{"product_id":"the-student-loan-scam-isbn-9780807042311","title":"The Student Loan Scam","description":"\u003ci\u003eThe Student Loan Scam\u003c\/i\u003e is an exposé of the predatory nature of the $85-billion student loan industry. In this in-depth exploration, Collinge argues that student loans have become the most profitable, uncompetitive, and oppressive type of debt in American history.  \u003cbr\u003e\u003cbr\u003e This has occurred in large part due to federal legislation passed since the mid-1990s that removed standard consumer protections from student loans-and allowed for massive penalties and draconian wealth-extraction mechanisms to collect this inflated debt. High school graduates can no longer put themselves through college for a few thousand dollars in loan debt. Today, the average undergraduate borrower leaves school with more than $20,000 in student loans, and for graduate students the average is a whopping $42,000. For the past twenty years, college tuition has increased at more than double the rate of inflation, with the cost largely shifting to student debt.  \u003cbr\u003e\u003cbr\u003e Collinge covers the history of student loans, the rise of Sallie Mae, and how universities have profited at the expense of students. The book includes candid and compelling stories from people across the country about how both nonprofit and for-profit student loan companies, aided by poor legislation, have shattered their lives-and livelihoods. With nearly 5 million defaulted loans, this crisis is growing to epic proportions.  \u003cbr\u003e\u003cbr\u003e \u003ci\u003eThe Student Loan Scam\u003c\/i\u003e takes an unflinching look at this unprecedented and pressing problem, while exposing the powerful organizations and individuals who caused it to happen. Ultimately, Collinge argues for the return of standard consumer protections for student loans, among other pragmatic solutions, in this clarion call for social action.\"Alan Collinge has lived through the national student debt crisis, and  he has an astonishing tale to tell. Read and be outraged.\"\u003cbr\u003e —Anya Kamenetz, author of \u003ci\u003eGeneration Debt\u003c\/i\u003e\u003cbr\u003e\u003cbr\u003e\"Alan  Collinge has been to student loan hell and has managed to survive to  tell about the experience. Turning his personal nightmare into a cause  for activism, Collinge has emerged as one of the most effective critics  of the student loan industry and its patrons in Washington. Readers will  be as outraged as he is with what passes for federal student loan  policy.\"—Barmak Nassirian, Associate Executive Director, American  Association of Collegiate Registrars and Admissions Officers (AACRAO)\u003cbr\u003e\u003cbr\u003e\"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 \u003ci\u003eFree Lunch\u003c\/i\u003e and \u003ci\u003ePerfectly Legal\u003c\/i\u003e\u003cbr\u003e\u003cbr\u003e\"If you plan on borrowing money for college, spend a few extra dollars and buy a copy of \u003ci\u003eThe Student Loan Scam\u003c\/i\u003e.  Relevant and deeply timely, this book's excellent advice could very  well save you thousands of dollars and spare you a ton of grief.\"—Lynn  O'Shaughnessy, author of \u003ci\u003eThe College Solution: A Guide for Everyone Looking for the Right School at the Right Price\u003cbr\u003e\u003cbr\u003e\u003c\/i\u003e\"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 from Collinge, founder of StudentLoanJustice.org. The   author had a manageable $38,000 in loans-until he missed a single   payment . . . and his debt mushroomed to more than $100,000. The author   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.  There are currently  more than five million defaulted loans on record,  and incredibly,  student loans are the only type of loan in U.S. history  to be  nondischargable in bankruptcy. The author exposes the engineers  (and  profiteers) of this predatory system and 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.—\u003ci\u003ePublishers Weekly\u003c\/i\u003e, starred review\u003cb\u003eAlan Michael Collinge\u003c\/b\u003e is Founder of StudentLoanJustice.Org, a grassroots organization, and political action committee.   He holds B.S., M.S., and Eng. Degrees in aerospace engineering from the University of Southern California.  \u003cbr\u003e\u003cbr\u003eSince Founding StudentLoanJustice.Org in March, 2005 as a result of his own personal experiences with college loans, Collinge has been featured on \u003ci\u003e60 Minutes\u003c\/i\u003e, and also in print media including \u003ci\u003eFortune Magazine, the San Francisco Chronicle, The Boston Phoenix, The Village Voice, Inside Higher Ed\u003c\/i\u003e, and others.  He has published editorials in \u003ci\u003ethe Los Angeles Times, Baltimore Sun, Denver Post\u003c\/i\u003e, and many other outlets. \u003cbr\u003e\u003cbr\u003ePrior to founding StudentLoanJustice.Org, Collinge was Associate Scientist of Aeronautics at the California Institute of Technology, and also was regional project director for a government loan program administered by the U.S. Department of Transportation.","brand":"Beacon Press","offers":[{"title":"Default Title","offer_id":46300418867429,"sku":"NP9780807042311","price":20.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780807042311.jpg?v=1767741710","url":"https:\/\/k12savings.com\/es\/products\/the-student-loan-scam-isbn-9780807042311","provider":"K12savings","version":"1.0","type":"link"}