Student Loans: The Fund-Eating Dragon
From 2011, at an Occupy DC protest in Washington. A man holds a sign and a ball and chain, representing his college loan debt. (AP Photo/Jacquelyn Martin) Jacquelyn Martin/ASSOCIATED PRESS hide caption
From 2011, at an Occupy DC protest in Washington. A man holds a sign and a ball and chain, representing his college loan debt. (AP Photo/Jacquelyn Martin)
Jacquelyn Martin/ASSOCIATED PRESSAt the start of the 20th century, only the most privileged could afford to go to college. Today, millions of students pursue higher ed — and owe $1.7 trillion in debt.
Would you believe us if we said it started with Sputnik?
This week on Throughline, we explore the origins of federal student loans, the promises the government made, and how an idealistic vision transformed into what some have called a monster.
If you'd like to read more about this topic:
- Indentured Students: How Government Guaranteed Loans Left Generations Drowning in College Debt by Elizabeth Tandy Shermer
- The Debt Trap: How Student Loans Became a National Catastrophe by Josh Mitchell