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Education & Reference - The Debt Trap: How Student Loans Became a National Catastrophe

Description

Book Synopsis: AN NPR AND NEW YORK POST BEST BOOK OF 2021 From acclaimed Wall Street Journal reporter Josh Mitchell, the “devastating account” (The Wall Street Journal) of student debt in America.In 1981, a new executive at Sallie Mae took home the company’s financial documents to review. “You’ve got to be shitting me,” he later told the company’s CEO. “This place is a gold mine.” Over the next four decades, the student loan industry that Sallie Mae and Congress created blew up into a crisis that would submerge a generation of Americans into $1.5 trillion in student debt. In The Debt Trap, Wall Street Journal reporter Josh Mitchell tells the “vivid and compelling” (Chicago Tribune) untold story of the scandals, scams, predatory actors, and government malpractice that have created the behemoth that one of its original architects called a “monster.” As he charts the “jaw-dropping” (Jeffrey Selingo, New York Times bestselling author of Who Gets in and Why) seventy-year history of student debt in America, Mitchell never loses sight of the countless student victims ensnared by an exploitative system that depends on their debt. Mitchell also draws alarming parallels to the housing crisis in the late 2000s, showing the catastrophic consequences student debt has had on families and the nation’s future. Mitchell’s character-driven narrative is “necessary reading” (The New York Times) for anyone wanting to understand the central economic issue of our day.

Details

Are you burdened by the weight of student loans? Are you tired of feeling trapped by debt? Look no further than "The Debt Trap: How Student Loans Became a National Catastrophe." This eye-opening book, as featured on NPR and endorsed by the New York Post, delves deep into the shocking reality of student debt in America. Written by acclaimed Wall Street Journal reporter Josh Mitchell, this "devastating account" will leave you stunned.

Mitchell takes you on a journey through the history and evolution of the student loan industry, exposing the scandals, scams, and predatory practices that have led to a staggering $1.5 trillion in student debt. The fact that one of the industry's own executives was astounded by the financial potential speaks volumes about the magnitude of the crisis. Mitchell uncovers the government malpractice and the role of key players like Sallie Mae, as he paints a vivid and compelling picture of a system that has left a generation drowning in debt.

Drawing alarming parallels to the housing crisis of the late 2000s, Mitchell reveals the catastrophic consequences of student debt on families and the nation's future. As you delve into this character-driven narrative, you will see the human side of the issue – the countless student victims ensnared by an exploitative system that thrives on their debt. It's a jaw-dropping revelation that everyone needs to be aware of.

"The Debt Trap" is necessary reading for anyone seeking to understand the central economic issue of our day. Mitchell's thorough research and engaging storytelling make this book a compelling must-read. Don't miss out on the opportunity to gain valuable insights into a crisis that affects millions. Free yourself from the clutches of student debt. Take the first step towards a brighter financial future by ordering your copy of "The Debt Trap: How Student Loans Became a National Catastrophe" today. Click here to order now!

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