front cover of Indentured Students
Indentured Students
How Government-Guaranteed Loans Left Generations Drowning in College Debt
Elizabeth Tandy Shermer
Harvard University Press, 2021

The untold history of how America’s student-loan program turned the pursuit of higher education into a pathway to poverty.

It didn’t always take thirty years to pay off the cost of a bachelor’s degree. Elizabeth Tandy Shermer untangles the history that brought us here and discovers that the story of skyrocketing college debt is not merely one of good intentions gone wrong. In fact, the federal student loan program was never supposed to make college affordable.

The earliest federal proposals for college affordability sought to replace tuition with taxpayer funding of institutions. But Southern whites feared that lower costs would undermine segregation, Catholic colleges objected to state support of secular institutions, professors worried that federal dollars would come with regulations hindering academic freedom, and elite-university presidents recoiled at the idea of mass higher education. Cold War congressional fights eventually made access more important than affordability. Rather than freeing colleges from their dependence on tuition, the government created a loan instrument that made college accessible in the short term but even costlier in the long term by charging an interest penalty only to needy students. In the mid-1960s, as bankers wavered over the prospect of uncollected debt, Congress backstopped the loans, provoking runaway inflation in college tuition and resulting in immense lender profits.

Today 45 million Americans owe more than $1.5 trillion in college debt, with the burdens falling disproportionately on borrowers of color, particularly women. Reformers, meanwhile, have been frustrated by colleges and lenders too rich and powerful to contain. Indentured Students makes clear that these are not unforeseen consequences. The federal student loan system is working as designed.

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front cover of International and Language Education for a Global Future
International and Language Education for a Global Future
Fifty Years of U.S. Title VI and Fulbright-Hays Programs
David S. Wiley
Michigan State University Press, 2010

The contributions to this book address the role that the U.S. Department of Education Title VI and Fulbright-Hays programs have played in building the largest and highest quality infrastructure in the world for training in languages and other aspects of foreign area knowledge. The volume celebrates the 50th anniversary of the Title VI and associated Fulbright-Hays programs, which have established more than 150 centers of excellence for modern foreign language and area studies and international business education in more than 60 U.S. universities.
     The authors review the history of the programs, including their founding and their cumulative impacts on internationalizing the American university at the graduate and undergraduate levels. They review how programs for foreign research, technology for foreign information access, and undergraduate programs have built the foundations of U.S. language-learning materials for use in college courses and government with improved language-learning pedagogies, erected the most distinguished library holdings on foreign countries, supported in-depth research abroad in virtually every nation, and created capacity to teach more than 200 less commonly taught languages.
 

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front cover of Paying the Price
Paying the Price
College Costs, Financial Aid, and the Betrayal of the American Dream
Sara Goldrick-Rab
University of Chicago Press, 2016
If you are a young person, and you work hard enough, you can get a college degree and set yourself on the path to a good life, right?
 
Not necessarily, says Sara Goldrick-Rab, and with Paying the Price, she shows in damning detail exactly why. Quite simply, college is far too expensive for many people today, and the confusing mix of federal, state, institutional, and private financial aid leaves countless students without the resources they need to pay for it.
 
Drawing on an unprecedented study of 3,000 young adults who entered public colleges and universities in Wisconsin in 2008 with the support of federal aid and Pell Grants, Goldrick-Rab reveals the devastating effect of these shortfalls. Half the students in the study left college without a degree, while less than 20 percent finished within five years. The cause of their problems, time and again, was lack of money. Unable to afford tuition, books, and living expenses, they worked too many hours at outside jobs, dropped classes, took time off to save money, and even went without adequate food or housing. In many heartbreaking cases, they simply left school—not with a degree, but with crippling debt. Goldrick-Rab combines that shocking data with devastating stories of six individual students, whose struggles make clear the horrifying human and financial costs of our convoluted financial aid policies.
 
America can fix this problem. In the final section of the book, Goldrick-Rab offers a range of possible solutions, from technical improvements to the financial aid application process, to a bold, public sector–focused “first degree free” program. What’s not an option, this powerful book shows, is doing nothing, and continuing to crush the college dreams of a generation of young people.
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