have some skip to stick some the loan program. since launch as of september we have almost 400 outstanding loans. 10 million and outstanding balances. we are continuing to monitor it. just as fyi most of the assets are coming out of stable value because stable value is our largest holding in our portfolio. we are continuing to monitor loans and the assets. >> do you make the decision on where the bones are drawn down on the joint imagine stable bug. is that a decision you and your staff make? >> no. we don't get the weights designed when you take an outstanding loan it's liquidated whole rather plus all your investments. so that is in effect to not impact any changes in the portfolio. >> any other questions for diane? yes, please do is regarding the loan program the members paying interest to themselves, right? >> that is correct >> so there's really no impact regarding that because the lending money to themselves >> that's right. there's a long-term impact of taking money away from the retirement. there's also some market risk ass

have some skip to stick some the loan program. nce launch as of september we have almost 400 outstanding loans. 10 million and outstanding balances. we are continuing to monitor it. just as fyi most of the assets are coming out of stable value because stable value is our largest holding in our portfolio. we are continuing to monitor loans and the assets. >> do you make the decision on where the bones are drawn down on the joint imagine stable bug. is that a decision you and your staff make? >> no. we don't get the weights designed when you take an outstanding loan it's liquidated whole rather plus all your investments. so that is in effect to not impact any changes in the portfolio. >> any other questions for diane? yes, please do is regarding the loan program the members paying interest to themselves, right? >> that is correct >> so there's really no impact regarding that because the lending money to themselves >> that's right. there's a long-term impact of taking money away from the retirement. there's also some market risk assoc

sharyl: too many people in the mortgage industry were getting rich off the questionable loans. the women say the more they resisted what they saw as fraud, the more insistent their superiors became. so you guys were made into the bad guy when you were actually trying to help the company and the people and flag the fraud. coleen: yes. linda: but we thought we were protectin' our company by soundin' the alarms. we really thought that they would embrace us and be happy and, like, "oh, thank you!" no. sharyl: with matters coming to a head, the women allege in their complaint, bnc brought in a mysterious account manager named daniel, who began stealing their files at night, they say, and harassing them mercilessly by day. linda: he walked past my office regularly with his hands in his pocket, simulating masturbation. i thought it was all in my mind. cheryl: we didn't know what daniel's role was in the office. he just walked around simulating masturbation. so one day, i remember, he just came over to my desk and he just scooted up against me, he started breathin' down my neck and made

the records. by 2006, it was in foreclosure. bnc had made so many bad loans, lehman brothers shut it down in 2007 and then filed for bankruptcy protection itself in 2008. just like the women had feared and warned about, the chickens had come home to roost. coleen: and it was happening. and now look what it's done. it was almost surreal. it was, like, this is -- this is really happening. sharyl: they sued lehman brothers claiming wrongful termination, but the bankruptcy stalled their day in court. and so the very women who worked so hard to make sure people could keep their homes lost coleen: you become labeled as a whistle blower. and mortgage companies don't wanna hire you because you're a risk. i wasn't able to find work. and that affected my whole life. i lost everything. cheryl: i lost my apartment, i lost my car. i was unable to, you know, send my son off to college. sharyl: gary gwilliam is the attorney representing the women in their law it sounds like these women were unknown players in "the big short"? mr. gwilliam: well, they were. but nobody paid a

reviewers of the loan applications to sound the alarm. and they did so over and over again, they allege in a lawsuit, to their bosses and to bnc's parent company, wall street giant lehman brothers. coleen: we would bring it to corporate office attention. and they started pushing us away, telling us to quit calling them and bothering them. sharyl: cheryl mcneil claims in the lawsuit higher-ups retaliated by steering work to other employees. cheryl mcneil: i was closing, and that's really good. when i started finding the fraud in the file and questioning it, the branch manager started retaliating against me. and because i was finding the fraud, then he started taking the files back slowly and giving it to another account manager. sharyl: does that affect your income? are you -- cheryl: it affects my income. 'cause my numbers are going down. each time i complained, nothing happened. then you just get this feeling, like, it's -- it's not right. coleen: i remember, at one point, just actually thinking, "why on earth? i -- i just cannot believe

receive attention,oc easter pool police put photos on facebook to show how bad the heroin epidemic is, the loan is the voice grandmother, letter since two 180 days in jail while her

but then we do all of the loan servicing for the life of the loan. that's something that's also unique. like i said, we're totally vertically integrated. we have a mobile app. we have a web dashboard, and we've innovated a lot of features. one of the features on the servicing side is a skip a pay feature. if you're in good standing and you'd like to take a month off, you can just skip a pay. what's really interesting, goldman sachs just launched the new marcus, and that's one of the features of ours that they've emulated. >> excellent. anyway, i think it's very creative and a great solution for a lot of people. thank you so much for coming on. that's lieu as byrl co-founder and ceo of earnest. thank you. >> thank you. what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley >>> doing the work on amazon, yes, they did not give you what you wanted but th

we started to see where our people are getting problems to get the loans done. the impediments. a customer loan agency say she is supposed to be closing on a house in two weeks. if we don't get this done, she will not get her house. the whole sense about what people were doing, their ability to serve people in need, was completely transformed. customer wase the no longer theoretical. it was a tremendous amount of chatter across the agency. i was able to use those customer service representatives to send daily information on what we were hearing. the client is very important. .specially in government so often, you are dealing with people in need. they have no other place to go. by making that connection, it is a powerful thing. secretaries,inet what is the most overrated and underrated criteria that presidents tend to have? sec. pritzker: i have no idea. [laughter] think in taking cabinet secretaries my advice to a --sident would the would be, you need balance between someone that can be a job.nger, as part of your be a negotiator, as part of your job. the manager as part of your

acs is the loan servicing provider. we work to hold our vendors to the highest level of accountability. >> if she had it to do over again, she'd work while going correct makes for affected borrowers. >>> if you're looking to save money, how about sharing your space. >>> check in for tonight. and breezy out there and a pretty nice day. and we'll take a look at improving the forecast for the rest of the week coming up. special interests that oppose question 2 claim district schools lose money to charter schools. that's "absurd," says the boston herald. "outright lies," reports the lowell sun. charter schools "don't siphon off state dollars" from traditional schools, says the boston globe. in fact, public schools get more money. and result in more funding for public education. please vote yes on question 2. for stronger public schools. our eyes they have a 200-degree range of sight which is good for me hey! and bad for the barkley twins. take care of all your most important parts with centrum. upgraded to our most d3 ever.

encouragedizations everybody, make the loan regardless.ark that was if you did not make the loan, you were distributing a -- discriminate against people who could not afford it. the trouble is there are no quick answers and we tried to create one. you create the bubble and then the bubble collapses. throughoutad bubbles history. they manifest themselves differently. we will have them in the future. >> human beings, we get smarter about a lot of things, in terms of how to produce things. we do not get rid of basic human emotions. greed and fear will always operate the same way. greedry decade or so, gets out of context. how could we have been so stupid. and revise history not havewe should known. back,k, if you look people who want to treasury thed this country because rewriting of history says you should not have bailed out the companies. ridiculous. you had no choice but to do that. everyone wanted them to be overleveraged. we live in a world where somebody else has to be guilty. we go after the bankers, which we have always done. we are

but then we do all of the loan servicing for the life of the loan. so that's something that's also unique. like i said, we're totally vertically integrated. we have a mobile app. we have a web dashboard, and we've innovated a lot of features. one of the features on the servicing side is a skip a pay feature. if you're in good standing and you'd like to take a month off, new marcus, and that's one of the features of ours that they've emulated. >> excellent. anyway, i think it's very creative and a great solution for a lot of people. thank you so much for coming on. that's louis beryl, co-founder and ceo of earnest, and it's spelled e-a-r-n-e-s-t. thank you. >> thank you. i stole the other team's mascot for good luck. wash it? yeah, wash it with febreze. for all the things you can't wash, use febreze fabric refresher wow [inhales] it really smells great in here. dog barks and try pluggable febreze, with up to 4 times the freshness in one refill. pluggable febreze and fabric refresher "whatcha doin?" "just checking my free credit score at credit karma. "

loan servicer. >> are you aware? i can't speak to anything other than the relationship between mefa and acs loan servicing. >> reporter: director of public affairs told the i-team mefa is available to help advocate for families having issues. but, she refused to discuss the she also would not address the fact that acs was named in a class-action lawsuit, alleging its scheme to keep borrowers in debt, a case settled out of court. the i-team also learned acs is under scrutiny by the massachusetts attorney general's office. >> i can't comment on that. >> how concerned does that make you? >> acs is mefa's loan servicing provider. we work to hold our vendors to the highest level of accountability. >> reporter: tanya is not it over again, she says she would have postponed college and worked to save. late today, this acs spokesperson acknowledged they have identified issues with the way some consumers have been billed. the company is working to correct those mistakes for effective borrowers. for the i-team, ryan kath, wbz news. >>> this just came in before 11:00, matthew intensifying in strength. this is a nasty storm. >> in

afterwards, the kittens will be misconduct -- your loans could be forgiven. the education department drew up new rules - after the corinthian college chain closed or sold all its campuses last year - when they were accused of fraud. under the new rules - students at schools like that - can have their student debt erased - and the college would be on the hook to repay the loans. so far - the government has forgiven almost 250-million dollars in loans from former corinthian students. black friday...apparently isn't the coolhi to do anymore. surveys show - the annual tradition of stuffing yourself with turkey and rushing out to buy a new t-v -- is losing its appeal. online shopping - and in-store deals ahead of time - are ruining the black friday magic. and this year - the national retail federation says - the friday right before christmas - could be the anderson...could be sidelined for the rest of the season. but he says - don't count him out just yet. he is out for this sunday's game against the . anderson just had surgery to repair a torn meniscus in his righ

so instead of keeping the banks from being able to make money and with that money make loans and takeat you have to do is find ways to protect the banks from going under. have an insurance policy in case they do. but not keep them, not try to change them so that they can't possibly go under, because then they can't do their function. terre: right. michael: they are a very important part of the function, and unless somebody finances development, there is no development. if there is no development, there is no way to create jobs and wealth and good lives and good education systems and good governments that depend on tax revenue in the future. >> one thing we know about growth is it is not everything, but it is the source of all good things. in the sense that you have a growing economy, people are more relaxed and open to new ideas and open to cooperation. they are dividing a growing pie. when you do not have growth, people are competing over a shrinking pie. you will get a more snarly, angry and probably racist, more homophobic -- people will use whatever emotional hooks they can to get

and when we came into the sba one year after katrina the direct loan process had shutdown the sba also makes almost to those who have had a disaster. very few people had gotten loans in the whole system had collapsed. they thought we were magic we didn't do anything they would not have done any business. but what i found on the business side is a lot of the of leadership in what didn't have the tools to think that way were terrific leaders but didn't have the tools to say get the loans out the door behalf to be accurate, etc., etc.. then people in the agency didn't have the skills to work physicians to look at the effectiveness sorry efficiency. >> >> could you do that quickly >> the sba oversees the contracting programs. with the terrific expertise. >> i think one is in the audience. we were able to bring small teams but what we were able to do is take the carrier one workforce that saudi issues on the "frontline" to understand and pair them with people who have skills to redesign the process to help them be more effective with that organizational construction and they get a lot of ba

loan. >> people often wonder when is the right time to take out a home equity loan or line of credit. many people, especially military families, of the ways these loans can improve your financial situation. because those who are serving are often on the go and sometimes require selling homes on short notice, taking out a home equity loan could be key to helping you sell faster. renovations may increase the value of your home and can increase your equity further once the loan is repaid. do your research and talk to her realtor to find out the best ways to boost your home value. home equity may be a way to borrow for college as the interest rate may be lower than particularly useful for assurance whose children are a few years apart. use the money for tuition and pay down the balance in time for the next child to enter college. consolidating high interest debt from credit cards and car loans and personal loans is an abuse of home-equity. -- another use of home-equity. your home is on the line so make a point to maintain your newly improved budget could whether it is home-improvement, bor

-- if a bank loans you $1 million or gives you a mortgage to buy a house. you don't oh taxes on theeipt of that money. it is a loan you are repaying. if something happens and they forgive the loan, normally you oh taxes on what they have given you up to that point. because it is income. it is no different than your employer giving you money. normally that gives rise to what is called cancellation of debt income. there are some exceptions to that. areexception is if you insolvent and another example is in 1993, congress gave a benefit to the struggling commercial real estate industry, which is to say if the loan that went bad was a real estate loan, many you would not have to count that as income. in all likelihood, donald trump was taking advantage of this. carol: what i love about your story is that you realize whether it is donald trump or mitt romney, there are loopholes or tax strategies that a small can of our income strata take advantage of, most americans cannot. >> that is the most interesting thing we saw, both in 2012 and 's partiald trump return here, which both shows exa

there are many concerns about banks, the increasing number of loans. all across the region, and mostly in saudi. everything that comes from saudi affects the region as a whole. it seems like people were waiting to see the numbers to see how much worse the results can become by the end of the year. they are just not making decisions. we don't see people positioning. that is literally reflected in the volume of trade we see on a daily basis. when we talk with analysts and investors, they are just li ke, why would i make a decision now when i don't see a clear signal that things will improve? i might as well stop everything i am doing and watch things happen before i start a new strategy. indexes are all declining and we saw sharp declines yesterday. sge lost almost 5%. they did not even present their earnings yet. we just know this is taking a toll as a whole. tracy: to your point, the banking results we have seen so far have been disappointing. the union national bank's inet income fell 15%. are we expecting more of the same from other banks? angie: yes,

the money was not coming in to serve as the payments on those loans, and he defaulted on the loans orrked out something with the lenders so he would not repay the $900 million. carol: so are these personal taxes, corporate taxes? >> it is a little complicated. donald trump and the corporate entities donald trump runs were in some ways synonymous because they were largely structured as partnerships that were entirely or nearly entirely owned by donald trump. so the way to think of it it is that the trump corporate entity part results for the most flow onto donald trump's personal tax returns. carol: interesting. what he did, this is what we are trying to understand is not , illegal. >> right. here is the punchline or the most interesting thing about this. so let's take with the new york times reported and kind of unpack a little bit. basically they said he reported a loss of a little over $900 million in theory because of the way the tax rules work, he is able to take deductions equal to $900 million. he is able to take that and $900 million deduct it over 18 years or up to 18 years. e

how is loan growth continuing if the economy is not really operating -- >> large company loan growth he way. small business but no loan growth. >> is it only happening at the super high end or is it that they are deciding where they want to lend the money but they're showing loan growth? >> let's look at the small banks for a second. a lot of merger activity over the last three years. it was running 300 banks a year. this year it's 180 banks and the multiples have gone from 25, 26 times to 22 times. the other thing that's starting to happen is if you are a community bank you don't have the same loan demand that you're seeing at some of the big banks and net interest margins become really, really important. trying to play the float as narrow as they are they don't have -- if you hit them with compliance at the same time as loan net interest margin they're really struggling, it's driving a lot of the consolidation and there's some banks that are sharing compliance teams because they can't afford a full time compliance in their own shop. i think the small banks are really looking for tha

oversight over student loan servicer. >> reporter: the borrowers most likely to default? th $10,000 or less in student loans. they have lower debt, but are less likely to have completed their degrees and may have lower earnings. chris savelle's debt has affected his little sister's future as well. if it weren't for chris's debt, do you think katie would be in a four-year school now? >> i think if she could see that she could get an education without having a lifetime of crushing debt, i think she would. >> reporter: the legacy of chris's debt will be with him, his sister and his whole generation, long after it's paid. for the pbs newshour, this is lizzie o'leary in detroit, michigan >> woodruff: in our next piece, we'll look at what happens to some students at for-profit schools. online, our coverage continues with a look at which student loan companies accrue the most complaints by borrowers. >> woodruff: it's never easy to step in and take over a popular show, especially one that was hosted for more than 40 years by its creator and stamped with his personality. but as th

the state. a state official tells us that atlantic city violated terms of a $17 million loan earlier this week. the state says it is not demanding atlantic city immediately repay the money but received the loan. insteads it will not provide additional loan advances or state aid, considering that collateral for the loan. >>> and turning to decision 2016, both vice presidential candidates will continue their tours of pennsylvania today. republican candidate mike pence held a rally in grantville last night just east of harrisburg. and today he'll in in gettysburg. and tim kaine is holding an event at carnegie mellon university in pittsburgh where he'll be talking about the economy. to the rally in philly, nbc10's lauren mayk was able to talk to kaine one-on-one. she asked him about the debate tuesday night. >> you know, i went in to do some things and i did that. we were seated around a table and there was discussion. >> pretty heated at times. >> watch for more with lauren on the nbc10 app. >>> and we'll track hurricane matthew that barrels towards florida. >> forecasters say it could strengthen f

there could be a profit off the student loans. ey could use the money for something else such as the tax loopholes that senator johnson likes to vote for. they can use it for that, and i think it should be prohibited. if the federal government is going to have that program, the money should be poured back into making the student loans more affordable. these are specific things we can do. senator johnson has said that young people and it is free money, and that is not true. they know what interest is and they are very worried. senator johnson: the cost of college has increased tremendously. that hasso different caused the cost of increased by that level? senator feingold is exhibit a of how that happens we charged $8,000 per lecture at elect -- as a lecturer at stanford university. that is what causes the on affordability of college. we have to address the affordability issue. the fact of the matter is that we already have 38 different tograms that lower payments 10% or 20% of discretionary income. it pays off the debt in 10 or 20 y

the loan choose a brutal attacks continue. japan to empire. you need to more aggressive if she fed him others. italyt is imperialism invaded ethiopia. later jiminy in italy by intervention helped over the public government in spain. three nations posted alliance. 1940, germanyof and italy would plunger into war and become united in japan. that's united with japan. it would all. china continued as the scene of misery and death. people made homeless with indomitable courage but inadequate weapons the chinese thought back. alone the get of resistance to japanese imperialism alive. japanese envoys to the united states described themselves as missionaries of friendship and peace while they were still negotiating their countrymen struck a savage blow unparalleled in intimate. 7 1941.rbor december in spite of crippling damage, the united states fleet augmented by british australian and that unit set out to find the enemy. the japanese advancement was halted. even if the enemy made passes towards hong kong and singapore, they begin the long journey ba

>> when i was at u.b.s., we got involved with the student loan situation. i feel for what the consumers go through. at the end of the day you have to figure out how to rapidly come to a decision and make people feel like the bang is thinking for their clients, not thinking for themselves. it's tough to square that circle. anthony: you have got a fabulous new company you started a few years ago. 32 advisors. tell us about the firm and the strategic push you have on with relation to drones and your interest in america's infrastructure. >> thank you for asking. i'll go quick. 32 advisers is a small little boutique and i appreciate you talking about it. it's run by austin golds bi. he's been spot on on the oil markets, china and the fed. i wrote a piece for fox news and fox business and infrastructure it, the fastest multiplier of gdp growth. the track is is to try to get money off the sidelines and get public-private partnerships going. the second business line we created, this is something i'm excited about is our company measure, a separate business line. we

even when he had his success, it was only because his father cosigned the loan or his father arrangedor some other financial input. and, you know, one of the things i heard earlier that you were playing what hillary clinton said at the debate. and she was talking about two tax years. well, those two tax years now are in my report today. and when donald trump says i avoided taxes because i was smart, those were the years where he lost $400,000 and $1.3 million. it wasn't because he was smart. it's because he mismanaged his rental properties in manhattan. he mismanaged three other partnerships. he failed to -- he borrowed $38 million that he couldn't pay the interest on. that's not smart. that's ignorant. >> and kurt, you report that when he went into the manhattan a real estate business, he actually had trouble renting the units. and this was something that his father had always feared. it's why his father never wanted to go into the manhattan real estate business. >> right. he had to actually pay out of pocket his own cash to keep the buildings operating. because he wasn't able to get

the specter of nonperforming loans is still out there. ngin the chinese system at a decade high, and keeps on rising, howbeit incrementally. bank of china third-quarter net income of two .5%, so a profit gain year-over-year in the quarter to 41.8 billion yuan. also through the nine months this year, net interest margins to narrow to 1.85%. in those nine months, up 13.4%. the only silver lining was that in the third-quarter the increase was narrower than the previous three months, so they seem to be trying to get a grip on this, but the big banks and government are trying to rid the system of bad credit. thanks for writing office bad loans. they are also selling that bad credit to asset management companies. managers also packaging it up insecurities. the cabinet earlier this month approved the debt for equity swap getng people to buy that equity. down through bank of china, inmate, they sold securities backed by 1.2 billion yuan of nonperforming corporate loans. also in the backdrop is that in china, some of the least risky loans or mortga

the bank loans, was at a regional bank that led to the $5.5 million or was that a small bank? >> no, it's a security specific bank in los angeles. he could never happened. first of all the rules would not let them go across state lines. if you look at the balance sheet, we didn't have a balance sheet. we had was a couple of docs and a lot of courage and willing to make -- break their backs to make something happen and a great idea. most industries have started that way. in the carpet carpet business there was that banker in dalton georgia that basically started the carpet business. he loaned money to people that had no balance sheet and they turned out to be the biggest companies in america today and carpeting. the banker who trusted people who did it based on what he saw. anthony: what would you say to elizabeth warren and she was was asking a question she would say to you but this does take advantage of a lot of things and today you have low interest rates and today if you try to start a home depot you can go to private equity firm. you didn't build it yourself. what would y

the drywall has been repaired and there's new glass on the front door at caliber home loans. even the spray paint has been scrubbed off community west bank's atm next door. (nats of scrubbing) but the people at caliber home loans are still a little shaken up after a burglar cut through one of their walls to get inside the bank next door. san jose says: "we've been here almost five years now and community west bank has been here even longer and so we've always known each other and been good neighbors to each other but never would have suspected this to happen." while there was significant damage to the wall...almost everything else inside the office was left untouched.. leading those who work here to believe the burglar had a well thought out plan. who saw the glass, they came through the glass, broke the glass window - they knew exactly where they were going so they didn't go through our office at all." the suspect seen in these photos taken by a bank camera shows what police say is a white man between 5'8 and 6 feet in height. the loan officers are ready for everything to be

the bank loans, was at a regional bank that led to the $5.5 million or was that a small bank? >> no, it's a security specific bank in los angeles. he could never happened. first of all the rules would not let them go across state lines. if you look at the balance sheet, we didn't have a balance sheet. we had was a couple of docs and a lot of courage and willing to make -- break their backs to make something happen and a great idea. most industries have started that way. in the carpet carpet business there was that banker in dalton georgia that basically started the carpet business. he loaned money to people that had no balance sheet and they turned out to be the biggest companies in america today and carpeting. the banker who trusted people who did it based on what he saw. anthony: what would you say to elizabeth warren and she was was asking a question she would say to you but this does take advantage of a lot of things and today you have low interest rates and today if you try to start a home depot you can go to private equity firm. you didn't build it yourself. what would y

i extended the student loan certainly act that lowered interest rates. i don't have enough minutes in this debate to really refute all the false charges senator feingold has hermitaged at mer -- hurled at me her. the fact of the matter is i support whoever wants to have a college education. build a good life for themselves or family. it's all a matter of how do you make college more affordable, and we have to really address that issue honestly. >> thank you. and this time has gone far too quickly. it is time now for your closing statements, and by the coin flip, russ feingold, you are first. >> well, first, thanks to with wisconsin broadcasters for doing this. you know, it's been a tremendous privilege to have a chance to go around the state the last two careers and her people's concerns best of your recollection also see the amazing innovation, things like the this thing is really doing innovative things with freshwater. then you come up here to green bay. i can't stop eating the mozzarella that you get at the quik trip. this is a wonderful company. you

the loans will also get dropped -- if a college breaks any kind -- of contractual promise -- with its students. colleges -- will be responsible -- for re-paying those loans -- instead of taxpayers. you have to hear this next story -- to believe it. a north carolina woman -- was trying to teach her husband a lesson -- about playing lottery.. instead -- the couple -- wins a million dollars! glenda blackwell says -- her husband asked her -- to pick up some powerball tickets. but -- she got a scratch-off instead. "i had to eat my words but they were worth eating. so, i was very happy." the couple chose the lump sum -- about half a million. they'll use the money -- to buy a new home -- and help their grandkids with college. there's sad news -- coming from the world-wildlife fund. more than a half -- of the world's wild animals-- could be gone -- decade -- if we don't take action. the work being done -- right i'm catherine cortez masto and i approve this message. as a doctor, i see how decisions in washington impact my patients here in nevada. so even though i'm a republican, i won't be vot

the most commonly mentioned thing is the cost of student loans. the problem it creates for the family and also for the community. so we do need to continue the federal role. we need the student loan program. it is a very simple piece of legislation that would help. you would be able to renegotiate. senator johnson voted against it. concern about the terrible position these and people are being placed in? i think it's a denial of the american dream. they can use the money for whatever else. they can use it for that. i think it should be prohibited. these are specific things we can do. senator johnson says young people think it is free money. they don't. they know what interest is. the cost of college has increased and everybody has to ask themselves, what in the world is a different about what colleges and universities been their money on -- spend their money on? lecture at$8,000 per stanford university. when colleges have that much causes the is what an affordability of college. we've got to address the affordability issue. we already have 38 diffe