Listen Money Matters - Free Your Inner Financial Badass. All The Stuff You Should Know About Personal Finance.

On this episode, we talk to Adam Carroll who created the documentary about the current student loan debt crisis called Broke, Busted and Disgusted.   We get a lot of questions about student loan debt but we didn’t understand just how dire the state of things was until we spoke to Adam.  It’s so much worse than you can imagine.  When BB&D is released it will be a wake-up call for a lot of people.   For many people starting college, they have no idea what it means to take out massive amounts of student loans.  This is especially true for first-generation college kids.  Some of them are leaving school with $70, $80, $120,000 of debt. So, why is college so expensive now?  Federal funding for education has been cut. Bankruptcy laws were changed in the early 2000s to exclude student loans from being discharged in nearly all circumstances.   That was carte blanche for the lenders.  There was nearly no way they would lose money and they opened their coffers accordingly.  There is now $1.2 trillion in outstanding stud