OUR CHILDREN, WHICH IS THE FUTURE OF OUR COUNTRY.>>OF COURSE, SECRETARY LET ME ASK YOU ABOUT HIGHER EDUCATION LET’S MOVE OVER THERE, IN U.S. WE HAVE SOME OF THE BEST UNIVERSITIES IN THE WORLD WE KNOW THAT. BUT FINANCING COLLEGE IS VERY TOUGH FOR MILLIONS OF AMERICANS, YOU IS A I THERE IS A CRISIS GOING ON, IN TERMS OF PAYING FOR COLLEGE, TELL US WHAT IS HAPPENING.>>SURE. WELL I AM SHEER AT FEDERAL STUDENT AID CONFERENCE IT IS ABOUT TO BEGIN, AND I AM GOING TO BE TALKING TODAY, ABOUT THE FACT THAT WE HAVE A CRISIS AROUND STUDENT AID, AROUND STUDENT DEBT AND IT REALLY IS IMPACTING NOT ONLY STUDENTS BUT IT IS GOING TO ULTIMATELY IMPACT OUR ECONOMY AND IF WE AREN’T HONEST ABOUT THAT, AND IF THOSE WHO ARE POLICY MAKERS AND THOSE WHO CAN IMPACT FROM STARTING FROM CONGRESS, BUT SCHOOLS AND UNIVERSITIES HAVE TO TAKE A LOOK AT THEIR ROLE AND WHAT NEEDS TO CHANGE TO ALLOW STUDENTS TO PROCURE THEIR FUTURES BUT DOING SO IN A RESPONSIBLE WAY, STUDENTS HAVE TO HAVE MORE INFORMATION, ABOUT THE DEBT THEY ARE ASSUMING UNDERSTAND IMPLICATIONS, 70% GROWTH IN STUDENT ALONE DENT PORTFOLIO HAS BEEN STUDENTS TAKING ON MORE AND MORE DEBT OVER THE LAST EIGHT YEARS IT IS NOT MORES STUDENTS ACCESSING THE SYSTEM IT IS MORE STUDENTS ARE EXISTING STUDENTS TAKING ON A LOT MORE DEBT. IT TOOK 42 YEARS, FOR THE STUDENT ALONE BALANCE TO GROW TO 500 BILLION DOLLARS IT TOOK 11 YEARS FOR IT TO GROW ANOTHER TRILLION I DON’T KNOW THAT THE IMPLICATIONS FOR OUR ECONOMY ARE STAGGERING, MORE THAN 10,000 DOLLARS OF SOMEONELS’S STUDENT DEBT FOR EVERY SINGLE AMERICAN TAXPAYER 145 MILLION OF THEM, WE HAVE TO LOOK CAREFULLY AND HAVE HONEST CONVERSATIONS ABOUT THE POLICIES WE SET, AND HOW WE IMPLEMENT THEM AND THE PROCESSES WE — WE PUT IN PLACE TO HELP STUDENTS PURSUE THEIR FUTURES IN A WAY THAT THEY ARE INFORMED, THAT THEY HAVE CONTROL OF INFORMATION. MARIA: RIGHT.>>AND ONE OF THE THINGS THAT WE ARE DOING AT FEDERAL STUDENT AID IS HELPING TO GIVE STUDENTS MORE INFORMATION WE INTRODUCED THE MY STUDENT AID THE APP, FOR STUDENTS PLAYING FOR NOW THEY CAN GO TO THE APP ON THEIR PHONE AND FILL OUT COMPLETE THE FACT TO FORM STOON WE WILL HAVE INFREQUENTS ADD THERE HAD THEY WILL BE ABLE TO FIND PROGRAM HE WILL HAVE LEVEL DATA FOR EACH OF THE SCHOOLS THEY ARE CONSIDERING ATTENDING SO THEY CAN FIND OUT WHETHER FIVE YEARS AFTER GRADUATION THEY WOULD BE HAVE THE POTENTIAL TO EARN WHAT THEY HOPED TO EARN IN THE PROGRAM AND MAJOR THEY ARE HOPING TO PURSUE HAVING MORE INFORMATION –>>PLEASE FINISH YOUR THOUGHTS.>>NO, STUDENTS HAVING MORE INFORMATION, AT THEIR FINGERTIPS WILL GIVE THEM GREATER CONTROL OVER THEIR FUTURES, WILL MAKE THEM MORE INFORMED ABOUT THE DECISION THAT THEY MAKE IN TAKING ON THE DEBT INITIALLY.>>SECRETARY QUICK WE HAVE BEEN TALKING ABOUT CHINA, HAS THERE BEEN ANY CONVERSATION IN TERMS OF ACADEMIA WHAT ACADEMIA CAN DO IN TERMS OF CHINA, AND CHINESE STUDENTS COMING HERE GOING TO OUR UNIVERSITIES, THEN TAKING THE BEST OF THE BEST BACK TO CHINA?>>WELL, I THINK THAT IS AN ISSUE THAT WE HAVE TO HAVE A LOT FURTHER CONVERSATION ABOUT, IT IS GOOD TO HAVE INTERNATIONAL EXCHANGES I THINK THAT IS IMPORTANT FOR OUR STUDENTS FROM AMERICA, AND FOR STUDENTS FROM AROUND THE WORLD, BUT I THINK WE NEED TO ALSO DO IT WITH OUR EYES WIDE-OPEN ABOUT THE POTENTIAL FOR ABUSES IN THAT REGARD. MARIA: SECRETARY I KNOW A LOT