WEBVTT - US Education Secretary Linda McMahon Talks University Funding Cuts

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>Education Secretary Linda McMahon.

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<v Speaker 3>She is taking part right now in a Bloomberg Newsmaker event,

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<v Speaker 3>and our White House correspondent A Kayla Gardner is speaking

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<v Speaker 3>to her live already in progress.

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<v Speaker 2>Let's dip into that conversation.

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<v Speaker 4>I don't recall any particular senator or Congressman that congressomen

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<v Speaker 4>that have had that conversation with, but generally speaking, they

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<v Speaker 4>are all four being behind raising test scores, having better

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<v Speaker 4>performance for the students in our country. But I think

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<v Speaker 4>at this point I could probably honestly say that they're

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<v Speaker 4>relatively thelely divided.

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<v Speaker 1>I want to talk about the headlines that we've seen

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<v Speaker 1>from the administration. Obviously, several different agencies have revoked billions

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<v Speaker 1>of dollars in funding to many private universities, including Harvard, Columbia, Cornell,

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<v Speaker 1>Brown Princeton, which, if any, are on track to getting

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<v Speaker 1>their funding back from the government.

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<v Speaker 4>The first university UH that we started this process with

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<v Speaker 4>was Columbia m U. I visited with the then acting president,

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<v Speaker 4>Katrina Armstrong UH on campus at Columbia, and we basically

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<v Speaker 4>were starting our conversation relative to.

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<v Speaker 5>Anti Semitism activities that had.

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<v Speaker 4>Gone on before UH and that we're still continuing in

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<v Speaker 4>in some ways, though some of it worth a little better.

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<v Speaker 4>We that's how we began our conversation, But then we

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<v Speaker 4>wanted to look at other aspects of UH, you know,

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<v Speaker 4>the UH, the programs that they had on campus, how

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<v Speaker 4>they were vetting their students. Did they believe that a

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<v Speaker 4>lot of the uprisings on campus came from outside agitators

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<v Speaker 4>or students that were on campus. What were some of

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<v Speaker 4>the UH ways that they were managing.

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<v Speaker 5>Those activities on campus?

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<v Speaker 4>And UH, I think we have had really good, open,

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<v Speaker 4>honest discussions. I've now met with the current UH UH

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<v Speaker 4>president of Columbia UH twice and had a telephone conversation

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<v Speaker 4>with her. I'm sorry, I've met with her once, had

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<v Speaker 4>you telephone conversations with her, and I think we've made

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<v Speaker 4>great progress.

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<v Speaker 5>Harvard's been a little more UH strident.

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<v Speaker 4>They responded to our negotiation outreach with a lawsuit and

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<v Speaker 4>have amended that lawsuit once. Still hopeful that these things

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<v Speaker 4>can be resolved, you know, through negotiations, and I think

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<v Speaker 4>just sitting in and understanding what is really best for

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<v Speaker 4>students that are on campus that they can be sure

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<v Speaker 4>that they're in a safe learning environment when they're there

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<v Speaker 4>and not be afraid to go to class. But at

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<v Speaker 4>the same time, we want to make sure if tax

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<v Speaker 4>dollars are funding a lot of what is going on

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<v Speaker 4>in the universities, those universities are abiding by the laws

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<v Speaker 4>of the United States.

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<v Speaker 1>M do the universities think that they will get their

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<v Speaker 1>funding back at the end of their negotiations with the administration?

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<v Speaker 4>Are they saying that they are or are they asking

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<v Speaker 4>will they well?

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<v Speaker 1>Would the administration allow them to get that funding back.

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<v Speaker 4>That's part of the negotiations, of course, that we have

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<v Speaker 4>that are ongoing. It would be my goal that if universities, colleges,

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<v Speaker 4>and universities are abiding by the laws of the United

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<v Speaker 4>States and doing what we're expecting of them, that they

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<v Speaker 4>could expect to have taxpayer funded programs.

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<v Speaker 1>Do you think there's a chance that President Trump leaves

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<v Speaker 1>the White House in three years and some of these

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<v Speaker 1>schools never see that funding come back.

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<v Speaker 5>I would hope that's not the case. We're certainly trying

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<v Speaker 5>to move much more.

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<v Speaker 4>Expeditiously what we've seen since we really began this effort.

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<v Speaker 4>You know, it was kind of a hard hammer at first,

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<v Speaker 4>and so we've now seen a lot of other universities

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<v Speaker 4>who were starting to look at their practices and their

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<v Speaker 4>programs and getting ahead of the curve so that they

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<v Speaker 4>can report back sort of self monitoring.

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<v Speaker 5>Self monitoring is probably not a good way to phrase it, because.

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<v Speaker 4>We couldn't allow that at first, but certainly self evaluation,

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<v Speaker 4>I think is a better way to say it.

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<v Speaker 1>You've talked about universities potentially supplementing the funding that they've

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<v Speaker 1>lost with their own endowments or potentially other sources. Do

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<v Speaker 1>you see a future where the government no longer invest

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<v Speaker 1>research dollars into some of the universities that have very

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<v Speaker 1>large endowments.

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<v Speaker 4>Well, I think, you know, our universities that do some

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<v Speaker 4>remarkable research m And I think if we look at

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<v Speaker 4>our research as for the public good, which I think

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<v Speaker 4>that's intended, then uh, taxpayers I believe are willing to

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<v Speaker 4>see them of their tax dollars, you know, support that

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<v Speaker 4>kind of uh, really good research, and so that I

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<v Speaker 4>would certainly hope that would continue at the university level.

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<v Speaker 1>Okay, I wanna ask you specifically about Harvard, because no

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<v Speaker 1>school has seen more funding rev than Harvard University. The

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<v Speaker 1>president recently said Harvard is starting to behave What did

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<v Speaker 1>he mean by that, and is Harvard back at the

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<v Speaker 1>negotiating table at this point?

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<v Speaker 4>Well, I, uh, I would never like to pretend to

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<v Speaker 4>uh say that everything that the president says that I

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<v Speaker 4>fully can translate for you. But I think clearly what

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<v Speaker 4>he's indicating is that we are I think making progress

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<v Speaker 4>in some of the discussions we're having, even though they

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<v Speaker 4>have taken a hard line. They have, for instance, replaced

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<v Speaker 4>their head of Middle East Studies. They have already put

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<v Speaker 4>in place some of the things that we have talked

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<v Speaker 4>about in our negotiations with Columbia, for instance. None of

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<v Speaker 4>us is suggesting that on college campuses there shouldn't be

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<v Speaker 4>you know, there shouldn't be discussion. There could be orderly

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<v Speaker 4>and nonviolent protests. I mean, college ought to be about

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<v Speaker 4>the exchange of ideas and debate and all of that,

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<v Speaker 4>but it has to be done peacefully. You can't have

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<v Speaker 4>a protest, as the I think it was the president

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<v Speaker 4>of MIT that I met with last week said, you know,

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<v Speaker 4>you can't do a protest at two o'clock in the morning.

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<v Speaker 4>You can't be in the halls of the library and

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<v Speaker 4>prevent other students from getting to the library to study.

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<v Speaker 4>But there are places and time appropriate for peaceful protest.

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<v Speaker 5>This should be allowed, and I think we're all in

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<v Speaker 5>agreement with that.

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<v Speaker 1>The RRS is reviewing.

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<v Speaker 3>Harvard's We're listening, by the way, the Bloomberg BusinessWeek and

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<v Speaker 3>we are bringing you a special conversation Limberg Newsmakers conversation

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<v Speaker 3>with the Secretary of Education Linda Mcmanonchee speaking with our

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<v Speaker 3>White House correspondent Kayla Gardner.

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<v Speaker 4>Large endowments fifty three billion dollars for Hartford, and that

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<v Speaker 4>money doesn't just sit still. It is invested, and if

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<v Speaker 4>it's invested well, they can expect a good return on

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<v Speaker 4>that investment. And so as the citizens of our country

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<v Speaker 4>are providing tax support for those universities that do take

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<v Speaker 4>federal tax dollars, then maybe some of that should come

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<v Speaker 4>back to.

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<v Speaker 5>Our citizens.

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<v Speaker 1>Is the administration planning more actions related to Harvard University

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<v Speaker 1>at this particular time.

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<v Speaker 4>We're continuing with the things that we've already talked about.

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<v Speaker 4>One action we did take relative to Columbia m which

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<v Speaker 4>to make their UH creditor aware UH that they needed

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<v Speaker 4>to make sure that Columbia was abiding by the law

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<v Speaker 4>of the land because they they had had an infraction.

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<v Speaker 5>It was the title six Civil rights. It's which was

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<v Speaker 5>our position, and that they.

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<v Speaker 4>Should examine that because part of the creditor's position is

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<v Speaker 4>to make sure that colleges are lawful, uh, or they

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<v Speaker 4>can risk losing their creditation.

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<v Speaker 1>Did something change in your conversations with Columbia that made

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<v Speaker 1>you send that letter because you have been talking so

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<v Speaker 1>positively about your conversations with the president with the university generally.

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<v Speaker 4>I think one of the things that that made us

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<v Speaker 4>take another look at it is just we're looking at

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<v Speaker 4>accreditation in general mm uh, you know, for colleges and universities,

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<v Speaker 4>because there has been some complaint about that that we

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<v Speaker 4>need to expand the number uh that you know, when

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<v Speaker 4>you think about the fact that all law schools are

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<v Speaker 4>credited you know by the ABA, that's uh it it's

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<v Speaker 4>like a a real monopoly, you know in some areas.

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<v Speaker 4>There have been some times now that you could change.

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<v Speaker 4>Accreditors used to be bound geographically, but some uh changes

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<v Speaker 4>in the rules. So as we've looked at a creditors,

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<v Speaker 4>we wanted to make sure, Okay, let's make sure that

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<v Speaker 4>we are touching all the bases that are relative to UH,

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<v Speaker 4>how our universities need to comport themselves.

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<v Speaker 1>So you think other universities accreditation status should also be

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<v Speaker 1>in question as well.

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<v Speaker 4>I I think we accreditors have a responsibility. It's built

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<v Speaker 4>into what they're supposed to be doing. So we've reminded

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<v Speaker 4>the Columbia creditors, and I think all accreditors now will

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<v Speaker 4>will make sure that they are abiding by.

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<v Speaker 5>The terms of their agreements.

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<v Speaker 1>In that letter to Columbia, you talked about federal student aid.

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<v Speaker 1>Is that something that you would consider limiting for universities

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<v Speaker 1>broadly if you can't come to an agreement with them.

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<v Speaker 5>Ask me a different way.

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<v Speaker 1>I suppose do you think that the administration your department

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<v Speaker 1>specifically should restrict access to federal student aid for universities

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<v Speaker 1>if you feel like they're violating civil rights?

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<v Speaker 4>Well, I think the the certainly the American citizens and

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<v Speaker 4>taxpayers would expect that if colleges and universities, I would

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<v Speaker 4>believe and I've certainly heard, if their pact taxpayer dollars

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<v Speaker 4>are going to those universities, UH, and that there is

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<v Speaker 4>student aid coming for those that we would expect that.

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<v Speaker 5>They would abide by those You never wanted to buy

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<v Speaker 5>by the law. Mm.

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<v Speaker 4>Uh and and and I think we if a university is.

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<v Speaker 5>Accepting federal aid. Mm. You know, we've obviously looked at

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<v Speaker 5>that federal aid.

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<v Speaker 1>There's been reports that consent decrees were on the table

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<v Speaker 1>with Columbia University. Is that accurate? Is that a tool

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<v Speaker 1>that you would use?

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<v Speaker 4>We've uh discussed uh consent decree and uh, so our negotiations.

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<v Speaker 5>Have gone, you know, back and forth. Uh. That's you know,

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<v Speaker 5>it's been part of the negotiations.

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<v Speaker 1>What we've seen it over the past couple of weeks

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<v Speaker 1>has really looked like an all of government approach when

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<v Speaker 1>it comes to higher education, whether it's take the State

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<v Speaker 1>Department or HS. Can you walk us through how those

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<v Speaker 1>decisions are made. Are you guys coordinating with each other?

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<v Speaker 1>Are you speaking directly with the president before you take decisions?

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<v Speaker 4>Well, the President clearly has a a stated goal and

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<v Speaker 4>gives direction. Uh, and we take that direction obviously. But

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<v Speaker 4>there are parts of it. It hasn't all come necessarily at

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<v Speaker 4>the same time.

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<v Speaker 5>Uh.

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<v Speaker 4>When there was a focus on international students and uh

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<v Speaker 4>should we stop international students for coming here or taking

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<v Speaker 4>a look at their visas and et cetera. The State

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<v Speaker 4>Department took on that branch of it, uh, and the

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<v Speaker 4>courts have reacted. I think it was UH yesterday the

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<v Speaker 4>court said noe, that process, you know, needs to be reversed.

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<v Speaker 4>We need to be allowing these students to come back in.

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<v Speaker 4>But let's we then say, okay, well, let's just make

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<v Speaker 4>sure we're that we're conveying to these universities and colleges

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<v Speaker 4>that as these students do come in, they need to

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<v Speaker 4>know more about their background. Because when I've asked some

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<v Speaker 4>of the presidents that I've talked to, do you think

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<v Speaker 4>that a lot of agitation that's occurred on campus or

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<v Speaker 4>are they Are they occurring with students who are going here?

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<v Speaker 4>Are there outside agitators who are coming in? Do you

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<v Speaker 4>see it happening more with foreign students than domestic students?

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<v Speaker 4>And so it's really important, I think, to have a

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<v Speaker 4>handle on that student population. And I think that's fair

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<v Speaker 4>and also universities a little bit aside from students Specifically,

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<v Speaker 4>universities are required under Section one seventeen of Higher Education

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<v Speaker 4>Act to report on the amount of foreign funding they

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<v Speaker 4>are receiving and where it's coming from, because we want

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<v Speaker 4>to make sure there's no undue influence, you know, being levered,

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<v Speaker 4>you know, against the United States.

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<v Speaker 1>So is it best to say that agencies are making

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<v Speaker 1>these decisions independently or are agencies coordinating each other?

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<v Speaker 4>We have coordinated. In fact, we've had a task force.

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<v Speaker 4>The first actions that were taken in with Columbia was

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<v Speaker 4>with the task force, which was GSA, HHS and the

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<v Speaker 4>Department of Education. We've also now brought in DOOJ as

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<v Speaker 4>part of the process as well. So yes, there is

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<v Speaker 4>a coordination with with the agency's Okay.

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<v Speaker 1>You mentioned international students. The President has floated imposing a

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<v Speaker 1>fifteen percent cap on international students, specifically talking about Harvard University,

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<v Speaker 1>but I suppose he could mean all universities. How would

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<v Speaker 1>something like that work.

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<v Speaker 4>I'm not quite sure, but clearly, but Harvard's foreign population

0:12:20.920 --> 0:12:24.240
<v Speaker 4>right now said about twenty seven percent. And we just

0:12:24.240 --> 0:12:27.600
<v Speaker 4>want to make sure that I I I think the

0:12:27.640 --> 0:12:29.760
<v Speaker 4>President just wants to make sure that we're looking at

0:12:30.080 --> 0:12:34.000
<v Speaker 4>m that making sure that UH students in the United

0:12:34.080 --> 0:12:39.560
<v Speaker 4>States aren't penalized by allowing too many international students, you know,

0:12:39.600 --> 0:12:41.280
<v Speaker 4>to come in. And so what is that right balance?

0:12:41.360 --> 0:12:43.760
<v Speaker 4>I'm not sure what it is, but the President certainly

0:12:43.760 --> 0:12:46.920
<v Speaker 4>floated fifteen percent. So let's see as we discussed that

0:12:47.000 --> 0:12:48.520
<v Speaker 4>investigated how that plays out.

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<v Speaker 1>You're a former CEO, you came from the business world.

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<v Speaker 1>Do you worry that less international students could make American

0:12:56.000 --> 0:12:57.400
<v Speaker 1>companies less competitive?

0:12:58.640 --> 0:13:02.440
<v Speaker 4>I I think there is so merit and having international

0:13:02.440 --> 0:13:07.959
<v Speaker 4>students be part of our university population as I as

0:13:08.000 --> 0:13:09.960
<v Speaker 4>I mentioned earlier, or I might not have mentioned in

0:13:10.000 --> 0:13:12.880
<v Speaker 4>this interview, but as we were talking earlier, I served

0:13:12.920 --> 0:13:16.160
<v Speaker 4>on the board of University in Connecticut Secretary University for

0:13:16.200 --> 0:13:19.800
<v Speaker 4>sixteen years. So I know that having international students on

0:13:19.880 --> 0:13:23.360
<v Speaker 4>campus does does help with that cultural exchange. And uh,

0:13:23.480 --> 0:13:27.200
<v Speaker 4>we actually had a campus in Ireland. Uh from a

0:13:27.240 --> 0:13:30.080
<v Speaker 4>sacred heart, So I I really understand that exchange and

0:13:30.120 --> 0:13:33.079
<v Speaker 4>how culturally it's very beneficial. So I wanna make sure

0:13:33.080 --> 0:13:35.040
<v Speaker 4>that we don't lose that. I think that's important for

0:13:35.120 --> 0:13:38.280
<v Speaker 4>us to have. But on the same time, Uh, if

0:13:38.320 --> 0:13:41.000
<v Speaker 4>you think about just last week when it was discovered

0:13:41.000 --> 0:13:43.839
<v Speaker 4>in the backpack of a a research student at the

0:13:43.880 --> 0:13:47.360
<v Speaker 4>University of Michigan, these fungus spores that were intended to

0:13:47.440 --> 0:13:52.000
<v Speaker 4>be utilized against our agricultural products, those are the kinds

0:13:52.040 --> 0:13:53.840
<v Speaker 4>of things that we have to make sure that we

0:13:53.920 --> 0:13:57.720
<v Speaker 4>are on guard against UH and whether whether that would

0:13:57.760 --> 0:14:00.559
<v Speaker 4>be students with this country, But most of the time,

0:14:00.880 --> 0:14:03.560
<v Speaker 4>I think that would have the provincity at least to

0:14:03.600 --> 0:14:08.800
<v Speaker 4>come in internationally that could destroy your crops in America. I

0:14:08.840 --> 0:14:13.160
<v Speaker 4>heard from the Department, from the Secretary of Agriculture when

0:14:13.160 --> 0:14:15.600
<v Speaker 4>she was saying, you know that these things are so

0:14:15.720 --> 0:14:19.720
<v Speaker 4>dangerous because America feeds not only ourselves, but we feed

0:14:19.760 --> 0:14:23.840
<v Speaker 4>the world. And if we are looking to destroy or

0:14:23.880 --> 0:14:27.480
<v Speaker 4>we can our crop production here, it's not only for

0:14:27.520 --> 0:14:29.240
<v Speaker 4>our food, for our health, but it's also.

0:14:29.000 --> 0:14:32.640
<v Speaker 5>Our national defense. So those kinds of measures.

0:14:32.200 --> 0:14:35.280
<v Speaker 4>I think we have to be very very specific and

0:14:35.360 --> 0:14:36.360
<v Speaker 4>sure about.

0:14:36.880 --> 0:14:38.040
<v Speaker 1>You previously led this.

0:14:38.040 --> 0:14:39.200
<v Speaker 2>This is Bloomberg Business Week.

0:14:39.280 --> 0:14:41.560
<v Speaker 1>For those just tuning in, we're listening right now.

0:14:41.440 --> 0:14:43.760
<v Speaker 2>To US Secretary of Education Linda McMahon.

0:14:43.760 --> 0:14:47.040
<v Speaker 1>She's taking part in a Bloomberg Newsmaker event with our

0:14:47.040 --> 0:14:49.560
<v Speaker 1>White House correspondent like Kayla Gardners.

0:14:49.560 --> 0:14:50.520
<v Speaker 2>We'll get back to them right now.

0:14:50.720 --> 0:14:53.680
<v Speaker 4>As we first started to talk about dismantly the department,

0:14:53.960 --> 0:14:58.320
<v Speaker 4>what functions would go perhaps to which agencies? He had

0:14:58.360 --> 0:15:03.040
<v Speaker 4>asked about SBA, also about Treasury, We've talked about HHS,

0:15:03.080 --> 0:15:07.560
<v Speaker 4>perhaps looking at the IDA program, But all of that

0:15:07.680 --> 0:15:10.640
<v Speaker 4>is still part of discussion. It's not an assignment in

0:15:10.720 --> 0:15:14.560
<v Speaker 4>any way, except that Treasury has taken back over the

0:15:14.600 --> 0:15:18.920
<v Speaker 4>collection of student loans, as it always has done served

0:15:18.960 --> 0:15:23.680
<v Speaker 4>in that capacity, So that's not new relative to Treasury.

0:15:24.480 --> 0:15:27.920
<v Speaker 1>The Reconciliation Bill has a lot of changes to federal

0:15:27.960 --> 0:15:32.000
<v Speaker 1>student aid, and one provision in particular, ask you to

0:15:32.040 --> 0:15:36.960
<v Speaker 1>basically place a cap on the amount of loans that

0:15:37.000 --> 0:15:40.120
<v Speaker 1>people can borrow based on the program that they're choosing.

0:15:40.720 --> 0:15:43.360
<v Speaker 1>Have you started to calculate what it would cost to

0:15:43.880 --> 0:15:46.640
<v Speaker 1>have a psychology degree or an engineering degree.

0:15:47.680 --> 0:15:51.240
<v Speaker 4>I've not actually started that process yet, except in conversations.

0:15:51.320 --> 0:15:53.760
<v Speaker 4>I know that Congress had started a lot of that

0:15:53.880 --> 0:15:56.960
<v Speaker 4>kind of work and had done some research relative to

0:15:57.160 --> 0:16:02.120
<v Speaker 4>what the mean cost was across country to take different

0:16:02.280 --> 0:16:06.440
<v Speaker 4>courses and should lending kind of be based on that

0:16:06.760 --> 0:16:09.400
<v Speaker 4>media or that mean cost. And I think that is

0:16:09.440 --> 0:16:12.200
<v Speaker 4>one of the things that I think it was Representative

0:16:12.200 --> 0:16:15.760
<v Speaker 4>Fox who has worked so diligently to bring down the

0:16:15.800 --> 0:16:18.280
<v Speaker 4>cost of college of one of the things that she

0:16:18.400 --> 0:16:21.280
<v Speaker 4>talked about, And so that is something to look at,

0:16:21.440 --> 0:16:27.440
<v Speaker 4>especially for students who can graduate so overburdened by debt

0:16:27.960 --> 0:16:31.800
<v Speaker 4>and not really understanding that the profession that they have

0:16:31.960 --> 0:16:36.560
<v Speaker 4>chosen could never give them the account the amount of

0:16:36.560 --> 0:16:39.520
<v Speaker 4>income or at least the projected or the proven stated

0:16:39.520 --> 0:16:42.160
<v Speaker 4>amounts of income that they might receive to pay off

0:16:42.160 --> 0:16:45.360
<v Speaker 4>that loan. And part of what we are doing with

0:16:45.440 --> 0:16:50.440
<v Speaker 4>the restructuring of the FAFSA application for college is trying

0:16:50.480 --> 0:16:54.880
<v Speaker 4>to work in some language eventually that will say this

0:16:54.920 --> 0:16:57.960
<v Speaker 4>is what you could expect to earn relative to this

0:16:58.040 --> 0:17:01.360
<v Speaker 4>kind of degree in program. This is what this college

0:17:01.480 --> 0:17:03.840
<v Speaker 4>charge is for. This is what a different college would

0:17:03.920 --> 0:17:07.560
<v Speaker 4>charge for. Put this into your calculus as to where

0:17:07.600 --> 0:17:09.560
<v Speaker 4>you would like to go to school and have the

0:17:09.560 --> 0:17:12.439
<v Speaker 4>biggest ROI on what you're doing. I think those are

0:17:12.520 --> 0:17:15.160
<v Speaker 4>really sensible measures to be taking and how to look

0:17:15.200 --> 0:17:17.639
<v Speaker 4>at it, because so many students have no ideas.

0:17:18.040 --> 0:17:19.520
<v Speaker 5>I'll tell you just a little side story.

0:17:19.520 --> 0:17:23.200
<v Speaker 4>When I was running for the Senate in Connecticut back

0:17:23.200 --> 0:17:25.439
<v Speaker 4>in twenty ten, and I went to a freshman class

0:17:25.480 --> 0:17:27.560
<v Speaker 4>in college and I asked, I said, of all of

0:17:27.600 --> 0:17:29.080
<v Speaker 4>you are in this class, how many of you have

0:17:29.119 --> 0:17:30.280
<v Speaker 4>a student eight you know?

0:17:30.359 --> 0:17:31.760
<v Speaker 5>Ninety five percent? Hands go up.

0:17:32.119 --> 0:17:34.080
<v Speaker 4>I said, how many of you know how much interest

0:17:34.160 --> 0:17:39.439
<v Speaker 4>you're paying on that loan? Maybe half the hands went up.

0:17:39.480 --> 0:17:41.399
<v Speaker 4>I said, how many of you know the actual amount

0:17:41.400 --> 0:17:45.159
<v Speaker 4>of the loan? Viewer, I said, how many of you

0:17:45.280 --> 0:17:47.159
<v Speaker 4>know what kind of a job you would have to

0:17:47.160 --> 0:17:49.040
<v Speaker 4>have and how much money you'd have to make to

0:17:49.119 --> 0:17:50.400
<v Speaker 4>start repaying this loan.

0:17:50.640 --> 0:17:51.800
<v Speaker 5>Not a single hand went up.

0:17:52.320 --> 0:17:55.720
<v Speaker 4>So I think we need to provide students with better

0:17:55.840 --> 0:18:01.080
<v Speaker 4>tools of assessing the value of what education they and

0:18:01.160 --> 0:18:04.360
<v Speaker 4>do they need a four year college or are they

0:18:04.400 --> 0:18:07.760
<v Speaker 4>better suited for some other kinds at community college?

0:18:08.200 --> 0:18:10.200
<v Speaker 5>Are we looking at our skill based education?

0:18:10.680 --> 0:18:14.000
<v Speaker 4>How does technology and AI play into all of that

0:18:14.080 --> 0:18:16.800
<v Speaker 4>in their learning process? I think we kind of need

0:18:16.800 --> 0:18:20.720
<v Speaker 4>to rethink, uh, in our whole culture of how we

0:18:20.800 --> 0:18:21.680
<v Speaker 4>look at education.

0:18:22.040 --> 0:18:25.600
<v Speaker 1>Okay, my last question before return to the audience. Would

0:18:25.600 --> 0:18:28.800
<v Speaker 1>you make those calculations public because it could affect what

0:18:28.920 --> 0:18:30.760
<v Speaker 1>major students decide to pursue.

0:18:30.840 --> 0:18:33.679
<v Speaker 4>Oh, definitely, They'll be part of the public forum. And

0:18:33.880 --> 0:18:36.640
<v Speaker 4>I think it's a that's a that's a great thing

0:18:36.720 --> 0:18:41.200
<v Speaker 4>to share, uh with, you know, with anyone who's contemplating going,

0:18:41.640 --> 0:18:44.720
<v Speaker 4>you know, to class and going to college or university

0:18:44.880 --> 0:18:47.919
<v Speaker 4>or community college or however they decide to look at

0:18:48.200 --> 0:18:51.160
<v Speaker 4>at their career. That's I think vital information for them

0:18:51.200 --> 0:18:52.960
<v Speaker 4>to have and for parents.

0:18:54.000 --> 0:18:56.160
<v Speaker 1>Okay, so we're gonna go ahead and take some questions

0:18:56.160 --> 0:18:58.080
<v Speaker 1>from the audience. If you could just raise your hand.

0:18:58.640 --> 0:19:01.520
<v Speaker 1>We just asked that people's say your name an organization

0:19:01.640 --> 0:19:02.600
<v Speaker 1>before you ask your question.

0:19:02.760 --> 0:19:04.760
<v Speaker 2>All right, I think we will jump out. Now. You

0:19:04.800 --> 0:19:08.680
<v Speaker 2>can follow that event on live go on the Bloomberg terminal.

0:19:08.800 --> 0:19:11.600
<v Speaker 3>L I ve go to hear more from a Secretary

0:19:11.640 --> 0:19:15.359
<v Speaker 3>of Education Linda McMahon talking with our White House correspondent

0:19:15.400 --> 0:19:19.320
<v Speaker 3>A Kayla Gardner at a Bloomberg Newsmakers event