AAUP Presents: The Past, Present, and Future of the Student Debt Crisis

AAUP Presents

As student debt has grown astronomically over the past few decades, topping $1.7 trillion in federal and privately held debt, there seemed a moment of (limited) hope over the summer after years of activism and pressure when the Biden administration announced a federal plan to cancel $10K of debt for most federal loan holders and $20K of debt for those who had received Pell Grants. That plan ground to a halt in November when Republican-led courts halted the program. In this episode we discuss the current state of student debt in the U.S., how we got here, and where we could go next.

The episode's guests are Elizabeth Tandy Shermer, an associate professor of history at Loyola University Chicago and the author of Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt, and Charlie Eaton, an associate professor of sociology at the University of California, Merced, where he co-founded the Higher Education, Race, and the Economy Lab. He is the author of Bankers in the Ivory Tower: The Troubling Rise of Financiers in US Higher Education.
Links:

• “American Higher Education’s Past Was Gilded, Not Golden," Elizabeth Tandy Shermer, Academe, Fall 2022
• “Student Debt Cancellation on Campus," Charlie Eaton, Academe, Fall 2022
• College Score Card from the Department of Education with information on debt held by students
• "The Private Side of Public Universities: Third party providers and platform capitalism," Laura T. Hamilton, Heather Daniels, Christian Michael Smith, and Charlie Eaton, University of California, Merced, Berkeley Center for Studies in Higher Education, June 2022
• Information on SUMMER debt counseling from the AAUP
• The Debt Collective
• Cancel My Student Debt

Visit our website aaup.org for more information on our work.