►
Description
The third meeting of the Higher Education Virtual Meeting Series: Addressing the COVID-19 Pandemic. Don Baylor Jr, Annie E. Casey Foundation, Whitney Barkley-Denney, Center for Responsible Lending & Tim Shaw, Aspen Institute provide insights on the impacts of student loan debt during and after the COVID-19 Pandemic.
A
A
A
A
A
A
I
do
want
to
also
encourage
you
if
you
came
looking
for
an
answer
to
a
specific
question
about
student
loan
debt.
Please
enter
it
in
the
chat
box
and
we'll
have
time
to
discuss
after
our
main
speakers
today
and
finally,
I
wanted
to
just
share
that
there
were
more
than
60
state
legislators
and
legislative
staff
who
registered
for
today's
virtual
meeting,
and
that
really
indicates
the
importance
of
the
issue
of
student
loan
debt
for
state
policy
makers.
So
thanks
so
much
to
all
of
you
for
joining
us
next
slide.
A
Please
andrew
here
is
a
quick
look
at
the
agenda
for
days
for
today's
60-minute
virtual
meeting
and
that's
another
look
at
that
capital
so
we'll
introduce
our
experts.
You'll
get
some
high
level
up
to
date,
information
about
the
impact
of
student
loan
debt
and
then
we'll
talk
about
policy
solutions.
A
It
is
it's
arizona,
isn't
that
beautiful
great
great.
So,
let's
get
started
thanks
for
playing
along.
Let's
transition
conversation
today
next
slide
so
glad
to
introduce
our
guest
speakers
for
this
meeting,
each
of
whom
will
spend
some
time
providing
their
perspective
on
how
state
policy
solutions
to
the
student
debt
crisis
can
meet
the
moment
that
we're
at
here
really
help
students
and
states
get
through
the
pandemic
and
come
out
stronger.
A
B
Thank
you
very
much
sunny
and
I
really
appreciate
the
the
warm
up
quiz
and
I'll
have
to
admit
that
one
of
my
sub
hobbies
is
to
visit
state
capitals
around
the
country.
So
I
was
glad
to
know
that
I
did
not
know
that
one,
because
I
had
not
visited
it,
so
it
was
really
so
no
so
now
I
now
learned
a
little
bit
this
morning.
So
thank
you
very
much
sunny
and
I
just
want
to
talk
a
little
bit
about
any
casey
foundation.
B
We
are
a
national
foundation
working
to
create
brighter
futures
for
young
people
and
their
families,
and
we
have
had
a
long-standing
relationship
and
partnership
with
ncsl,
and
this
particular
partnership
and
focus
around
student
debt
is
something
that
is
relatively
new,
but
we
feel
like
it
is
really
meeting
the
moment
in
terms
of
where
state
policy
makers
are
as
well
as
student
loan
holders.
It
is
certainly
a
time
of
increasing
focus
on
this
issue,
so
just
want
to
talk
a
little
bit
about
why
amy
casey
has
invested
in
this
first
off.
B
You
see
dramatic
disparities
with
regard
to
race
and
ethnicity.
So
that's
certainly
number
one.
The
other
thing
that
we
looked
at
in
terms
of
not
just
young
people,
but
overall
financial
security
student
loan
debt
was
becoming
a
drag
on
financial
security
in
terms
of
home
ownership
as
well
as
retirement.
A
Thank
you
don
for
that
wonderful
introduction.
It's
my
great
pleasure
now
to
ask
whitney
barkley
denny
to
join
us.
She
is
a
senior
policy
counsel
for
the
center
for
responsible
lending
where
she
works
with
state
legislatures,
attorneys,
general
and
governors
to
fight,
predatory
lending,
exploitative
student
loan
practices
and
unscrupulous
debt
collectors
whitney.
We
really
look
forward
to
hearing
the
information
you
have
to
share.
Thank
you
for
being
here.
C
Great,
thank
you
all
for
having
me.
I'm
really
excited
to
be
here,
but
also
I
like
to
give
all
of
my
talks
with
a
warning
that
I
don't
have
a
lot
of
good
news,
so
I
apologize
for
that
at
the
beginning.
Here
go
ahead
and
go
on
to
my
slide
deck.
If
you
don't
mind,
thank
you.
You
can
go
to
the
next
slide.
That's
fine!
C
C
However,
some
of
the
choices
made
particularly
to
cut
state
aid
for
public
colleges
and
community
colleges,
post
2008,
really
had
the
effect
of
driving
the
wealth
gap
and
driving
the
gap
between
how
students
of
color
are
able
to
deal
with
their
student
loans
and
the
student
loan
burdens
that
they
are
taking
on
and
the
way
white
families
were
able
to
deal
with
those.
So,
let's
dive
in
a
little
bit,
but
I
want
you
to
keep
that
in
mind
as
we
go
through
this
so
currently
outstanding
student
loan
debt,
we
think,
is
at
about
1.6.
C
This
is
1.5
between
1.5
and
1.6
trillion.
Most
of
that
is
public.
A
federal
student
loan
debt
about
90
of
that
is
federal
student
on
that
good
and
borrowers
aren't
handling
it
very
well.
55
of
us
undergraduates
who
borrowed
are
unable
to
pay
down
any
debt
in
the
first
three
years
and
you'll,
see
as
we
get
further
away
from
graduation.
C
Long
gone
are
the
days
of
being
able
to
work
over
the
summer
at
a
minimum
wage
job
and
pay
for
your
college
education
as
you
go.
The
appscu
in
pennsylvania
had
a
great
graphic.
Last
year,
that
did
they
did
the
calculations
and
found
that
it
would
take
15
summers
of
working
at
a
minimum
wage,
a
job
and
never
using
that
money
for
anything
other
than
your
tuition
to
be
able
to
support
yourself.
C
You
can
go
forward,
okay,
so
what
has
driven
this
rapid
increase
that
we've
seen
in
borrowing
part
of
it
was
enrollment
growth,
particularly
after
the
last
recession,
where
people
were
trying
to
find
new
skills
and
going
back
into
schools
to
do
that.
Part
of
it
was
expanded
eligibility
for
federal
loans
to
more
people,
but
the
loans
are
also
in
larger
amounts.
C
C
Okay,
so
what
do
we
know
about
student
loan
debt?
We
know
that
it
has
a
disproportionate
impact
on
economically
vulnerable
populations,
so
on
veterans
on
seniors,
female
heads
of
household
and
communities
of
color,
one
of
the
ways
that
we
see
this
is
a
recent
study
by
the
american
association
of
university
women,
which
found
that
two-thirds
of
outstanding
student
loan
debt
is
held
by
women.
So
student
loan
debt
is
very
much
a
women's
issue.
C
I
won't
go
through
all
of
the
all
of
the
points
here
on
all
of
the
bullets
in
the
interest
of
time,
but
it's
really
important
to
remember
that
this
is
a
reflection
of
the
wealth
gap
as
it
already
exists,
white
families
tend
to
have
more
money
to
give
to
borrowers.
What
sandy
dairy,
dr
sandy
darity
would
call
these
in
vivo
transfers
of
wealth.
C
C
Okay,
so
not
to
continue
to
make
everybody's
day
a
little
less
sunny,
but
black
borrowers
not
only
borrow
more
than
other
students
for
the
same
degrees,
they're
more
likely
to
drop
out
or
stop
out
without
receiving
a
degree,
and
we
find
this
to
be
true
that
debt
and
default
is
worse
among
black
college
students,
even
when
you
control
for
that
degree.
So
if
you
control
for
a
bachelor's
degree,
black
ba
graduates
default
at
five
times
the
rate
of
white
ba
graduates
and
are
more
likely
to
default
even
than
white
dropouts.
C
C
C
Now
most
universities
and
institutions
have
not
recovered
still
the
amount
of
state
funding
that
they
had
pre-2008
crisis.
So
we
are
starting
in
a
hole
and
if
there
are
more
cuts
to
higher
education,
that
hole
is
going
to
become
deeper
and
deeper
and
deeper,
and
if
institutions
continue
to
make
up
that
hole
with
tuition
pricing,
then
I
think
that
we're
going
to
continue
to
see
this
gap
grow
between
families,
mostly
white
families,
who
can
afford
a
college,
education
and
black
families
and
families
of
color
who
rely
heavily
on
borrowing
in
order
to
achieve
higher
education.
C
So
I
think
that's
number
one
and
number
two.
We
are
already
seeing
that
black
families,
in
particular,
are
in
a
greater
crisis
over
covet
19
than
most
white
families,
both
from
the
health
effects
of
coven
and
which,
which
we're
seeing
real
disparity
in
the
ability
of
black
communities
to
recover
their
health.
From
covid,
but
also
in
job
laws
from
covid,
so
you
can
see
over
here
from
the
pew
research
center.
How
covet
effects
are
breaking
down
demographically?
C
C
They
pulled
their
members
to
find
out
how
they
were
dealing
with
covid
in
respects
to
higher
education
and
found
that
a
very
unsurprising,
but
still
devastating
number
of
them-
have
decided
not
to
continue
their
higher
education
at
the
moment
because
of
the
results
of
covid
and
as
we
know,
stopping
or
pausing
your
college.
Education
is
one
of
the
worst
risk
factors
for
dropping
out
altogether.
C
Okay
go
forward,
so
we're
going
to
talk
about
state
relief
and
I'm
going
to
let
tim
talk
about
that.
He
does
a
great
job
of
it,
but
I
wanted
to
just
bring
your
attention
to
relief
that
could
help
all
borrowers.
That's
federals!
You
don't
even
have
to
worry
about
it
in
your
state
budget.
You
could
just
support
it
at
the
federal
level,
and
that
is
borrower
cancellation.
C
57,
so
we
we
looked
at
these
numbers
first
with
ten
thousand
dollars
in
across
the
board
cancellation
and
then
with
twenty
thousand
dollars
and
across
the
board.
Cancellation
of
student
loan
debt
and
the
numbers
are
not
as
big
as
you
think
so.
57
percent
of
delinquent
direct
loan
borrowers
currently
owe
20
000
or
less
that's,
because
the
less
money
you
took
out
to
go
to
school,
the
less
likely
it
is
that
you
completed
the
degree.
C
B
C
C
If
we
do
10
000
to
19,
000
47.6
will
receive
total
forgiveness
and
if
we
just
bump
that
number
up
to
30
000
60.3
percent
of
borrowers
will
receive
total
forgiveness.
So
we
don't
have
to
talk
about
a
hundred
thousand
dollars,
200
000
in
cancellation
for
grad
students.
We
can
have
a
huge
impact
with
much
smaller
amounts
of
across
across-the-board
cancellation,
and
I
think
that
is
the
end
of
my
presentation.
C
Oh
I'm
sorry,
one
more
so
we've
been
pulling
on
this
since
we
started
talking
about
it
and
I
have
to
tell
you
it's
something
that
you
don't
usually
see
in
all
of
our
lines
of
work.
Five
years
ago,
if
you
had
said
that
we
were
going
to
be
talking
about
student
loan
debt
cancellation,
everyone
would
have
laughed
you
out
of
the
room.
C
It
was
a
non-starter
politically,
but
now
we're
starting
to
see
that
shift,
and
we
are
seeing
that
voters
of
both
parties,
both
on
state
level
polls
and
national
polls,
support
twenty
thousand
dollars
in
student
debt
reduction
in
the
next
pandemic
relief
package.
And
I
don't
suppose
that
those
numbers
would
change
if
it
came
out
of
the
pandemic
relief
package
and
was
just
you
know,
an
independent
bill
for
at
least
twenty
thousand
dollars
in
student
loan
debt
reduction
and
we
have,
if
you
are
in
pennsylvania
or
north
carolina.
A
Thank
you
whitney
that
was
so
great,
so
interesting,
a
really
great
introduction
to
the
big
issues
and
then
thank
you
for
some
interesting
research
that
I
look
forward
to
digging
into
and
the
timeliness
of
some
of
those
impacts
of
covid
on
these
populations.
Excellent.
So
thank
you
very
much
so
we'll
circle
back
for
a
discussion
at
the
end,
but
I
want
to
introduce
now
tim
shaw.
D
Thanks
ernie
and
thanks
donnie
whitney
for
those
great
overviews
of
kind
of
why
we're
here?
If
you
go
go
into
the
slides
and
to
the
to
the
second
slide,
I
want
to
start
a
little
bit
with,
with
kind
of
who
we
are,
and
so
whitney
has
done.
This
great
great
look
into
student
debt
and
donna's
kind
of
talked
about
how
annie
casey
has
gotten
into
this
work,
and
I
want
to
thank
don
and
the
nae
casey
foundation
for
supporting
this,
because
I
think
we've
been
on
very
similar
journeys.
D
Our
goal
is
to
look
at
policy
issues
from
the
perspective
of
the
household
budget.
So
what
is
really
weighing
on
households
and
families
right
now?
How
are
they
experiencing
these
kind
of
macroeconomic
stats
that
we
hear
about,
and
then
how
do
we
use
that
as
the
lens
to
prioritize
policy,
action
and
market
innovation
going
forward?
D
D
Entering
the
pandemic,
40
of
households,
not
individuals,
but
households
got
by
on
33,
000
or
less
39
of
americans
couldn't
come
up
with
400,
without
borrowing
or
selling,
something
and
and
one
in
five
or
almost
one
in
four
had
no
emergency
savings.
So
the
even
though
we
had
seen
this
wage
growth
and
and
people
were
starting
to
gain
traction
after
this
long
expansion,
people's
underlying
financial
security
and
their
ability
to
take
on
risk
had
really
not
really
caught
up.
D
That
means
thinking
not
just
about
gdp
growth
and
wages
and
those
sorts
of
things
and
jobs.
Those
are
important.
We
should
also
look
directly
at
issues
of
wealth
and
student
debt
and
debt
are
kind
of,
from
my
perspective,
an
underlooked
issue
when
it
comes
to
driving
those
trends
forward.
Next
slide,
please
so
a
bit
of
a
jennifer.
D
Let
me
do
an
overview
of
each
of
those
their
solution
sets
and
then,
if
we
have
time,
sonny
has
seen
me
talk
before
and
she
said
last
time.
I
know
you
can
fill
time
so
I'll.
Try
to
keep
it.
Try
to
keep
it
brief,
but
if
we
have
time
we'll
go
to
deep
dive
on
a
couple
of
specific
ones,
next
slide,
please
so
so.
D
Principles
for
student
debt
solutions
as
you're
trying
to
to
think
about
kind
of-
and
we
know
you're
going
into
this
with
a
budget
hits
and
trying
to
make
the
best
of
limited
resources
at
the
state
level.
We
like
to
come
up
with
these
principles
so
that
you
can
think
about
how
to
best
target
that
network.
First,
we
as
as
is
not
going
to
be
surprised,
want
to
talk
about
focusing
on
financial
security
outcomes.
D
So
not
the
the
the
stats
on
defaults
and
balances
and
amounts
are
really
are
really
important,
but
you
should,
but
also
we
want
to
think
about
how
these
solutions
address
the
broader
picture
of
the
household
budget.
Are
they
able
to
buy
home
afterwards
or
save
up
and
those
sorts
of
stats?
The
second
is
to
build
in
data
collection
and
evaluation.
D
Those
with
low
balances
whitney's
chart
on
kind
of
how
many
people
would
be
helped
by
even
relatively
low
amounts
of
student
cancellation
really
gets.
To
this
point,
the
the
stat
I
like
to
cite
is
that
66
percent
of
people
who
are
defaulting
on
their
student
loans
have
less
than
ten
thousand
dollars
in
debt.
So
we
look
at
the
really
just
people
in
really
distress
who
are
really
having
difficulty
paying
it
off.
It's
usually
the
people
with
low
balances,
not
always
but
usually,
and
so
what
that
implies.
D
Is
that
things
that
really
only
help
people
with
high
balances
often
misses
some
of
those
folks
who
are
really
in
need
and
that
you
need
to
take
that
into
consideration
when
you're
thinking
about
you
know
whether
to
limit
certain
policies
to
just
folks
with
high
balances,
address
the
true
circumstances
of
today's
students.
I
think
it's
you
all
probably
know
this
as
folks
who
work
directly
with
constituents,
but
I
am
often
surprised
by
how
many
folks
have
a
stereotypical
idea.
D
What
a
college
student
looks
like
and
therefore
what
a
borrower
looks
like
most
folks
who
go
to
school.
64
are
employed,
they're,
not
kind
of
four-year
students
who
are
just
kind
of
getting
that
experience
taking
on
this
debt
and
doing
nothing
else,
they're
trying
to
work
through
it
and
so
solution
should
should
address
that
real
circumstance.
D
One
in
four
have
a
have
a
kid,
so
there
are
their
families,
not
just
kind
of
young
folks
at
18,
going
right
into
school
and
40
percent
of
folks
work
full
time,
and
so
again
thinking
about
the
comprehensive
lives
of
students
and
borrowers
is
critical.
Prioritizing
equity
is
really
important.
Whitney
gave
the
whole
list
of
reasons
that
we
need
to
think
about
racial
equity
and
the
wealth
gap.
D
When
we're
talking
about
these,
so
I'm
not
going
to
repeat
those
for
you,
but
but
you
you
know
that
they're
important
and
I
want
to
support
all
of
the
the
comments
that
whitney
made
along
those
lines
and
then
also
provide
options
for
non-completers
in
a
different.
In
addition
to
low
balances,
being
an
important
thing
to
focus
on
54
of
delinquent
loans
are
non-completers.
D
D
Are
there
ways
we
can
target
that
for
them
to
go
back
and
complete
that
degree
so
that
they
can
get
the
gains
out
of
having
an
undergraduate
degree
and
help
them
pay
off
that
student
loan
balance?
So
those
are
kind
of
the
broad
principles
that
we
went
into.
These
solution
sets
with
next
slide.
Please,
and
then
we
thought
about
it.
We
always
find
again
helpful
to
have
these
frameworks
in.
In
what
ways
are
you
addressing
student
debt
for
from
the
borrower
perspective,
and
there
were
three
three
ways
we
came
up
with.
D
One
was
reduce
out-of-pocket
cost
of
attendance,
so
the
less
that
you
have
to
actually
borrow
up
front
is
the
most
effective
way
to
reduce
how
much
that
that
dollar
of
extra
debt
is
going
to
cost,
and
so
there's
a
set
of
solutions.
There,
the
second
is
protecting
students
as
they
navigate
existing
debt.
So
if
you
have
debts
how
what
is
the
servicing
experience
like?
D
Are
you
actually
getting
the
options
that
are
available
to
you
in
a
way
that
that
makes
sense,
and
they
point
you
to
the
right
option
and
the
last
is
decreasing
existing
student
debt
burning
so
for
folks
who
already
have
that
debt?
How
are
you
addressing
that
and,
as
I
said
before,
focus
should
focus
solutions
on
low-income
borrowers
and
borrowers
of
color
next
slide.
Please.
D
So
I'm
going
to
start
with
the
we
in
our
paper.
We
have
a
list
of
options
for
states
and
it's
definitely
worth
so.
You'll
have
the
link.
I
think
that
sonny
has
already
sent
it
out
that
we
go
into
a
little
bit
more
detail
on
each
of
these
that
come
from
a
look
at
kind
of
what
you
all
are
already
doing.
I
would
also
highly
recommend
the
ncsl
tracker
of
legislation
that
gives
a
really
great
great
overview
of.
What's
going
on
in
different
states.
D
You
all
picked
it
up
too,
so
the
kind
of
options
on
the
table
here,
the
most
straightforward,
is
need
based
aid
and
grant
programs.
Obviously
these
offset
the
cost
of
attendance
for
students.
Many
of
you
are
already
doing
these
sorts
of
programs,
but
I
think
it's
worth
saying
to
whitney's
points
about,
like
the
the
amount
of
funding
being
cut
for
schools,
in
that,
since
the
great
recession
like
these
most
direct
programs
are
still
things
you
should
be
thinking
about
to
directly
address
costs.
D
In
addition
to
kind
of
more
innovative
things
that
you
might
be
thinking
about
now,
free
college
programs
and
promise
programs
again
many
states
have
these
programs
as
well
also
reduce
the
need
to
incur
debt
for
school.
Dual
enrollment
programs
are
similar.
This
is
where
you
allow
high
school
students
to
obtain
post-secondary
credits
at
no
or
low
cost.
D
There's
a
and
a
lot
of
these
are
ways
to
to
fund
some
of
this
offsetting
of
cost
without
with
less
expenditure
on
the
state
government's
part,
four-year
community
college
programs,
mandatory
fafsa
initiatives
and
college
saving
accounts
are
kind
of
the
last.
The
last
three
that
we
came
up
with
in
our
report
on
this
this
last
one
for
college
savings
accounts.
D
Account
is
going
to
help
people
a
lot
of
people.
Don't
have
the
money
either
to
save
or
aren't
going
to
get
the
tax
benefits
from
it
because
they
don't
have
the
income
too.
But
if,
if
we're
thinking
more
innovatively
about
like
really
seeding
that
money
up
front,
there
are
ways
to
do
that
next
slide.
D
D
So
these
there
are
a
couple
of
ways
to
help
state
to
help
students
navigate
their
their
existing
debt
burdens.
One
is
student
loan
servicing
legislation
regulation.
This
has
become
a
trend
recently
that
for
additional
student
borrower
bill
of
rights
that
allow
students
to
have
additional
protections
when
it
comes
to
their
servicing
experience
for
their
loans
and
make
making
sure
that
student
loan
servicers
are
getting
the
right
information
to
to
borrowers,
and
the
second
is
re-enrollment
programs
to
encourage
folks
who
have
debts
who
have
not
was
not
able
to
complete
a
degree.
D
So
talked
a
little
bit
about
re-enrollment
programs.
We
didn't
find
many
or
any
at
the
state
level
that
have
been
implemented
but
wanted
to
include
it,
because
we
do
think
it's
an
innovative
and
interesting
idea
to
address
some
of
the
folks
who
are
most
in
need.
So
the
the
example
we
found
is
the
warrior
way
back
program
that
enables
some
folks
who
dropped
out
of
school
to
come
back
and
as
an
incentive
right
off
some
of
the
debt
that
they
took
when
they
went
to
school.
D
This
is
a
some
of
the
benefits
here
are
because
of
that
it
can
be
a
net
positive
for
revenue,
even
while
offering
debt
forgiveness,
because
they're
going
back
to
school,
they'll,
get
that
wage
bump
and
they'll
also
kind
of
start
paying
back
into
the
system
and
hopefully
come
out
better,
ideally
come
up
better
at
the
other
end
of
it,
and
also,
as
I
mentioned,
target's
kind
of
a
critical
and
need
population
which
are
non-completers
next
slide.
Please.
D
I
also
wanted
to
spotlight
this
idea
of
a
a
student
borrower
bill
of
rights,
and
often
this
comes
with
a
student
loan
ombudsman.
I
feel
a
little
shy
about
talking
about
this,
because
whitney
is
a
real
expert
on
this
and
a
really
in-depth
report
that
we
we
used
extensively
to
base
this
piece
of
work
on,
but
13
states
have
paid,
have
have
passed
oversight.
D
Legislation
like
like
this,
that
create
student
borrower
bill
of
rights,
and
they
do
things
like
creating
making
sure
or
requiring
servicers
to
assess
borrowers
for
their
eligibility
for
income-driven
repayments,
instead
of
just
putting
out
them
onto
forbearance
that
that
sort
of
thing
is
really
important
so
that
borrowers
know
their
options
going
into
kind
of
times.
When
they're
looking
for
student
debt
relief,
it
can
also
provide
a
student
loan
ombudsman
so
to
collect
complaints
from
borrowers
in
your
state.
D
When
someone
has
debt,
how
how
can
you
offset
those
costs
on
the
back
end?
There
are
a
few
different
tax
ways
to
use
your
tax
code
to
get
there.
Obviously,
individual
tax
expenditures-
there
are
a
couple
states
that
have
directly
reduced
the
tax
liability
of
borrowers
that
off
specifically
to
offset
student
loan
payments,
employer,
tax
credits
and
deductions.
I
think
it's
important
to
mention
that
more
and
more
employees
are
are
calling
for
student
debt
payments
as
in
benefit
from
their
jobs
and
so
helping
those
employers
set
up.
D
Those
programs
can
be
an
interesting
way
to
to
get
more
relief
to
borrowers
through
the
through
the
employment
system
and
through
the
benefit
system.
Whitney
talked
about
kind
of
broad
based
student
debt
cancellation.
Obviously
that's
less
feasible
with
state
in
the
state
budget
context,
but
there
are
a
number
of
states.
D
There's
targeted
loan
repayment,
which
is
kind
of
the
flip
side
of
tax
expenditures
or
forgiveness
programs
that
help
kind
of
make
payments
on
an
ongoing
basis
to
student
borrowers
and
the
last
are
kind
of
a
dual
purpose
program.
When
it
comes
to
this
long-term
wealth
building
for
students,
can
you
there's
one
or
two
programs
that
allow
borrowers
to
pay
down
debt
while
building
up
assets
to
buy
a
home
and
trying
to
really
jumpstart
that
process
in
that?
That
is
that
connection
between
student
loans
and
home
ownership
next
slide.
Please.
D
D
This
is
one
where
it's
a
a
little
bit
less
of
a
lift
because
you're
not
providing
as
wide
benefit
so
next
slide.
Please,
I
think,
that's
that's
it
for
me,
so
that
was
kind
of
the
broad
overview
overview.
Obviously,
the
report
has
a
lot
more
detail
and
a
lot
more
options
there
to
get
into
details
and
want
to
move
to
questions.
So
you
can
ask
anyone
you
want
about
any
particular
issues.
You're
looking
at
right
now,.
A
Thank
you,
tim
and,
and
this
has
been
so
much
information
and
we
do
have
legislators
and
legislative
staff
on
the
line,
and
in
my
experience
this
is
a
topic
that
brings
a
lot
of
passion,
whether
you're
hearing
it
from
your
constituents
or
you're
feeling
it
yourself,
you're
feeling
feeling
that
pain.
Still,
you
know
we'd
really
love
to
hear
from
you.
What
did
you
hear
today
that
surprised
you?
D
We
haven't
yet,
I
think
it
was.
I
believe
it
was
fairly
new
when
we
looked
at
it,
but
we
weren't
able
to
do
kind
of
a
deep
look
at
each
of
the
options,
studies
on
on
take-up
or
effectiveness
yet,
but
a
lot
of
these
things
are
fairly
new.
The
cares
act
also
had
a
tax
incentive
for
employers
to
to
offer
these
sorts
of
programs.
So
we
don't
know,
I
think,
how
effective
those
have
been
in
terms
of
take-up.
D
We
haven't
done
that
yet,
no,
so
we
had
to
do.
We
were
looking
at
a
broad
set
and
we're
able
to
go
deep
into
the
research
on
that.
But
we
tried
to
again
from
our
perspective
on
on
household
budgets,
emphasize
the
solutions
that
would
most
directly
help
help
borrowers
and
so
you'll
see
a
lot
more
things
like
targeted
repayment,
individual
tax
expenditures-
and
you
will
things
like
the
employer
benefit.
A
Well
I'll
read
this
chat,
because
it's
it's
something
that
I
think
I
keep
hearing
emphasized
over
and
over
again
too.
So.
Thank
you.
I
think
it's
very
interesting
about
how
many
of
the
default
issues
involve
small
to
medium
loan
balances
and
would
be
interested
to
know
how
that
could
help
expedite
solutions.
C
C
D
C
Have
any
like
specific
bill
ideas
at
the
moment
that
have
to
do
with
those
very
low
balances
other
than
you
know
that
cancellation
for
twenty
thousand
dollars
across
the
board?
But
I
think
that
really
changing
the
narrative
is
something
that
is
happening.
That
needs
to
continue
to
happen
in
order
to
make
real
progress
on
this.
A
C
From
idaho,
I
was
just
wondering
if
there's
been
any
studies
or
publications
regarding
the
correlation
between
dual
credit
for
high
school
students
and
early
graduation
and
like
or
on
time,
graduation
from
college.
We
have
a
pretty
robust
dual
credit
program
in
idaho,
but
one
of
the
outcomes
that
we
haven't
seen
yet
is
those
students
getting
either
through
a
four-year
degree,
any
quicker
or
necessarily
any
differently
than
those
people
who
didn't
take
dual
credit.
So
I
was
wondering
if
there's
any
other
publications
or
studies
that
have
been
done
on
that
front.
D
A
A
Well,
let
me
wrap
up
with
some
information.
We
have
from
ncsl
I'll
keep
my
eye
on
on
you
all
in
case.
Anybody
else
wants
to
speak
up
again,
but
I
you
know,
I
really
do
want
to
thank
our
speakers
because
there's
a
lot
of
experiences
and
ideas
here.
I
think
that
were
really
helpful
for
us
all
going
forward.
A
You
know
something
I
guess
that
just
occurred
to
me
is
is
just
as
you
were
all
talking,
just
just
the
impact
of
covet
19
on
this
on
this
trajectory
on
this
story
and
that's
the
big
unknown.
I
guess,
but
I
wonder
even
how
it's
changing
people's
opinions
about
debt
and
what
don
mentioned
about
consumer
debt
being
so
much
higher
than
it
was
even
15
years
ago.
A
C
But
I
will
just
say:
I
think
we
have
some
early
data
that
is
coming
out
on
what
enrollment
is
looking
like
right
now
in
higher
education
and
unfortunately
it's
pretty
much.
What
we
were
afraid
of.
We
are
seeing
a
real
loss
of
enrollment
in
two-year
pro
two-year
public
programs.
So
those
you
know
borrowers
who
really
just
need
that
associate's
degree
or
certificate
program
in
order
to
to
move
on.
C
We
are
seeing
falling
enrollment
at
public
four
years
as
well,
and
the
only
people
benefiting
from
a
higher
education
standpoint
right
now
are
for-profits,
who
are
posting
for
the
first
time
in
years.
Increased
enrollment
and
that's
something
we
didn't
get
into
is
the
problem
of
for-profit
colleges
and
how
they're
going
to
behave
in
this
crisis.
B
I
mean
yeah,
I
was
going
to
piggyback
a
little
bit
on
what
whitney
was
saying.
Definitely,
we've
seen
both
some
anecdotal
as
well
as
some
real
data
about
you
know
just
lack
of
return
students
from
the
previous
year
as
we've
gone
into
the
fall,
and
I
think
what
you
were
saying
in
terms
of
debt
weariness.
B
D
I
can,
I
think
that
the
thing
that,
to
the
extent
I
have
hope,
is
that
there
are
a
lot
of
people
on
this
call
right
now
who
understand
that
this
is
a
big
issue
and
that
we're
seeing
a
lot
more
interest
in
debt
as
an
issue
as
a
whole.
I
think-
and
I
think,
if
we
focus
on
that
more
in
this,
this
recovery
than
we
did
the
last
one,
my
hope
is
that
we
can
do
a
better
job
of
making
sure
that
we
have
an
equitable
recovery.
D
I
think
the
the
story
has
yet
to
be
told
about
what
these
lower
enrollment
numbers
mean.
Do
they
mean
hopefully
like
don
and
whitney
have
suggested
that
we're
rethinking
this
system,
or
is
it
real,
really
a
pandemic
effect
right
and
that
people
just
are
delaying
some
of
these
decisions
because
they
don't
want
to
be
in
school
right
now
and
frankly,
I
don't
know
that
I
would
want
to
go
to
school
right
now
either.
I
think
what
what
that
also
might
mean
and
I'd.
D
And
so
I
think
it
is
really
important
to
get
get
out
ahead
of
that
and
start
thinking
about
those
systems
now,
and
I'm
glad
that
you
all
are
on
the
call
are
thinking
about
that
actively
and
just
like
whitney
said,
if
you
all
have
any
questions
for
us,
you
can
get
my
contact
information
from
sunny
and
ncsl
we're
happy
to
do
a
deeper
dive
on
any
of
the
solutions
that
we
had
in
our
report
or
other
questions
you
have
generally
about
these
issues.
Just
just
give
us
a
ring.
C
And
I
can,
I
just
say
really
quickly.
I
thought
of
a
silver
lining,
as
tim
was
talking,
because
it
made
me
think
about
the
work
that
hbcus
are
doing
in
this
space
and
even
in
those
numbers
that
we're
seeing
that
there's
falling
enrollment.
The
falling
enrollment
at
hbcus
is
not
as
bad
as
at
other
traditional,
four-year
schools
and
we're
also
seeing
that
they
have
super
low
transmission
numbers
for
covid
they're,
not
having
to
have
the
type
of
shutdowns
that
other
schools
are
and
their
students
seem
to
be
taking
it
really
seriously.
C
So
if
you
want
some
hope,
look
at
what
hbcus
are
doing
and
how
they're
surviving
this
crisis,
despite
the
fact
that
they
are
tremendously
underfunded
and
have
a
long
historical
have
had
to
deal
with
historical
inequities
when
it
comes
to
their
funding
structures.
So
that
is
my
that's
my
hope
and
and
definitely
my
model
to
look
to
as
we're
talking
about
this,
because
they
seem
to
be
doing
this
well.
A
Before
I
let
you
all
go,
I
want
to
again
thank
our
wonderful
speakers.
Thanks
to
the
legislators
and
staff
who
joined
us
today,
as
everyone
here
has
mentioned,
we're
all
resources
to
you,
so
don't
hesitate
to
reach
out
to
me
and
we'll
get
we'll
get
those
connections,
I'm
happy
to
help
in
your
state
with
your
work.
I
also
want
to
share
a
couple
of
things
that
were
mentioned
andrew.
If
you
want
to
go
to
the
next
slide,
we
have
at
ncsl
a
series
of
legis
briefs.
A
That's
our
just
short
two
page
policy
briefs
that
speak
to
each
of
the
major
policy
solutions
we
identified
today
around
debt,
specifically
that
legislators
have
taken
on.
So
while
these
briefs
are
written
for
the
legislative
audience,
they
are
available
online
to
all
and
you're
gonna
go
to
the
next
slide.
This
is
a
cool
shot
of
our
the
ncsl
student
loan
bill
tracking
database
that
tim
mentioned
earlier.
So
it's
a
tremendous
resource.
A
I
also
want
to
remind
you
that
this
is
the
third
in
a
series
of
higher
education,
virtual
meetings
and
we
hope
you'll
join
us
for
the
others,
I'm
just
really
thrilled
with
the
participation
of
all
of
you.
I
know
it's
a
tumultuous
time
and
we
really
want
to
maintain
that
connection
and
help
you
move
forward.
Connect
you
to
the
experts,
connect
you,
the
latest
information,
so
we
hope
that
that
we're
serving
you
well
and
we
look
forward
to
keeping
in
touch
over
the
next
few
months
through
these
meetings.