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Book

The debt trap: how student loans became a national catastrophe

Call Number

  • 378.38 M6818 (CEN)

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Edition

First Simon & Schuster trade paperback edition.

Publication Information

New York : Simon & Schuster, 2022.

Physical Description

260 pages ; 22 cm

Summary

"The dramatic untold story of the student loan debt crisis in America. For millions, their college investment turned into a nightmare: 43 million people owe a combined $1.6 trillion in student debt, more than both credit card debt and car loans. How did we get here? Acclaimed Wall Street Journal reporter Josh Mitchell's landmark investigation is the first book to tell the full story of the student loan debt crisis in America. The Debt Trap is based on eight years of reporting and hundreds of interviews with the decision-makers who crafted the program, including college presidents, members of Congress, presidential advisers, lobbyists, Wall Street investors, and Sallie Mae CEOs. Mitchell alro profiles student victims whose lives have been irreparably damaged. The Debt Trap reveals the scandals, scams, predatory actors, and government malpractice that have created a system that one of its original architects called a 'monster'".--Back cover.

Contents

  • The visionary (1957-1969)
  • When Ed met Sallie (1969-1990)
  • Our greedy colleges (1974-1990)
  • American dreamer (1991-1995)
  • The Lord of Wall Street (1994-2008)
  • Hope and hubris (2006-2016)
  • The great unequalizer (2014-2015)
  • State U Inc. (2014-2018)
  • The trap (2016-2018).

Subjects