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The Crushing Costs of College

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  • Description

    FBN’s Lou Dobbs on the rising costs of college that are leading to mounting student loan debt.

  • Duration 4:15
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-- make college more affordable for our company.

We've got to make sure that you're not saddled with -- certain weren't even gets started.

In life.

That's President Obama urging congress to keep student loan interest rates from skyrocketing this summer.

Interest rates on seven point four million student loans scheduled a double.

From 3.4 percent student loans.

3.4.

Percent right now.

To double the six.

Point 8%.

On.

July 1.

Governor Romney.

Announcing today he also supports that idea and both leaders are right.

Both of them -- right the highlight these soaring cost of higher education in this country.

For the first time ever Americans owe more on their student loans.

Then on their credit cards.

More than one trillion.

This is amazing I think that even conflict.

One trillion -- that's what our students over time have run up.

Average student loan debt is now at 25000.

Dollars each individual.

25000.

Dollars.

Up 25% over the past decade but as with health care federal funding isn't the solution here.

It's responsible for driving up costs since 1985.

Eighths 400 think about -- a 400.

39%.

Increase.

In that cost of how much.

The same time federal subsidies.

Such as pilgrims.

Have soared as well.

475%.

-- there's supposed to be a pale for all of this for all the better expanse.

That -- reports higher paying jobs better job.

But -- a new analysis by the Associated Press.

Shows that one out of two new college graduates are either jobless or underemployed working in a job that doesn't even require.

A degree.

Now this this is a point which we learn the difference between price.

And value.

And the fact of the matter is we can't afford to keep this point.

And what is the tax.

The president is worried about is worried about a doubling in the interest costs when we should be worrying about the fact.

That only one out of two graduates.

Are finding.

A job.

And that.

Is the real tax.

On -- president and administration.

And policies.

That are driving redistribution of wealth.

Rather than the restoration.

-- prosperity and the creation of jobs.

We've all seen the polls by the way -- -- majority of Americans.

Support raising taxes on millionaires and redistributing well.

But what happens when you -- college students to re distribute some other things like.

Their hard earned grades there's OS and in all of -- listen to conservative students posed that very question.

Two students and professors -- Wisconsin's Carthage College.

Isn't here's a -- and -- -- -- expected to college CB distributes -- everybody was caught and sent.

And this is that yeah.

I'm nick swanky instant got back.

You know.

Yeah.

This.

-- didn't.

Because I work hard for -- -- I don't want my.

I don't know I've never really not look at that issue.

And how it's -- him.

Arnett it's we.

Redistribute GPA is yes though I mean it's -- -- you know there's something that -- advisory committee quality content and their and they don't contribute to the -- Well this is bizarre.

I can't thing that.

I love the professionals like I can't find that not many of this cut but so many of -- survey.

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