90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Joseph Stiglitz On Student Debt And The American Dream

Nobel-prize winning economist Joseph Stiglitz on how student debt is crushing the American dream, and what to do about it.

Graduates from various institutions take part in the Toss Your Caps: Philly Graduates College photo opportunity on the steps of the Philadelphia Museum of Art Friday, May 20, 2011, in Philadelphia. (AP)

Graduates from various institutions take part in the Toss Your Caps: Philly Graduates College photo opportunity on the steps of the Philadelphia Museum of Art Friday, May 20, 2011, in Philadelphia. (AP)

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.

- Tom Ashbrook

Guests

Tamar Lewin, higher education reporter for the New York Times. (@tamarnyt)

Joseph Stiglitz, Nobel-Prize-winning economist. University Professor at Columbia University and Co-Chair of Columbia University’s Committee on Global Thought. His recent op-ed in the New York Times was, “Student Debt and the Crushing of the American Dream.”

Closing Segment

A selection from Annie Lennox’s commencement address at the Berklee College of Music in Boston.

From Tom’s Reading List

The New York Times: Student Debt and the Crushing of the American Dream — “The crisis that is about to break out involves student debt and how we finance higher education. Like the housing crisis that preceded it, this crisis is intimately connected to America’s soaring inequality, and how, as Americans on the bottom rungs of the ladder strive to climb up, they are inevitably pulled down — some to a point even lower than where they began.”

Time: Elizabeth Warren: Students Should Get the Same Rates as the Bankers — “Consumer protection maven Sen. Elizabeth Warren, D-Mass., introduced her first piece of legislation this week, a proposal that would allow students to take out government educational loans at the same rate that big banks pay to borrow from the federal government.”

The Huffington Post: Obama Student Loan Policy Reaping $51 Billion Profit —  “The Obama administration is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets.”

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Nov 26, 2014
Getting together with your family and loved ones at Thanksgiving and the holidays doesn't have to lead to  arguments and fights. (Meg Hunt / Flickr)

The Thanksgiving get-together and all the family drama trimmings. Sage advice from advice columnists.

Nov 26, 2014
A 1597 map of Lesbos / Mytilene, Greece by Giacomo Franco. (Flickr / Creative Commons)

How Aristotle invented science. The great ancient Greek, and life on Earth.

RECENT
SHOWS
Nov 25, 2014
A 40-pound tom turkey looks out at Raymond's Turkey Farm in Methuen, Mass., Friday, Nov. 21, 2014. The farm raises approximately 20,000 Broad Breasted White Holland turkeys per year. (AP)

We’ll talk turkey and all the sides. Top chefs join us to answer your Thanksgiving questions.

 
Nov 25, 2014
A protester squirts lighter fluid on a police car as the car windows are shuttered near the Ferguson Police Department after the announcement of the grand jury decision not to indict police officer Darren Wilson in the fatal shooting of Michael Brown, an unarmed black 18-year-old, Monday, Nov. 24, 2014, in Ferguson, Mo. (AP)

Grand Jury decision out of Ferguson — no indictment. We’re on the ground with the latest details and reaction.

On Point Blog
On Point Blog
Last-Minute Thanksgiving Luxury
Tuesday, Nov 25, 2014

Our three Thanksgiving chefs offer up their best bets for delicious, last-minute holiday helpers, including a crunchy celery salad and maple glazed carrots.

More »
Comment
 
Calling All Interns, Calling All Interns
Monday, Nov 24, 2014

Have you ever thought about interning with On Point Radio? Good news: your time is now!

More »
Comment
 
The Explicast, Episode Six: What Does A White House Press Correspondent Do?
Friday, Nov 21, 2014

We turn to White House Press Correspondents all the time for news, but we’ve never really wondered how they gather their information. Fortunately, our guest host Jessica Yellin had time to sit down with The Explicast to explain.

More »
1 Comment