Former FDIC Chair on Student Debt

Is it time for colleges to start sharing some of the risk involved with student loans? Sheila Bair — a former chair of the FDIC who once warned of the looming subprime lending crisis — thinks so. Bair, president of Washington College in Chestertown, Md., supports a concept that calls for colleges and universities to have a financial stake in how well their former students do in paying off their student loans.