Read Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt

Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt

Elizabeth Tandy Shermer

4.9/5 (34838 ratings)

Description:The untold history of how America’s student-loan program turned the pursuit of higher education into a pathway to poverty.It didn’t always take thirty years to pay off the cost of a bachelor’s degree. Elizabeth Tandy Shermer untangles the history that brought us here and discovers that the story of skyrocketing college debt is not merely one of good intentions gone wrong. In fact, the federal student loan program was never supposed to make college affordable.The earliest federal proposals for college affordability sought to replace tuition with taxpayer funding of institutions. But Southern whites feared that lower costs would undermine segregation, Catholic colleges objected to state support of secular institutions, professors worried that federal dollars would come with regulations hindering academic freedom, and elite-university presidents recoiled at the idea of mass higher education. Cold War congressional fights eventually made access more important than affordability. Rather than freeing colleges from their dependence on tuition, the government created a loan instrument that made college accessible in the short term but even costlier in the long term by charging an interest penalty only to needy students. In the mid-1960s, as bankers wavered over the prospect of uncollected debt, Congress backstopped the loans, provoking runaway inflation in college tuition and resulting in immense lender profits.Today 45 million Americans owe more than $1.5 trillion in college debt, with the burdens falling disproportionately on borrowers of color, particularly women. Reformers, meanwhile, have been frustrated by colleges and lenders too rich and powerful to contain. Indentured Students makes clear that these are not unforeseen consequences. The federal student loan system is working as designed.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt. To get started finding Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Pages: —

Format: PDF, EPUB & Kindle Edition

Publisher: —

Release: —

ISBN: 0674251482

Description: The untold history of how America’s student-loan program turned the pursuit of higher education into a pathway to poverty.It didn’t always take thirty years to pay off the cost of a bachelor’s degree. Elizabeth Tandy Shermer untangles the history that brought us here and discovers that the story of skyrocketing college debt is not merely one of good intentions gone wrong. In fact, the federal student loan program was never supposed to make college affordable.The earliest federal proposals for college affordability sought to replace tuition with taxpayer funding of institutions. But Southern whites feared that lower costs would undermine segregation, Catholic colleges objected to state support of secular institutions, professors worried that federal dollars would come with regulations hindering academic freedom, and elite-university presidents recoiled at the idea of mass higher education. Cold War congressional fights eventually made access more important than affordability. Rather than freeing colleges from their dependence on tuition, the government created a loan instrument that made college accessible in the short term but even costlier in the long term by charging an interest penalty only to needy students. In the mid-1960s, as bankers wavered over the prospect of uncollected debt, Congress backstopped the loans, provoking runaway inflation in college tuition and resulting in immense lender profits.Today 45 million Americans owe more than $1.5 trillion in college debt, with the burdens falling disproportionately on borrowers of color, particularly women. Reformers, meanwhile, have been frustrated by colleges and lenders too rich and powerful to contain. Indentured Students makes clear that these are not unforeseen consequences. The federal student loan system is working as designed.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt. To get started finding Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Special Offer | $0.00

Special Offer! | $0.00

Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt

Indentured Students: How Government-Guaranteed Loans Left Generations Drowning in College Debt

More Books

Sunbelt Capitalism: Phoenix and the Transformation of American Politics (Politics and Culture in Modern America)

Sunbelt Capitalism: Phoenix and the Transformation of American Politics (Politics and Culture in Modern America)

Sunbelt Capitalism: Phoenix and the Transformation of American Politics (Politics and Culture in Modern America) by Elizabeth Tandy Shermer (2015-09-22)

Sunbelt Capitalism: Phoenix and the Transformation of American Politics (Politics and Culture in Modern America) by Elizabeth Tandy Shermer (2015-09-22)

Barry Goldwater and the Remaking of the American Political Landscape

Barry Goldwater and the Remaking of the American Political Landscape

The Journal of American History Volume 95, No.3, December 2008 Gambling, Mob Violence & Market revolutions; Barry GoldwaterÕs Early Senate Career; C.Wright Mills; Black Voters, Africa & 1960 Presidential Campaign, Empire & Nation in Early American Hist...

The Journal of American History Volume 95, No.3, December 2008 Gambling, Mob Violence & Market revolutions; Barry GoldwaterÕs Early Senate Career; C.Wright Mills; Black Voters, Africa & 1960 Presidential Campaign, Empire & Nation in Early American Hist...

Work, Capitalism, and Democracy: The United States Since the New Deal (American Business, Politics, and Society)

Work, Capitalism, and Democracy: The United States Since the New Deal (American Business, Politics, and Society)

The Right and Labor in America: Politics, Ideology, and Imagination (Politics and Culture in Modern America)

The Right and Labor in America: Politics, Ideology, and Imagination (Politics and Culture in Modern America)

Contingent Faculty and the Remaking of Higher Education: A Labor History (Working Class in American History)

Contingent Faculty and the Remaking of Higher Education: A Labor History (Working Class in American History)