The Debt Trap Review How Student Loans Became a National Catastrophe

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The Student Loan Debt Trap Review : How They Became a National Disaster. In 1981, a new Sallie Mae executive brought the company’s financial paperwork home to inspect. He later informed the company’s CEO, “You’ve got to be shitting me.” “This place is a gold mine,” says the narrator.

The Debt Trap Summary

Sallie Mae and Congress built a student loan industry that exploded into a crisis that buried a generation of Americans under $1.5 trillion in student debt over the next four decades.

In The Debt Trap, Wall Street Journal writer Josh Mitchell exposes the “vivid and fascinating” (Chicago Tribune) unreported narrative of the scandals, scams, predatory actors, and government negligence that have led to the creation of the “monster” that one of its initial architects dubbed.

Good Money Revolution Summary

Mitchell never loses sight of the innumerable student victims ensnared by an exploitative system that relies on their debt as he tracks the “jaw-dropping” (Jeffrey Selingo, New York Times bestselling book of Who Gets in and Why) seventy-year history of student debt in America.

Mitchell also draws disturbing comparisons to the late-2000s housing crisis, demonstrating the devastating effects student debt has had on families and the country’s future. Mitchell’s character-driven story is “essential reading” (The New York Times) for anybody interested in understanding today’s most pressing economic crisis.

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The Debt Trap Book Release Date

Book Name:The Debt Trap Josh Mitchell
Publisher:Simon & Schuster
Publishing Date(August 9, 2022)
Language :English
ISBN?:978-1501199479
File Size: / Pages272

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About Author: Josh Mitchell the Debt Trap

Josh Mitchell is a correspondent for The Wall Street Journal’s Washington bureau, covering economics and higher education. He was designated the nation’s top education beat writer among large media by the Education Writers Association in 2016, saying his work “unique, comprehensive, insightful, and a must-read for policymakers, prospective and existing college students, and their parents.” He is based in Washington, DC, and works there.

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Conclusion: The Debt Trap by Josh Mitchell Review

How did student loans, which were supposed to be a major experiment in social mobility, end up in such a mess? This is a must-read book.

The author delves into the history of student loans and provides a detailed explanation of how they got started on the first CD of the audiobook. The entire audiobook is like a terrific college class on student loans and how they got into trouble.

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