Student Loan Blues

The Student Loan Scam

An in-depth exploration and expose of the predatory nature of the student loan industry
For the past thirty years, college tuition has risen at double the rate of inflation, with the cost largely shifting to student debt. Alan Collinge argues that student loans have become the most profitable, uncompetitive, and oppressive type of debt in American history.
In an unprecedented analysis of this $85-billion industry, Collinge covers the history of student loans, the rise of Sallie Mae, and how universities have profited at the expense of students. The Student Loan Scam includes stories from people across the country about how both nonprofit and for-profit student loan companies, aided by poor legislation, have shattered their lives–and livelihoods. With nearly 5 million defaulted loans, average undergraduate borrowers leaving school with $20,000 of debt, and average graduate borrowers accruing $42,000 in debt, this crisis is growing to epic proportions.
In this clarion call for social action, Collinge offers pragmatic solutions, including returning standard consumer protections to student loans.
“Collinge has lived through the national student debt crisis and has an astonishing tale to tell. Read and be outraged.”
–Anya Kamenetz, author of Generation
“Alan Collinge has been to student-loan hell, and has managed to survive to tell about the experience. Turning his personal nightmare into a cause for activism, Collinge has emerged as one of the most effective critics of the student loan industry and its patrons in Washington. Readers will be as outraged as he is with what passes for federal student loan policy.”
–Barmak Nassirian, Associate Executive Director, American Association of Collegiate Registrars and Admissions Officers (AACRAO)
“Students and parents planning to borrow money to finance a college or technical school education should read Alan Collinge’s warnings and advice before they sign any loan papers.”
–David Cay Johnston, author of Free Lunch and Perfectly Legal
“If you plan on borrowing money for college, spend a few extra dollars and buy a copy of The Student Loan Scam. Relevant and deeply timely, this book’s excellent advice could very well save you thousands of dollars and spare you a ton of grief.”
–Lynn O’Shaughnessy, author of The College Solution: A Guide for Everyone Looking for the Right School at the Right Price

Product Specification :

ISBN :0807042293
Format :Hardcover
Publisher :Beacon Pr
Date Published :02/01/2009
List price :22.95

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