How American Student Loans Morphed from a Hand-Up to Hopelessness

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The Federal Student Loan program first began in 1965. It was intended to make student loans accessible to all, to make the American Dream – going to college and earning more money – possible for everyone. A Federal American Student Loans program was supposed to be the great economic and opportunity equalizer… but somewhere along the way, things went awry. Today, student loans are the fastest-growing category of household debt, burying younger generations financially, and leaving them hopeless to achieve the financial milestones of their parents and grandparents, never mind beating them. How did we get here? On this week’s episode of the Finance Explained podcast, we talk the history of the federal student loans program, potential ways forward, and why we haven’t seen student loan forgiveness yet, with The Debt Trap author, Josh Mitchell.

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About Meghan

Meghan spent nearly a decade as a Financial Analyst, before spending the last 7+ as a SAHM to three little ones. She shares simple money tips for moms to help your family reach your financial goals by building a financial plan you can LIVE with! You can learn more about her background in finance, catch her daily on Instagram and Facebook, and her weekly live discussions in her community for Family Finance Moms.


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