As student debt reaches one trillion dollars this month, less than two years after education debt surpassed all over forms of debt for the first time in U.S. history, I ask, in a two-part series for Guernica magazine, how did we get here, and is there anything to be done?
- Part I discusses my personal experience with student debt and emphasizes the magnitude of the problem, particularly since Sallie Mae has become a powerful institution that has helped take away bankruptcy protection on student lending.
- Part II looks at the economic philosophy surrounding student lending, mainly the Reaganite idea that education is an individual, not social good, and asks what solutions we might look toward–and what shifts society would do well to make, ideologically–as the problem reaches new heights.
Thanks for reading. As always, your comments are welcome on the Guernica website!