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The Student Loan Scam

The Student Loan Scam

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Add This - The Student Loan Scam

Written by Alan CollingeAuthor Alerts:  Random House will alert you to new works by Alan Collinge

  • Format: Trade Paperback, 184 pages
  • Publisher: Beacon Press
  • On Sale: February 1, 2010
  • Price: $20.00
  • ISBN: 978-0-8070-4231-1 (0-8070-4231-5)
about this book

Named one of CNN Money’s financial heroes, Alan Michael 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 students’ expense while telling stories of people whose lives have been shattered as a result–including his own.

“Think credit-card debt is a problem? Take a look at the lives ruined through the corporate thug tactics, usurious fees and vicious harassment employed by some of the nation’s largest student-loan providers in this shocking exposé.… [Collinge] reveals that since lenders make far more money from defaulted loans than they do from borrowers in good standing, they go to extraordinary–and illegal–lengths to force borrowers into default.…[He] urges Congress to restore standard consumer protections to student loans, concluding with a call to arms for progressive changes, refinancing rights and a plethora of practical advice for borrowers. Comprehensive and stirring, this extraordinary book is whistle-blowing at its finest.”–Publishers Weekly, starred review

“That Collinge writes from personal experience makes The Student Loan Scam passionate and informed.”–Rich Barlow, Boston Globe

“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