what harvard university did a few years ago. i remember reading it. they don t allow the college cost to be more than 20% of the parents gross income. i may be mñ repay your student debt. i think given that the alternative is that we, the taxpayers, end up paying it right. that s probably appropriate in some form or another. okay. oliver porsche, thank you so much. thank you. leland. all right, julie. as we continue to celebrate
president obama, though, making sweeping changes to the student loan program, potentially helping to make millions of borrowers payments more affordable. but taking on debt often leads to thousands of graduates putting off saving. today the total student loan debt here in the u.s., get this, now exceeds $1 trillion. all of which raises the question, are too many people taking on student loans who can t afford them? joining me is oliver porsche, thank you so much. thank you for having me. we don t want our college students to do what we did in 2008, and that is get a loan too easily. many of us got mortgages too easily and it turned into an economic crisis. unlike mortgages, we re in the work force to get approved. college students don t have jobs to get approved. not yet. and it s a problem. and the whole system is problematic. one of the problems i view, julie, quite frankly, the fact that there is the average endowment, and i just googled while waiting here. the average endo
another. and new information on the irs targeting of conservative groups. the government agency blaming missing evidence on a computer crash. we ll discuss. but first, fox news alert on the growing crisis in iraq. radical muslim insurgents who have already taken over two major iraqi cities are now just miles from reaching the capital of baghdad. this as we learn the obama administration is still weighing its options about how to respond. doug mckelway joins us live in washington. hi, doug. reporter: hi, julie. sunny sunny militants have seized a small town 60 miles north of baghdad after iraqi security forces pulled out. still, in baghdad, young shiite men have been flocking to volunteer centers prompted by the country s top shiite cleric to stop the advance of the isil or the islamic state of iraq. iraq s second largest city, mosul and saddam hussein s hometown fell earlier this week. meanwhile, the pentagon is awaiting the decision from president obama on what militar
the dow jones industrials were down about 21 points will be kicked off this morning. they will let us know what they are thinking and following back, we will have bernanke answering questions. you can see the major averages down slightly to the downside. it used to be if the fed did this, the market would do this. because of the action and volatility that we have seen, the only thing is the market seems to move. every word means something else. if they taper, it means that the economy is getting better. connell: thank you, nicole. all eyes are on german bernanke. dagen: peter barnes is outside of the federal reserve. peter: i am inside. to taper or not to taper. those are the questions. we hope to get some more answers from the fed chairman himself at his press conference at 230. most analysts that i have talked into do not expect any change in policy today. they expect the fed to stay the course. and, to continue the quantitative easing bond buying program at the current pac
well, he when some new and vi dire, i have to tell you, new census figures showed that home ownership over the last decade has seen its biggest drop since the great depression, we ask what does it mean for the american dream? how about owning your own home. how about holding onto the one you have? joining us now, oliver porsche, president of gary goldberg financial services and thanks for being with us. thanks for having he me. is owning your own home no longer the american dream? well, i think the american dream has been redefined over the centuries and over the years, so, absolutely, right now the american dream is not defined as owning a home and i think when you reach the 70% level like we did, you know, halfway through the the past decade, it was done artificially and i m the not