Doug Criscitello, Executive Director of the MIT Golub Center for Finance and Policy and a Senior Lecturer at the MIT Sloan School of Management, talks about the proliferation of student loans in the American economy – 40 million Americans have student loans today. Total indebtedness is approaching $1.3 trillion and it has become the second largest source of consumer debt behind only mortgages. The US government’s role in providing student loans has fundamentally shifted in recent years, especially after the financial crisis. How does this shift change expectations on the part of the borrower and how has the government responded?
To read the accompanying op-ed, please click here.