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The History of Student Loans in the United States

Peoples & Things

CHAPTER

How Government Guaranteed Loans Left a Generation Drowning in College Debt

The federal student loan portfolio currently totals more than $1.6 trillion owed by about 43 million borrowers. Elizabeth Tandy Shermer is an associate professor of history at Loyola University Chicago known to her friends as Ellie. She shows us how our world of individuals drowning in college debt arose from a long series of decisions that prioritize private profit and risk over public benefit.

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