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Mon May 18, 2015, 04:42 PM

Graduating Class of 2015 Most Debt Burdened in History

43 million people are carrying $1.3 trillion in student debt. Josh Hoxie & Mayra Guizar examine the options on the table for dealing with this crisis. - May 18, 2015

Bio

Mayra Guizar is a senior at Western Washington University. She serves on the US Student Association Board of Directors as the Pacific Northwest Regional Chair. Mayra is also vice president of Western Votes! and the elections coordinator for the Western Washington University Associated Students.

Josh Hoxie joined the Institute for Policy Studies in August 2014 heading up the Project on Opportunity and Taxation. Josh's main focus is on addressing wealth inequality through the estate tax, a levy on the intergenerational transfer of immense wealth. Josh grew up on Cape Cod, Massachusetts and attained a BA in Political Science and Economics from St. Michael's College in Colchester, Vermont. Josh worked previously as a Legislative Aide for U.S. Senator Bernie Sanders of Vermont, the longest serving independent in Congressional history, both in his office in Washington, DC and on his successful 2012 re-election campaign.

Transcript

snip*Americans owe $1.3 trillion in student loans, with 43 million people, young, old, and everyone in between burdened with student debt. This debt has shaken the fundamental values of the nation's higher education system. Now the Republicans are proposing to cut $150 billion from student aid in the recently passed budget bill, including freezing the Pell program that helps needy students acquire higher education.

College costs have increased 1000 percent since the '70s. Students are graduating with an average of $25,000 to over $100,000 in debt, and often with an education that will not secure them a good-paying job.

in full: http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=13861

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