How college loans exploit students for profit | Sajay Samuel
"Once upon a time in America," says professor Sajay Samuel, "going to college did not mean graduating with debt." Today, higher education has become a ...
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Today 40 million Americans are indebted for their passage to the new economy. Too poor to pay their way through college, they now owe lenders more than one trillion US dollars. They do find what jobs they can get to pay off a debt that is secured on their person. In America, even a bankrupt gambler gets a second chance. But it is nearly impossible for an American to get discharged their student loan debts. Once upon a time in America, going to college did not mean graduating with debt. My friend Paul's father graduated from Colorado State University on the GI Bill. For his generation, higher education was free or almost free, because it was thought of as a public good. Not anymore. When Paul also graduated from Colorado State University, he paid for his English degree by working par...
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Today 40 million Americans are indebted for their passage to the new economy. Too poor to pay their way through college, they now owe lenders more than one trillion US dollars. They do find what jobs they can get to pay off a debt that is secured on their person. In America, even a bankrupt gambler gets a second chance. But it is nearly impossible for an American to get discharged their student loan debts. Once upon a time in America, going to college did not mean graduating with debt. My friend Paul's father graduated from Colorado State University on the GI Bill. For his generation, higher education was free or almost free, because it was thought of as a public good. Not anymore. When Paul also graduated from Colorado State University, he paid for his English degree by working par...
