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Escape Student Loan Debt Podcast
Escape Student Loan Debt Podcast
The History of Student Loans, Pt. 1 [REPLAY]
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EPISODE RESOURCES
The History of Student Loans, Pt. 2
How Student Loans Started: From GI Bill Direct Loans to Federally Backed Bank Loans (1944–1965)
During a light week for federal student loans, we replay our very first Escape Student Loan Debt episode on how the student loan system began. Join us as Brenton covers key student debt milestones: the 1944 GI Bill’s uneven access for Black, brown, and some female veterans; the 1958 National Defense Student Loan Program that produced Perkins Loans; the 1960 creation of the United Student Aid Fund to guarantee bank loans; and the 1965 Higher Education Act creating the Guaranteed Student Loan Program (later Stafford/FFEL), a public-private model that obscured federal costs until defaults.
00:00 Weekly Update And Replay
01:19 Podcast Intro And Host
02:07 Why History Matters
02:53 Two Minute Crisis Summary
04:28 GI Bill Origins 1944
05:31 Perkins Loans 1958
06:06 Budget Reporting Problem
07:44 USA Fund And Bank Guarantees
09:07 Midroll And Assessment
09:44 Higher Education Act 1965
10:47 FFEL Model Explained
11:55 Wrap Up And Next Episode