School on how to determine tuition increase: count BMWs in parking lots; Silicon Valley Bank

Kennedy questions CFPB Director Chopra in Banking 12 11 24

University President on how to determine tuition increase: count BMWs.

60 cents of every dollar that our kids borrow has been diverted into higher tuition

How many people from Silicon Valley Bank, Signature Bank went to jail?

Universities have gotten more and more and more expensive, so kids borrow more and more and more money so universities can hire more and more people and raise tuition to pay for it and that doesn’t seem fair to me. Why haven’t you asked your people to take a look at?

https://www.facebook.com/HygoNewsUSA/videos/577734734963089

School on how to determine tuition increase: count BMWs in parking lots; Silicon Valley Bank, Signature

Key Points

Kennedy questions CFPB Director Chopra in Banking 12 11 24

University President on how to determine tuition increase: count BMWs

• 60 cents of every dollar that our kids borrow has been diverted into higher tuition

How many people from Silicon Valley Bank, Signature Bank went to jail

• Universities have gotten more and more and more expensive, so kids borrow more and more and more money so universities can hire more and more people and raise tuition to pay for it and that doesn’t seem fair to me
• Why haven’t you asked your people to take a look at

Transcript Highlights

The following is transcribed from the video audio:

• and you and Tillis and I got into a meatloaf lyrics discussion
• Why haven’t you asked your people or maybe you haven’t known about it to take a look at what if any nexus there is between us
• When I was a regulator at the CFPB 10 years ago we actually went after some of these schools what they were doing
• I’m talking about some of our more prominent universities that clearly keep raising their tuition as kids borrow more money
• I’m talking about the not-for-profit university
• I agree that there are serious problems with how some universities can steer people into loans to borrow more and more and more
• I think as we think about fixing our student loan system I don’t know if the existing one is one we want to keep because not only is it burdening a lot of people but it may be creating the incentives for some universities to really be pushing up the costs and that’s actually a bad cycle
• We have seen it a lot with some of the for-profit schools but also some of the non-profit
• We had a former president at LSU who was asking for yet another tuition increase from our legislature
• A legislator asking me how do you determine how much to increase tuition

Full transcript: 637 words transcribed via Whisper AI.