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and a basic promise. - a nation that rewards the effort and determination of every single american. - so the least among us shall have an equal chance to achieve the greatest things. - and the doors of higher education will be open to all. - no matter what your circumstances or where you are, you are part of the life of our great nation. - it's one thing all our presidents agree on, each in their own unique way. [patriotic music winds down] - have a good life. we will see you soon. - and to get that good life, all we had to do was follow the instruction manual on how to do the right ...

It's galactically failed by all rational metrics and measures. we now owe close to $2 trillion in federal student loan debt. and you know, it seems like nobody's really even paying any attention to it, so... - whoa. there was definitely a story here. but was alan right about its magnitude and that no one was doing anything about it? - we're just gonna have to clear this whole area out, both tires. - it all seemed so outrageous. - glad you showed up, man. - sure. and honestly, so did alan. meet jerome. he's the chair of the federal reserve, which is a fancy way of saying his job is to make sure...

Stops against our best and brightest for the crime of going to college. this lending system is now catastrophically failing, proactively failed, by all rational metrics and measures. we now owe close to two trillion dollars in federal student loan debt. and, you know, it seems like nobody is really even paying attention to what. so -- >> whoa. there is definitely a story here. but was allan right about its magnitude and that no one was doing anything about it? >> we just have to clear the area of both tires. >> it all seemed so outrageous. >> glad you showed up, man. >> and honestly, so did al...

Meet jerome. he's the chair of the federal reserve, which is a fancy way of saying his job is to make sure the economy doesn't suck. a republican appointee, jerome is not known for his bleeding heart or stirring oratory. - we're not on a sustainable fiscal path. we need to get on one. - but on student debt, jerome has been surprisingly forthcoming. - in your view, does the high level of student debt create a drag on the economy? - as student loan continues to grow and becomes larger and larger, then it absolutely could hold back growth. - that's the key. it's hard to tell from his jerome-like ...

The lenders pull out all the stops against our best and brightest for the crime of going to college. this lending system has now catastrophically failed. it's galactically failed by all rational metrics and measures. we now owe close to $2 trillion in federal student loan debt. and you know, it seems like nobody's really even paying any attention to it, so... - whoa. there was definitely a story here. but was alan right about its magnitude and that no one was doing anything about it? - we're just gonna have to clear this whole area out, both tires. - it all seemed so outrageous. - glad you sho...