The History of Student Loans, Pt. 1 [REPLAY]

EPISODE RESOURCESThe Debt TrapThe History of Student Loans, Pt. 2How 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 Replay01:19 Podcast Intro And Host02:07 Why History Matters02:53 Two Minute Crisis Summary04:28 GI Bill Origins 194405:31 Perkins Loans 195806:06 Budget Reporting Problem07:44 USA Fund And Bank Guarantees09:07 Midroll And Assessment09:44 Higher Education Act 196510:47 FFEL Model Explained11:55 Wrap Up And Next Episode