Higher Education: Understanding The National Student Loan Debt - E-book - ePub

Higher Education: Understanding the National Student Loan Debt picks up in 1940 and how student aid lending changed from being fiscal conservative. Prior to 1925 if you did not have money, you did not attend college, there were no Grants and during the 1940's, there were only two ways to pay for college either with Grants or the Servicemen Readjustment Act which was later changed to the G. I. Bill.
By the end of the 1950's Congress was moving the responsibility of student aid lending more to the federal government. The Johnson Administration changed educational lending with his War on Poverty which included the Educational Opportunity Grants program in 1965 and by 1972 educational funding was in chaos with too much money being pulled from the federal treasury that to offset this debt private sectors had to be created.
In 2019 there are too many funding options to pay for college and too many people involved in student aid lending and too many students in debt which has caused the National Student Loan Debt to go above 1.5 trillion dollars.