Betsy DeVos: America’s $1.5 trillion student-debt problem is ‘stealing from future generations’

The question of whether America’s $1.5 trillion student loan problem represents a national crisis or simply a financial challenge for some has been a source of controversy over the past several years.

On Tuesday, Secretary of Education Betsy DeVos weighed in: “I’m here to raise a warning flag with American students and American taxpayers: We have a crisis in higher education,” she told an audience of financial aid professionals gathered in Atlanta for the Federal Student Aid training conference.

The speed with which the nation’s outstanding student debt grew, essentially doubling in just six years, as well as the challenges borrowers face paying off their loans — roughly 43% of borrowers haven’t made progress paying down their debt, according to DeVos’s speech — are signs of this crisis, DeVos said.

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