ICYMI: CBA President and CEO Lindsey Johnson Calls for Greater Transparency, Data Reporting Around College Costs and Outcomes

press release

September 29, 2026

NEW YORK, N.Y. - Consumer Bankers Association (CBA) President and CEO Lindsey Johnson participated in a fireside chat with U.S. News and World Report Executive Chairman and CEO Eric Gertler yesterday to discuss the rising cost of higher education, the value of a college degree, and the role banks play in helping students and families finance their education. Johnson also highlighted lessons from the banking industry's experience with consumer lending, including the importance of greater transparency around costs, borrowing, and post-graduation outcomes and how considering a borrower's ability to repay a loan before they take it can help students and families make informed financial decisions.

To read a recap of the conversation, click HERE or keep reading below.

Eric Gertler hosts a conversation with Lindsey Johnson, President and CEO, Consumer Bankers Association, during the U.S. News Future of Higher Education Forum in New York City on Sept. 28, 2026.

Banking Executive Calls for Greater Transparency Around College Costs and Outcomes
By Christina Carrega
U.S. News and World Report
Sept. 28, 2026

The rising cost of college and the growing burden of student debt are making families more focused on whether a degree will pay off, says Consumer Bankers Association President and CEO Lindsey Johnson.

Johnson spoke Monday with U.S. News & World Report Executive Chairman and CEO Eric Gertler at the U.S. News Future of Higher Education Forum, hosted in New York City, in a conversation that centered on college affordability, the value of a degree, and the information students and families need to make decisions about borrowing for higher education.

The CBA represents retail banks that offer a range of financial products, including student loans. The organization represents a relatively small share of the student lending market, Johnson noted, as the federal government accounts for the vast majority of student lending.

Still, Johnson said, the banking industry's experience with consumer lending offers lessons for higher education, particularly when it comes to pricing and transparency.

Consumers are increasingly questioning whether the financial investment in college will lead to the career and earnings they expect, particularly as some graduates face weaker job prospects and longer waits to reach other financial milestones, such as buying a home.

That uncertainty is contributing to what Johnson described as "financial nihilism" among consumers who feel they followed conventional advice about obtaining a college degree but who are now facing significant debt and an uncertain job market.

Trust is another concern. Johnson said colleges could learn from the banking industry's experience rebuilding consumer trust by being more transparent about pricing and the risks associated with borrowing.

"One of the most important things that we cannot do is not be transparent and disciplined about your market prices," Johnson said.

Families should have clearer information, like an itemized breakdown about the actual cost of attending college, rather than relying primarily on published tuition prices, she said. Students could also benefit from receiving regular information about how much they have borrowed and what that debt could mean after graduation, she added.

The discussion also touched on whether students should consider earnings associated with different majors and programs when deciding whether and where to attend college.

Providing information about outcomes should not amount to assigning greater value to higher-paying careers, Johnson said. Professions such as teaching, journalism and public service can be essential even when they don't offer the same earnings as some private-sector careers.

Students should have access to consistent information about the outcomes associated with different programs, including earnings and repayment performance, Johnson said.

The conversation comes as U.S. News has updated its Best Colleges rankings methodology to include earnings by major. The 2027 rankings were published Sept. 22.

Johnson said the ranking factor change - which replaced graduate indebtedness with earnings by major - gives students and families more reliable information when comparing programs. More information equips families to better know what they are paying for higher education, Johnson added.

She also called on the federal government to provide more data about outcomes by major and academic program, including information that could help students understand both earnings and student loan repayment.

Looking ahead, Johnson said greater transparency could help restore market discipline in higher education by giving students more information and encouraging institutions and lenders to respond to what consumers value.

For parents and students, Johnson's advice is straightforward: Ask questions before taking on debt, including what graduates do after earning a particular degree and what their long-term financial prospects look like.

"We can do better," Johnson said. "I think we can take very meaningful steps to just put some of that information out into the marketplace and put as much power and information into the consumer."

Background

Earlier this year, CBA released a white paper, Recent Graduate Student Lending Reform: Analysis and Recommendations, that outlines forthcoming changes to the student lending market with the implementation of H.R. 1, and specifically changes to the GRAD Plus lending market by the federal government, that took effect July 2026.

The white paper examines how the private sector can support the lending needs for future borrowers who may have otherwise received a GRAD Plus loan, and provide recommendations to enhance greater transparency and data, which can not only help better underwrite borrowers and arm borrowers with more information to assess the costs and benefits of different graduate programs.