unidentified Speaker
THIS IS A PROBLEM THAT THE PRIVATE SECTOR AND INDIVIDUAL FAMILIES ARE NOT AS MUCH TO
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| 00:37:55 |
Kantrowitz, Mark - Publisher
BLAME FOR. >> THERE IS PLENTY OF BLAME TO GO AROUND. WE HAVE KINDERGARTEN, BEFORE KINDERGARTEN, AND AT THE COLLEGE LEVEL, SOMEONE GRADUATES -- SOMEONE...
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| 00:38:07 |
Unidentified Speaker
NOT CUTTING THE ONE THING THAT IS A REAL
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| 00:41:15 |
Wang, Marian - Correspondent
INVESTMENT. >> ANOTHER THING I WOULD SAY, I WILL GIVE YOU AN EXAMPLE FROM A PARENT LOAN SITUATION. IF YOU GET A CLIENT, YOU FAIL THIS CREDIT CHECK. YOU...
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| 00:41:24 |
Unidentified Speaker
THINK THE FEDERAL GOVERNMENT COULD AND SHOULD TAKE A MORE ACTIVE ROLE IN OVERSEEING >> I SPEND A LOT OF MY DAYS HANGING MY HEAD AGAINST THE WALL WITH...
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| 00:43:16 |
Loonin, Deanne - Attorney
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| 00:46:42 |
Kantrowitz, Mark - Publisher
BENEFITS OF THAT. >> THE EXAMPLE OF $10,000 OF AND COME AND $30,000 OF DEBT, EITHER THEY ARE NOT AWARE OF WHAT THAT MEANS, FOR THERE ARE EXPECTING THE...
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| 00:46:50 |
Unidentified Speaker
WE NEED TO ATTACK THIS FROM
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| 00:48:55 |
Loonin, Deanne - Attorney
EVERY ANGLE. >>
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| 00:49:07 |
Deike, Randall - Vice President
IN THE PROVINCE -- IN THE PUBLIC GOOD MODEL, THE GOVERNMENT FUNDED MOST OF IT. 73% OF THE OPERATING BUDGET CAME FROM THE STATE. WE HAVE TO FIND OTHER...
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| 00:49:36 |
Unidentified Speaker
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| 00:51:03 |
Unidentified Speaker
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| 00:53:16 |
Unidentified Speaker
ACCOUNTS WHERE THEY CAN ADDRESS THE SITUATION. AND IF THEY FAIL, THE BURDENS OF BEING ON THEM. THEY ARE LESS LIKELY TO PURSUE A COLLEGE EDUCATION IF...
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| 00:53:20 |
Kantrowitz, Mark - Publisher
ARE GOING TO IMPACT ACCESS. >> THE POINT BEFORE YOU
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| 00:54:12 |
Unidentified Speaker
GO ON, A LOT OF THAT IS ABOUT COMMUNICATING TO FAMILIES WHAT THIS MEANS. IT IS FAR FROM PERFECT, BUT THEY ARE BORROWING WELL BEYOND THEIR FAMILIES CAPABILITY,...
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| 00:54:42 |
Unidentified Speaker
MOVE ON TO QUESTIONS FROM THE AUDIENCE BECAUSE I WANT TO GET IN AS MANY AS POSSIBLE. I THINK WHAT IS INTERESTING, SO FAR, THERE SEEMS TO BE A LOT OF CHANGES...
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| 00:55:41 |
Q & A
HAS QUESTIONS? >> A COUPLE QUESTIONS. MAYBE PREDATORS IS NOT THE RIGHT WORD, BUT FINANCIAL AGENCIES TAKING A ADVANTAGE OF THE AVAILABILITY OF TWO LOANS,...
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| 00:55:49 |
Unidentified Speaker
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| 00:56:51 |
Christ, Lindsey - Correspondent
WE HAVEN'T GOTTEN INTO THE ISSUES. WE MENTIONED A FOR-PROFIT UNIVERSITIES. THEY ARE GETTING DEGREES THAT ARE WORTHLESS OR THEY ARE CONVINCED TO TAKE...
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| 00:56:56 |
Unidentified Speaker
UNIVERSITY HAS BEEN TELLING PEOPLE TO DO THEIR RESEARCH, AND IT IS AN
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| 00:57:17 |
Loonin, Deanne - Attorney
IMPORTANT PIECE. >> A COUPLE POINTS ON THE PREDATOR PEACE. IF THERE IS ONE THEME THROUGHOUT MY CAREER, IT HAS BEEN SOME OF THE CREDITORS IN THIS INDUSTRY....
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| 00:57:25 |
Unidentified Speaker
GOING TO COME AND AND FULFILL THAT THAT -- COME IN AND FULFILL
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| 01:00:15 |
Kantrowitz, Mark - Publisher
THAT GAP? >> THE AVERAGE AMOUNT PER STUDENT INCREASES WITH INCREASING COLLEGE COSTS. IT IS MUCH MORE LIKELY TO HAVE 1/3 OF YOUR STUDENTS GETTING IN ...
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| 01:00:26 |
Unidentified Speaker
FOR THE
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| 01:02:21 |
Wang, Marian - Correspondent
CAUSE. >> I THINK WE ARE TALKING ABOUT BAD ACTORS IN THE HEYDAY OF PRIVATE STUDENT LENDING MARKETS. WE SAW A LOT OF FAMILIES THAT WERE NOT NECESSARILY...
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| 01:02:28 |
Unidentified Speaker
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| 01:03:45 |
Deike, Randall - Vice President
IN TERMS OF THE TRANSFER STUDENTS, THERE WAS NO DISTINCTION BETWEEN THE COMMUNITY COLLEGES. THEY HAVE DONE RIGOROUS WORK, THEY HAVE DONE WELL, AND WE...
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| 01:03:50 |
Unidentified Speaker
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| 01:04:18 |
Unidentified Speaker
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| 01:04:33 |
Unidentified Speaker
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| 01:05:50 |
Kantrowitz, Mark - Publisher
IT WOULD AS A RESULT OF HIGHER TUITION BECAUSE THE SCHOOLS DON'T NECESSARILY HAVE A SUBSTANTIAL ENDOWMENTS. THE CONSEQUENCE OF BANKRUPTCY DISCHARGE WOULD...
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| 01:05:52 |
Unidentified Speaker
IN OUR GREATEST RESOURCE,
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| 01:07:46 |
Loonin, Deanne - Attorney
WHICH IS OUR PEOPLE. >> THE STUDENT LOANS CAN BE DISCHARGED BECAUSE OF BANKRUPTCY, IT IS JUST EXTREMELY DIFFICULT. BUT ALSO, WHEN YOU LOOK AT HISTORY,...
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| 01:07:54 |
Unidentified Speaker
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| 01:09:41 |
Unidentified Speaker
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| 01:09:47 |
Christ, Lindsey - Correspondent
CONGRESS SHOULD CONSIDER, NOT THAT CONGRESS SHOULD. >> HE OR SHE SAID, I THINK THE MORE IMPORTANT QUESTION TO ASK IS WHY THE U.S. RELIES ON STUDENT...
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| 01:09:55 |
Unidentified Speaker
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| 01:10:05 |
Unidentified Speaker
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| 01:10:25 |
Unidentified Speaker
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| 01:10:53 |
Kantrowitz, Mark - Publisher
HAUNT YOU JUST HAVE TO HAVE $200 BILLION TO SPEND ON IT. WHERE
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| 01:10:58 |
Unidentified Speaker
IS THE MONEY GOING TO COME FROM? FAMILIES, BUT ONLY ONE SOURCE THAT MAYBE HAS THE KIND OF MONEY >> IS A FUNDING PRIORITY. THEIR ARTICLES WRITTEN ABOUT...
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| 01:11:03 |
Deike, Randall - Vice President
AND WHAT ARGUMENTS ARE INEFFECTIVE? >> I AM NOT SURE ANY OF THEM HAVE BEEN ESPECIALLY EFFECTIVE. IT IS ALMOST THE SQUEAKY WHEEL OF WHERE THE DOLLARS HAVE...
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| 01:12:24 |
Unidentified Speaker
NOT JUST HIGHER EDUCATION, IT IS
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| 01:13:42 |
Kantrowitz, Mark - Publisher
K-12. >> IT WAS SUCCESSFUL IN CALIFORNIA THAT INSTITUTED INCREASES IN TAXES FOR A 20% TUITION HIKE BECAUSE YOU CAN ONLY PUSH PEOPLE SO FAR. >> BEEFING...
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| 01:13:50 |
Unidentified Speaker
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| 01:14:09 |
Unidentified Speaker
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| 01:14:24 |
Unidentified Speaker
COSTS, IF WE HIRE PEOPLE THAT ARE DECIDING, THESE PEOPLE, THE SALARY AND THEY EXPECT AN INCREASE EVERY YEAR. THERE ARE SOME INSTITUTIONS THAT ARE LESS...
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| 01:14:30 |
Deike, Randall - Vice President
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| 01:15:07 |
Kantrowitz, Mark - Publisher
MEANS. >> AT THE END OF A RECESSION AND FOR A FEW YEARS, YOU HAVE UNEMPLOYMENT AS A LAGGING INDICATOR. THE STATES HAVE THE HAVE BALANCED BUDGETS. OR THERE...
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| 01:15:22 |
Unidentified Speaker
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| 01:16:36 |
Unidentified Speaker
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| 01:16:58 |
Unidentified Speaker
THE
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| 01:17:10 |
Deike, Randall - Vice President
SCHOOL HAS TO CUT SOMEWHERE. >> WHAT INFLUENCE DO THOSE CUTS HAVE? IT AFFECTS QUALITY OF INSTRUCTION, SERVICES, THE OVERALL QUALITY OF THE EDUCATIONAL...
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| 01:17:19 |
Unidentified Speaker
THIS AREA FOR THE SECOND TERM OF PRESIDENT
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| 01:18:30 |
Kantrowitz, Mark - Publisher
OBAMA? >> I THINK WE STILL HAVE SPLIT CONTROL OF CONGRESS SAID THERE IS A LIMIT TO WHAT HE CAN DO ON HIS OWN. HE WILL TRY TO USE THE REGULATORY PROCESS...
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| 01:18:38 |
Unidentified Speaker
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| 01:19:58 |
Loonin, Deanne - Attorney
ON >>. >> I KNOW THAT THERE IS CERTAINLY AWARE OF IT. THEY HAVE BEEN HEARING ABOUT THIS PROBLEM, THAT IS ONE THING THAT DOES NOT REQUIRE CONGRESSIONAL...
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| 01:20:09 |
Unidentified Speaker
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| 01:21:08 |
Wang, Marian - Correspondent
PRESIDENT OBAMA SAID A LOT ON THE CAMPAIGN TRAIL THAT HE WANTED TO TIE FEDERAL STUDENT AND FEDERAL AID. WE HAVE NOT SEEN SPECIFICS ON THAT. >>
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| 01:21:15 |
Unidentified Speaker
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| 01:21:33 |
Kantrowitz, Mark - Publisher
WE HAVE SEEN SPECIFICS FROM A PRIOR VERSION OF THE PROPOSAL. FOR THE CAMPUS BASED FUNDING, THE PERKINS LOAN, THE GRANT, IT IS THE COLLEGE'S SUCCESS....
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| 01:21:36 |
Unidentified Speaker
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| 01:22:46 |
Christ, Lindsey - Correspondent
THERE IS THE POSSIBILITY OF THE DREAM ACT. I THINK THAT IT IS A BIG POTENTIAL. ANYTHING ELSE? WE HAVE TOUCHED ON SOME OF THIS, AND THERE IS SO MUCH...
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| 01:22:49 |
Unidentified Speaker
AT
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.