The Dark Side of Student Loans

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The Student Loan Scam

To look at the bright side of student loans, there’s no way an awful lot of young Americans would get through college without them these days. They pay the bills.

But look at the dark side of those loans, and it’s a scary picture out there. Skyrocketing college costs have pushed new graduates deeper into debt than ever. And the debt itself is often structured as the most unforgiving loans you’ll ever find.

My guest today, Alan Michael Collinge, says it’s a scam just shy of loan-sharking — and that colleges are in on the game.

This hour, On Point: Shining a bright light on the rough side of student loans.

You can join the conversation. Are you on top of your college loans? Or are they on top of you? Do you see a problem with the system?


Joining us from Seattle is Alan Michael Collinge, founder of and author of the new book "The Student Loan Scam: The Most Oppressive Debt in U.S. History - and How We Can Fight Back." Publisher's Weekly calls it "whistle-blowing at its finest."

From Washington, we're joined by Kelly Field, reporter for The Chronicle of Higher Education covering Congress and education.

Joining us from Philadelphia is William Schilling, director of student financial services at the University of Pennsylvania.

This program aired on February 25, 2009.


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