Angela Sloan, CEO, and Founder of, Sloan Financial Group, discusses with Kurt Schemers and Don McKelvey on how the student loan debt has exceeded 1.2 trillion dollars (US) with over 7 million debtors in default. Given the current political cycle, and the candidates for the Democratic Party floating around the notion that student debt should be forgiven, and free education, we ask is there really a crisis.
Sloan does feel that a student loan crisis is coming and provides several example of “extremes – one end to the other” on how student loans have weighed on those that pursued college degrees.
And, with those examples, it actually sounds like people are living the American dream; being educated, buying a house, and having children.
So we ask, is taking on debt a crisis, or merely bad planning decisions on those affected? We poise these questions and more as we dig into the “student loan crisis” of America.