Price of Admission. America's College Debt Crisis

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Description

Is higher education cultivating the next financial bubble? This CNBC Original documentary goes inside America's student loan industry - a seemingly benign system that could potentially echo the mortgage meltdown of recent years, since it displays little or no regard for a borrower's ability to repay. Viewers meet students, lenders, school administrators, and American families with firsthand knowledge of the brewing crisis - as well as U.S. Secretary of Education Arne Duncan, who addresses concerns that the nation's college debt load is creating a new class of borrowers and debtors. The program also examines Sallie Mae, which is remaking itself into a servicing company for both public and private loans, and a company called HigherOne, which allows students to access borrowed funds in the form of a debit MasterCard. The dramatic rise of for-profit universities is also a topic.