"Nobel-prize winning economist Joseph Stiglitz on how student debt is crushing the American dream, and what to do about it.
It’s cap and gown time all over the country. And since it’s this country, that means a lot of new young college graduates graduating with a lot of debt. $26,000 on average now for student loan borrowers. In total, more than a trillion dollars in student debt. Famously more student debt now in this country than credit card debt.
Nobel prize-winning economist Joseph Stiglitz says this isn’t just an astonishing number. It’s a real drag on the US economy, and a real promoter of US inequality. It’s got to change, he says.
This hour, On Point: Nobel laureate Joe Stiglitz on student debt in America."