Price of Admission: America's College Debt Crisis
CNBC
Is higher education cultivating the next financial bubble? This CNBC Original documentary goes inside America’s student loan industry—a seemingly benign system that could potentially echo the mortgage meltdown of recent years, since it displays little or no regard for a borrower’s ability to repay. Viewers meet students, lenders, school administrators, and American families with firsthand knowledge of the brewing crisis—as well as U.S. Secretary of Education Arne Duncan, who addresses concerns that the nation’s college debt load is creating a new class of borrowers and debtors. The program also examines Sallie Mae, which is remaking itself into a servicing company for both public and private loans, and a company called HigherOne, which allows students to access borrowed funds in the form of a debit MasterCard. The dramatic rise of for-profit universities is also a topic.