||This pamphlet contains a World Socialist Web Site investigative report on the history and predatory policies of the student loan industry. This specialized wing of the finance industry is bankrupting a generation, by unabashedly profiteering from the determination of young people to learn, be productive and secure a college degree.
Exposing the parasitic role played by loan corporations such as SLM Corporation—now called Sallie Mae, student loan debt has now exceeded credit card debt for the first time as of June 2010.
Student loans are the most lucrative form of debt in the finance industry because of their federally mandated right to impose usurious fees and penalties. Lenders are also legally able to garnishee wages, tax returns and Social Security and disability payments without so much as a court order.
Printed as past of the International Youth and Students for Social Equality (IYSSE) series, the IYSSE advances the argument that everyone is entitled to a decent education. It fights for a public works program to hire thousands of teachers, reduce class sizes, repair older schools and build new ones, and equip all schools with the most up-to-date books and learning technology—a political struggle that can only be achieved by the mobilization of the international working class against the capitalist system.
International Students for Social Equality Print Series.
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