Senator Warns Of A Student Loan Bubble

Career College Central summary:

  • Each year, the federal government provides more than $150 billion in grants and loans to help students pay for college. And while , young people are taking on record levels of debt to earn that degree. That was the backdrop for a Senate hearing yesterday on reauthorization of the Higher Education Act, the 1965 law that governs the federal financial aid system.
  • Sen. Tom Harkin, D-Iowa, is the chairman of the Health, Education, Labor and Pensions Committee. He tells NPR that for-profit, public and private colleges and universities should be more accountable for the federal student aid they receive.
  • Click through to listen to the story.


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