Indentured Students
For decades, government backed student loans, like the home mortgage, helped define the American dream, enabling ambitious teens to pay for college in exchange for a lifetime of higher earnings. Now, the $1 trillion in outstanding student loans has become a nightmare, imprisoning students in a lifetime of debt. Bloomberg reporters John Hechinger and Janet Lorin, in a year-long series of articles, exposed abuses in higher education finance. Their relentless reporting contributed to new federal rules on debt collection, the introduction of several Congressional bills, and reforms by the colleges themselves. It shed light on a long-unaccountable sector in the American economy: higher education.
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