Offering answers to essential questions about student debt and many connected issues, this book examines student debt in the United States at every stage of the process-from the banks that issue the loans to the colleges and universities that collect the payments. Student lending in the United States is one of the most controversial issues in contemporary American discourse. Are these loans the only option for Americans who want to attend college and university in order to attain the best careers and have a productive, enjoyable life? Should the predatory lending practices of for-profit…mehr
Offering answers to essential questions about student debt and many connected issues, this book examines student debt in the United States at every stage of the process-from the banks that issue the loans to the colleges and universities that collect the payments. Student lending in the United States is one of the most controversial issues in contemporary American discourse. Are these loans the only option for Americans who want to attend college and university in order to attain the best careers and have a productive, enjoyable life? Should the predatory lending practices of for-profit colleges and universities be stopped? How can limits be imposed on student lending amounts without preventing students from getting the education they need to succeed? The book explains why so many students are borrowing large amounts of money to attend college; considers whether the cost of higher education is simply too high, and if there should be a cap on how much money students can borrow; explains what is contributing to the rising rate of borrowers defaulting on their loans; and predicts whether the so-called student loan bubble is in danger of popping. The Data and Documents chapter analyzes data gathered from discussions about student debt. This information enables readers to better understand who is borrowing student loans, what the money from the student loans is going toward, what individuals have the authority to decide who qualifies for these loans, and what is being done to curb wasteful student spending.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
Preface 1 Background and History Introduction 1958: National Defense Student Loan Program 1965: The Higher Education Act-Loan Guarantees 1972: Education Amendments Ascendance of Student Loans within the Financial Aid System Sallie Mae 1978: Middle-Income Student Assistance Act 1980s: Student Loans Become the Dominant Paradigm in Financial Aid Changing Perceptions of Student Loans Conclusion References 2 Problems Controversies and Solutions Introduction Following Borrowers Protecting Creditors Defining the "Problem" as One of Repayment Strain Leads to Narrowly Focused "Solutions " Tweaks around the Margins Rather Than Fundamental Reconsiderations Information as the Answer Putting a Lid on Student Borrowing-Is "Nothing" Better Than Student Debt? Channeling Momentum for Good Free College? How about a Bailout? Conclusion References 76 3 Perspectives Introduction Student Debt: How Did We Get Here and Why Should We Worry?: Mark Huelsman Student Loans and Bankruptcy in the United States: Rajeev Darolia Advice from Our Side of the FAFSA: Scott and Mandy Sponholtz Developing a Mind-Set for Paying Off Student Debt: Phil Schuman Education: Still Valuable Just Not Equitable: Melinda Lewis The College Conundrum-Does Student Debt Cancel Out the Value of Higher Education?: Aaron Conrad 4 Profiles Introduction Researchers Beth Akers Sandy Baum Meta Brown Rohit Chopra Rajeev Darolia Jason Delisle Rachel E. Dwyer Susan Dynarski William R. Emmons Richard Fry Sara Goldrick-Rab Darrick Hamilton Donald E. Heller Robert Hiltonsmith Jason N. Houle Mark Huelsman Bridget T. Long Ben Miller Laura W. Perna Fabian T. Pfeffer Tom Shapiro Edward P. St. John Journalists Anya Kamenetz Nicholas Lemann Research and Policy Organizations Access Group Center for Responsible Lending Center on Assets Education and Inclusion Demos Education Trust Federal Reserve Bank of New York The Institute for College Access & Success National Association of Student Financial Aid Administrators National Center on Education Statistics New America United for a Fair Economy Veterans Education Success Woodstock Institute Young Invincibles Organizations Providing Resources and Relief for Borrowers Hamilton Project Student Debt Crisis Student Groups and Movements Strike Debt/Rolling Jubilee Student Labor Action Project Fighting for a Debt-Free Future United States Student Association Media Organizations Hechinger News Service Huffington Post References 5 Data and Documents Data Figure 5.1 Student Debt by Family Income Figure 5.2 Student Loan Debt by Race/Ethnicity and Class Figure 5.3 Average Debt for Bachelor's Degree Recipients Figure 5.4 Use of Student Loans and Cumulative Debt by Institution Type Figure 5.5 Average Debt for Associate's Degree Recipients over Time Figure 5.6 Trends in Education Finance: Appropriations for Postsecondary Education and Net Tuition Figure 5.7 Twenty-Year Trend in Student Loan Utilization Table 5.1 Student Debt in Selected Countries Figure 5.8 State Spending on Higher Education per Full-Time Equivalent Student in Constant 2010 Dollars Figure 5.9 Average Estimated Full-Time Undergraduate Budgets 2015-2016 Figure 5.10 Total Student Loan Debt in Millions of (2014) Dollars Documents College Opportunity for a Better America Act (March 18 2003) Senate Hearing "Higher Education Higher Cost and Higher Debt" (February 16 2007) Senate Hearing "The Looming Debt Crisis" (March 20 2012) Student Loan Affordability Act (April 11 2013) President Obama's Remarks on Signing the Bipartisan Student Loan Certainty Act of 2013 (August 9 2013) Memorandum on Helping Struggling Federal Student Loan Borrowers Manage Their Debt (June 9 2014) President Obama's Remarks at a Question- and-Answer Session on Student Loan Debt and College Affordability with Tumblr Participants (June 10 2014) Student Loan Servicing Reform Fundamentals (2016) Senator Elizabeth Warren's Questions Following Inspector General Report Detailing Faulty and Inaccurate Review of Servicemembers Civil Relief Act Compliance by Student Loan Servicers (March 3 2016) 6 Resources 7 Chronology Glossary Index About the Authors
Preface 1 Background and History Introduction 1958: National Defense Student Loan Program 1965: The Higher Education Act-Loan Guarantees 1972: Education Amendments Ascendance of Student Loans within the Financial Aid System Sallie Mae 1978: Middle-Income Student Assistance Act 1980s: Student Loans Become the Dominant Paradigm in Financial Aid Changing Perceptions of Student Loans Conclusion References 2 Problems Controversies and Solutions Introduction Following Borrowers Protecting Creditors Defining the "Problem" as One of Repayment Strain Leads to Narrowly Focused "Solutions " Tweaks around the Margins Rather Than Fundamental Reconsiderations Information as the Answer Putting a Lid on Student Borrowing-Is "Nothing" Better Than Student Debt? Channeling Momentum for Good Free College? How about a Bailout? Conclusion References 76 3 Perspectives Introduction Student Debt: How Did We Get Here and Why Should We Worry?: Mark Huelsman Student Loans and Bankruptcy in the United States: Rajeev Darolia Advice from Our Side of the FAFSA: Scott and Mandy Sponholtz Developing a Mind-Set for Paying Off Student Debt: Phil Schuman Education: Still Valuable Just Not Equitable: Melinda Lewis The College Conundrum-Does Student Debt Cancel Out the Value of Higher Education?: Aaron Conrad 4 Profiles Introduction Researchers Beth Akers Sandy Baum Meta Brown Rohit Chopra Rajeev Darolia Jason Delisle Rachel E. Dwyer Susan Dynarski William R. Emmons Richard Fry Sara Goldrick-Rab Darrick Hamilton Donald E. Heller Robert Hiltonsmith Jason N. Houle Mark Huelsman Bridget T. Long Ben Miller Laura W. Perna Fabian T. Pfeffer Tom Shapiro Edward P. St. John Journalists Anya Kamenetz Nicholas Lemann Research and Policy Organizations Access Group Center for Responsible Lending Center on Assets Education and Inclusion Demos Education Trust Federal Reserve Bank of New York The Institute for College Access & Success National Association of Student Financial Aid Administrators National Center on Education Statistics New America United for a Fair Economy Veterans Education Success Woodstock Institute Young Invincibles Organizations Providing Resources and Relief for Borrowers Hamilton Project Student Debt Crisis Student Groups and Movements Strike Debt/Rolling Jubilee Student Labor Action Project Fighting for a Debt-Free Future United States Student Association Media Organizations Hechinger News Service Huffington Post References 5 Data and Documents Data Figure 5.1 Student Debt by Family Income Figure 5.2 Student Loan Debt by Race/Ethnicity and Class Figure 5.3 Average Debt for Bachelor's Degree Recipients Figure 5.4 Use of Student Loans and Cumulative Debt by Institution Type Figure 5.5 Average Debt for Associate's Degree Recipients over Time Figure 5.6 Trends in Education Finance: Appropriations for Postsecondary Education and Net Tuition Figure 5.7 Twenty-Year Trend in Student Loan Utilization Table 5.1 Student Debt in Selected Countries Figure 5.8 State Spending on Higher Education per Full-Time Equivalent Student in Constant 2010 Dollars Figure 5.9 Average Estimated Full-Time Undergraduate Budgets 2015-2016 Figure 5.10 Total Student Loan Debt in Millions of (2014) Dollars Documents College Opportunity for a Better America Act (March 18 2003) Senate Hearing "Higher Education Higher Cost and Higher Debt" (February 16 2007) Senate Hearing "The Looming Debt Crisis" (March 20 2012) Student Loan Affordability Act (April 11 2013) President Obama's Remarks on Signing the Bipartisan Student Loan Certainty Act of 2013 (August 9 2013) Memorandum on Helping Struggling Federal Student Loan Borrowers Manage Their Debt (June 9 2014) President Obama's Remarks at a Question- and-Answer Session on Student Loan Debt and College Affordability with Tumblr Participants (June 10 2014) Student Loan Servicing Reform Fundamentals (2016) Senator Elizabeth Warren's Questions Following Inspector General Report Detailing Faulty and Inaccurate Review of Servicemembers Civil Relief Act Compliance by Student Loan Servicers (March 3 2016) 6 Resources 7 Chronology Glossary Index About the Authors
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