00:00The federal government will no longer back loans for programs that don't provide a return on
00:04investment for students. The Department of Education is comparing tax returns to the
00:09list of students in various programs at colleges and universities across the country. If the typical
00:14graduate does not make more than the typical high school graduate, then a program will be in jeopardy
00:20if this becomes the case for two out of three years. One analysis found that 804 programs,
00:26which are about two percent of all undergrad programs across the country, are potentially at
00:31risk. These graduate 40,000 students annually. There were some pretty surprising inclusions,
00:37like the University of Southern California, Juilliard, and the New School. Most of the
00:41programs that were impacted were in the arts, like music or studio arts. The outcomes of this policy
00:48change are still not yet determined, but schools could potentially shut down programs or increase
00:53their own financial aid towards students in these programs if they become impacted and can no
00:58longer get loans. My view on it is it seems like a no-brainer, not because I have any specific
01:03hostility towards these schools or these programs, but because schools actually should just have a duty
01:07to provide a service that's quite expensive that actually returns investment in the end,
01:13at the very least to the level of the typical high school grad's employment.
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