It’s time to “correct the policy mistakes of the last 40 years,” says John B. King Jr., who served as education secretary under former President Obama.
Broad-based loan forgiveness under Biden would be a modern-day parallel, he said.
Since the 1980s, declining public funds have caused college tuition to skyrocket, leaving many families either with insurmountable student loan debt orAt private four-year schools, average tuition and fees rose 213% in the last 40 years. Tuition plus fees at four-year public schools, which were harder hit, jumped 300% over the same time period.
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