Crushed: How Student Debt Has Impaired a Generation and What To Do About It

This book by economist Linton (Foundations of Investment Management) analyzes the costs and value of a college education. The book examines the rising profitability in the student-loan industry, which forces students to pay unreasonably high interest rates. It also points out that lenders typically discriminate against BIPOC or low-income students who desperately need financial support to complete their education. The book notes that U.S. universities are adequately funded by endowments and taxes, which makes their expensive tuitions unnecessary and unreasonable. The author argues that the accrued debt of students who do not complete their education and the effects on their future must be taken more seriously by those who have the power to do something about it. He advocates for passing national legislation that would reduce or forgive student debt and bankruptcies caused by the costs of education. This book also encourages young people to explore all avenues of financial support, including the many overlooked scholarships they can discover in libraries and university financial counselors’ offices.