Netflix host of "Patriot Act" Hasan Manhaj testified before the House Financial Services Committee on Tuesday, and he brought receipts to the members of the committee.
Receipts for what THEY paid for their college educations. Market Watch:
He also pointed out that the committee had graduated from college about 33 years ago and paid an inflation-adjusted tuition of $11,690 a year on average. Yet currently, tuition at those same schools is almost $25,000 — a 110% increase on today’s students, while wages have only increased 16% during those three decades.
“People aren’t making more money, and college is objectively way more expensive,” said Minhaj. “And yet many borrowers are still treated like deadbeats because the government has put their financial futures in the hands of predatory for-profit loan servicing companies.”
Minhaj closed by asking Congress why it doesn’t treat student borrowers the way it treats U.S. banks. “Because 44 million Americans, that is too big to fail,” he said.