Student loans are not what they used to be. Yet many Babyboomer and older Generation X parents are still telling their children that student debt is “good debt.”
Alan Collinge never imagined he would become a student loan justice activist. Like millions of Americans, however, in spite of working hard, Collinge fell behind on payments and entered a labyrinthine student loan nightmare.
In an economy reeling from the 2008 financial crisis, this is wreaking havoc on the lives of many of America’s young people. Parents and college students alike should read Alan Michael Collinge’s sobering account of America’s student debt bubble.
The Student Loan Scam 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.
This book is a wake-up call that will leave them better informed and far more equipped to make financial decisions for the future.