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Open AccessFeature PaperArticle
Humanities 2017, 6(2), 20; doi:10.3390/h6020020

Investing in College Education: Debtors, Bettors, Lenders, Brokers

Department of English, University of Minnesota, Twin Cities, Minneapolis, 55455 MN, USA
Academic Editor: Ronald Strickland
Received: 18 January 2017 / Revised: 14 March 2017 / Accepted: 31 March 2017 / Published: 10 April 2017
(This article belongs to the Special Issue Saving the Humanities from the Neoliberal University)
View Full-Text   |   Download PDF [238 KB, uploaded 11 April 2017]

Abstract

Federal and private lenders have issued college student loans, now rising above $1.3 trillion nationwide and, to gain revenues for continued lending, sell them to securitizers who in turn bundle them into asset-backed securities. This paper argues that the magnitude of debt, high rates of default and forgiveness, and uncertain long-term repayment by borrowers facing lackluster job opportunities replicate the techniques of neoliberal financialization (subprime mortgages, securitization, overstocked housing market) that triggered the 2008 economic meltdown. View Full-Text
Keywords: college student debt; Federal Direct Loan Program; loan industry; financialization; loan securitization; profit from debt college student debt; Federal Direct Loan Program; loan industry; financialization; loan securitization; profit from debt
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Messer-Davidow, E. Investing in College Education: Debtors, Bettors, Lenders, Brokers. Humanities 2017, 6, 20.

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