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Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Federal aid to education
Languages : en
Pages : 44
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Federal aid to education
Languages : en
Pages : 44
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Book Description
Author: Elizabeth Tandy Shermer
Publisher: Harvard University Press
ISBN: 0674251482
Category : Education
Languages : en
Pages : 401
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Book Description
The untold history of how AmericaÕs student-loan program turned the pursuit of higher education into a pathway to poverty. It didnÕt always take thirty years to pay off the cost of a bachelorÕs 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.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Federal aid to higher education
Languages : en
Pages : 228
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Book Description
Author: Donald Conner
Publisher:
ISBN:
Category : Federal aid to higher education
Languages : en
Pages : 236
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Book Description
Author:
Publisher:
ISBN:
Category : Federal aid to higher education
Languages : en
Pages : 56
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Author:
Publisher:
ISBN:
Category : Federal aid to education
Languages : en
Pages : 6
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Book Description
Author: United States. Congress. Senate. Committee on Government Operations. Permanent Subcommittee on Investigations
Publisher:
ISBN:
Category : Student loans
Languages : en
Pages : 650
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Book Description
Author: United States. Congress. Senate. Committee on Government Operations. Permament Subcommittee on Investigations
Publisher:
ISBN:
Category : Student aid
Languages : en
Pages : 1252
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Book Description
Author: United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education
Publisher:
ISBN:
Category : Default (Finance)
Languages : en
Pages : 408
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Book Description
Author: Beth Akers
Publisher: Princeton University Press
ISBN: 0691181101
Category : Education
Languages : en
Pages : 192
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Book Description
Why fears about a looming student loan crisis are unfounded—and how they obscure what's really wrong with student lending College tuition and student debt levels have been rising at an alarming pace for at least two decades. These trends, coupled with an economy weakened by a major recession, have raised serious questions about whether we are headed for a major crisis, with borrowers defaulting on their loans in unprecedented numbers and taxpayers being forced to foot the bill. Game of Loans draws on new evidence to explain why such fears are misplaced—and how the popular myth of a looming crisis has obscured the real problems facing student lending in America. Bringing needed clarity to an issue that concerns all of us, Beth Akers and Matthew Chingos cut through the sensationalism and misleading rhetoric to make the compelling case that college remains a good investment for most students. They show how, in fact, typical borrowers face affordable debt burdens, and argue that the truly serious cases of financial hardship portrayed in the media are less common than the popular narrative would have us believe. But there are more troubling problems with student loans that don't receive the same attention. They include high rates of avoidable defaults by students who take on loans but don’t finish college—the riskiest segment of borrowers—and a dysfunctional market where competition among colleges drives tuition costs up instead of down. Persuasive and compelling, Game of Loans moves beyond the emotionally charged and politicized talk surrounding student debt, and offers a set of sensible policy proposals that can solve the real problems in student lending.
