The Dig Student Debt w/ Ryann Liebenthal, Chenjerai Kumanyika, Mike Pierce
Jun 17, 2025
Astra Taylor hosts a thought-provoking discussion with Ryann Liebenthal, a passionate advocate on student debt, Chenjerai Kumanyika, a seasoned journalist and professor, and Mike Pierce, the executive director tackling predatory lending. They delve into the origins and transformation of student debt in the U.S. and critique the shortcomings of current political responses. The conversation sheds light on the emotional toll of debt, the failures of for-profit colleges, and emphasizes the urgent need for systemic reforms and collective action to reshape higher education.
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Student Loans: A Budget Trick
- Federal student loans were initially guaranteed but made by private banks using a budget trick.
- This scheme hid true costs and incentivized private profit over accessible education funding.
Sallie Mae's Profiteering Corrupts
- Sallie Mae started as a government-private entity to fund student loans but evolved into a profit-driven lender.
- Profit incentives corrupted education lending by exploiting students.
Reagan’s Tuition to Control Students
- Reagan used tuition and debt to discipline student activism and shift higher ed towards economic utility.
- His policies began dismantling tuition-free college and suppressing campus dissent.
