Lessons Learned From The Privatization Of Sallie Mae

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Breaking Point

Author : Kevin W. Connell
Publisher : Rowman & Littlefield
ISBN 13 : 1475826044
Total Pages : 165 pages
Book Rating : 4.4/5 (758 download)

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Book Synopsis Breaking Point by : Kevin W. Connell

Download or read book Breaking Point written by Kevin W. Connell and published by Rowman & Littlefield. This book was released on 2016-09-20 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the crisis of college affordability has emerged as one of the defining challenges of our era. Since 1978, college tuition and fees have soared by 1,120 percent, growing at three times the rate of housing prices and four times the rate of the increase in the hourly wage. The inevitable consequence has resulted in a national student debt that surpassed $1.3 trillion in 2015, crushing the average household under $35,000 in student debt. Breaking Point explains flaws in the structure of higher education that have caused college prices to soar over our lifetime, including “prestige maximization,” a perpetual “amenities war,” and a predatory lending industry that has not only fostered but encouraged the explosion of college costs. To counter this trend, Kevin Connell proposes several bold solutions that are intended to induce colleges and lenders alike to redefine the structure, price, and ultimate purpose of higher education in America.

Opening Credit

Author : Justin McGowan
Publisher : Harriman House Limited
ISBN 13 : 0857194682
Total Pages : 216 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis Opening Credit by : Justin McGowan

Download or read book Opening Credit written by Justin McGowan and published by Harriman House Limited. This book was released on 2015-04-08 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a result of prevailing monetary conditions since the global financial crisis, the world has witnessed unprecedented growth in global corporate credit markets. Yet, despite the trillions of dollars put to work in the debt capital markets, corporate credit is still an unfamiliar concept to most investors compared to other asset classes, such as equities and commodities. Every red-top newspaper and 24-hour news service is happy to report the latest twitch in the Dow, FTSE or Stoxx indices but momentous moves in the iBoxx or iTraxx go unmentioned. And whereas many a talking head is happy to pose as an equity analyst, few feel comfortable venturing into the arcana of credit. Yet the corporate credit market, as the authors of this new book show, is both materially larger than its equity peer and has shown more attractive risk/reward characteristics over the last 90-odd years. In Opening Credit, career credit professionals, Justin McGowan and Duncan Sankey, aim to redress this by drawing on their more than 50 years' collective experience in the field to elucidate a practitioner’s approach to corporate credit investment. Whilst explaining the basics of traditional credit analysis and affirming its value, McGowan and Sankey also caution against its shortcomings. They demonstrate the need both to penetrate the veil of accounting to get to the economic reality behind the annuals and interim numbers and to analyse the individuals that drive them - the key executives and board members. They employ a range of cogent and easy-to-follow case studies to illustrate the value of their executive- and governance-led approach, which places management front and centre in understanding corporate credit. Opening Credit will appeal to all those seeking a better understanding of corporate credit, including analysts looking to develop their skills, fund managers (especially those with an eye to SRI), bankers, IFAs, financial journalists, academics and students of finance.

Normalizing an American Right to Health

Author : Christina S. (Professor of Law Ho, Professor of Law Rutgers Law School)
Publisher : Oxford University Press
ISBN 13 : 0197650597
Total Pages : 297 pages
Book Rating : 4.1/5 (976 download)

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Book Synopsis Normalizing an American Right to Health by : Christina S. (Professor of Law Ho, Professor of Law Rutgers Law School)

Download or read book Normalizing an American Right to Health written by Christina S. (Professor of Law Ho, Professor of Law Rutgers Law School) and published by Oxford University Press. This book was released on 2023 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues against the conventional wisdom that a U.S. right to health is out of reach. It shows that the necessary change is not extraordinary but familiar and that the law has already laid considerable groundwork in ordinary statutes and case law. This descriptive foundation, revealed through the application of well-accepted theories of rights, has simply yet to be either acknowledged as, or relied upon, for rights-building. The book then moves from the descriptive task of showing where a right to health already exists in our legal corpus to the prescriptive goal of showing how we could feasibly and meaningfully expand the right through ordinary policies that are widely used in other domains, including impact assessments and state-sponsored reinsurance. By normalizing American health rights discourse and bringing a right to health, including a right to health care, within the domain of ordinary policy debate, this book arms health advocates for the sharp political contests over health that we face today. Amid the prevailing neoliberal, neo-Lochnerian ideologies that have led us to a dead-end, this book proposes a rival ethic that has been developing right under our noses, one focused on embodied justice, where the priority is squarely on the human and our capacity for suffering and flourishing.

How the Other Half Banks

Author : Mehrsa Baradaran
Publisher : Harvard University Press
ISBN 13 : 0674286065
Total Pages : 337 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis How the Other Half Banks by : Mehrsa Baradaran

Download or read book How the Other Half Banks written by Mehrsa Baradaran and published by Harvard University Press. This book was released on 2015-10-06 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities—all thanks to deregulation that began in the 1970s and continues decades later. “Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal...How the Other Half Banks is well researched and clearly written...The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.” —Nancy Folbre, New York Times Book Review “How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.” —Lisa J. Servon, American Prospect

Debtfare States and the Poverty Industry

Author : Susanne Soederberg
Publisher : Routledge
ISBN 13 : 131764672X
Total Pages : 347 pages
Book Rating : 4.3/5 (176 download)

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Book Synopsis Debtfare States and the Poverty Industry by : Susanne Soederberg

Download or read book Debtfare States and the Poverty Industry written by Susanne Soederberg and published by Routledge. This book was released on 2014-09-19 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: WINNER of the BISA IPEG Book Prize 2015 http://www.bisa-ipeg.org/ipeg-book-prize-2015-winner-announced/ Under the rubric of ‘financial inclusion’, lending to the poor –in both the global North and global South –has become a highly lucrative and rapidly expanding industry since the 1990s. A key inquiry of this book is what is ‘the financial’ in which the poor are asked to join. Instead of embracing the mainstream position that financial inclusion is a natural, inevitable and mutually beneficial arrangement, Debtfare States and the Poverty Industry suggests that the structural violence inherent to neoliberalism and credit-led accumulation have created and normalized a reality in which the working poor can no longer afford to live without expensive credit. The book further transcends economic treatments of credit and debt by revealing how the poverty industry is extricably linked to the social power of money, the paradoxes in credit-led accumulation, and ‘debtfarism’. The latter refers to rhetorical and regulatory forms of governance that mediate and facilitate the expansion of the poverty industry and the reliance of the poor on credit to augment/replace their wages. Through a historically grounded analysis, the author examines various dimensions of the poverty industry ranging from the credit card, payday loan, and student loan industries in the United States to micro-lending and low-income housing finance industries in Mexico. Providing a much-needed theorization of the politics of debt, Debtfare States and the Poverty Industry has wider implications of the increasing dependence of the poor on consumer credit across the globe, this book will be of very strong interest to students and scholars of Global Political Economy, Finance, Development Studies, Geography, Law, History, and Sociology. The Open Access version of this book, available at http://www.taylorfrancis.com/books/e/9781315761954, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license. https://www.youtube.com/watch?v=2lU6PHjyOzU

The Debt Trap

Author : Josh Mitchell
Publisher : Simon and Schuster
ISBN 13 : 1501199501
Total Pages : 160 pages
Book Rating : 4.5/5 (11 download)

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Book Synopsis The Debt Trap by : Josh Mitchell

Download or read book The Debt Trap written by Josh Mitchell and published by Simon and Schuster. This book was released on 2021-08-03 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: AN NPR AND NEW YORK POST BEST BOOK OF 2021 From acclaimed Wall Street Journal reporter Josh Mitchell, the “devastating account” (The Wall Street Journal) of student debt in America. In 1981, a new executive at Sallie Mae took home the company’s financial documents to review. “You’ve got to be shitting me,” he later told the company’s CEO. “This place is a gold mine.” Over the next four decades, the student loan industry that Sallie Mae and Congress created blew up into a crisis that would submerge a generation of Americans into $1.5 trillion in student debt. In The Debt Trap, Wall Street Journal reporter Josh Mitchell tells the “vivid and compelling” (Chicago Tribune) untold story of the scandals, scams, predatory actors, and government malpractice that have created the behemoth that one of its original architects called a “monster.” As he charts the “jaw-dropping” (Jeffrey Selingo, New York Times bestselling author of Who Gets in and Why) seventy-year history of student debt in America, Mitchell never loses sight of the countless student victims ensnared by an exploitative system that depends on their debt. Mitchell also draws alarming parallels to the housing crisis in the late 2000s, showing the catastrophic consequences student debt has had on families and the nation’s future. Mitchell’s character-driven narrative is “necessary reading” (The New York Times) for anyone wanting to understand the central economic issue of our day.

Two Cheers for Higher Education

Author : Steven Brint
Publisher : Princeton University Press
ISBN 13 : 0691210284
Total Pages : 504 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Two Cheers for Higher Education by : Steven Brint

Download or read book Two Cheers for Higher Education written by Steven Brint and published by Princeton University Press. This book was released on 2020-08-04 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading expert challenges the prevailing gloomy outlook on higher education with solid evidence of its successes Crushing student debt, rapidly eroding state funding, faculty embroiled in speech controversies, a higher-education market disrupted by online competition—today’s headlines suggest that universities’ power to advance knowledge and shape American society is rapidly declining. But Steven Brint, a renowned analyst of academic institutions, has tracked numerous trends demonstrating their vitality. After a recent period that witnessed soaring student enrollment and ample research funding, universities, he argues, are in a better position than ever before. Focusing on the years 1980–2015, Brint details the trajectory of American universities, which was influenced by evolving standards of disciplinary professionalism, market-driven partnerships (especially with scientific and technological innovators outside the academy), and the goal of social inclusion. Conflicts arose: academic entrepreneurs, for example, flouted their campus responsibilities, and departments faced backlash over the hiring of scholars with nontraditional research agendas. Nevertheless, educators’ commitments to technological innovation and social diversity prevailed and created a new dynamism. Brint documents these successes along with the challenges that result from rapid change. Today, knowledge-driven industries generate almost half of U.S. GDP, but divisions by educational level split the American political order. Students flock increasingly to fields connected to the power centers of American life and steer away from the liberal arts. And opportunities for economic mobility are expanding even as academic expectations decline. In describing how universities can meet such challenges head on, especially in improving classroom learning, Brint offers not only a clear-eyed perspective on the current state of American higher education but also a pragmatically optimistic vision for the future.

Debtfare States and the Poverty Industry

Author : Susanne Soederberg
Publisher : Routledge
ISBN 13 : 1317646738
Total Pages : 303 pages
Book Rating : 4.3/5 (176 download)

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Book Synopsis Debtfare States and the Poverty Industry by : Susanne Soederberg

Download or read book Debtfare States and the Poverty Industry written by Susanne Soederberg and published by Routledge. This book was released on 2014-09-19 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: WINNER of the BISA IPEG Book Prize 2015 http://www.bisa-ipeg.org/ipeg-book-prize-2015-winner-announced/ Under the rubric of ‘financial inclusion’, lending to the poor –in both the global North and global South –has become a highly lucrative and rapidly expanding industry since the 1990s. A key inquiry of this book is what is ‘the financial’ in which the poor are asked to join. Instead of embracing the mainstream position that financial inclusion is a natural, inevitable and mutually beneficial arrangement, Debtfare States and the Poverty Industry suggests that the structural violence inherent to neoliberalism and credit-led accumulation have created and normalized a reality in which the working poor can no longer afford to live without expensive credit. The book further transcends economic treatments of credit and debt by revealing how the poverty industry is extricably linked to the social power of money, the paradoxes in credit-led accumulation, and ‘debtfarism’. The latter refers to rhetorical and regulatory forms of governance that mediate and facilitate the expansion of the poverty industry and the reliance of the poor on credit to augment/replace their wages. Through a historically grounded analysis, the author examines various dimensions of the poverty industry ranging from the credit card, payday loan, and student loan industries in the United States to micro-lending and low-income housing finance industries in Mexico. Providing a much-needed theorization of the politics of debt, Debtfare States and the Poverty Industry has wider implications of the increasing dependence of the poor on consumer credit across the globe, this book will be of very strong interest to students and scholars of Global Political Economy, Finance, Development Studies, Geography, Law, History, and Sociology. The Open Access version of this book, available at http://www.taylorfrancis.com/books/e/9781315761954, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license. https://www.youtube.com/watch?v=2lU6PHjyOzU

Privatization of Sallie Mae and Connie Lee

Author : United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Education, Arts, and Humanities
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Privatization of Sallie Mae and Connie Lee by : United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Education, Arts, and Humanities

Download or read book Privatization of Sallie Mae and Connie Lee written by United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Education, Arts, and Humanities and published by . This book was released on 1995 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distributed to some depository libraries in microfiche.

Debt Resisters’ Operations Manual

Author : Strike Debt
Publisher : PM Press
ISBN 13 : 1604868961
Total Pages : 230 pages
Book Rating : 4.6/5 (48 download)

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Book Synopsis Debt Resisters’ Operations Manual by : Strike Debt

Download or read book Debt Resisters’ Operations Manual written by Strike Debt and published by PM Press. This book was released on 2014-05-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last thirty years, as wages have stagnated across the country, average household debt has more than doubled. Increasingly, we are forced to take on debt to meet our needs—from housing, to education, to medical care. The results—wrecked lives, devastated communities, and an increasing reliance on credit to maintain our basic living standards—reveal an economic system that enriches the few at the expense of the many. The Debt Resisters’ Operations Manual is a handbook for debtors everywhere to understand how this system really works, while providing practical tools for fighting debt in its most exploitative forms. Inside, you’ll find detailed strategies, resources, and insider tips for dealing with some of the most common kinds of debt, including credit card debt, medical debt, student debt, and housing debt. The book also contains tactics for navigating the pitfalls of personal bankruptcy, and information to help protect yourself from credit reporting agencies, debt collectors, payday lenders, check cashing outlets, rent-to-own stores, and more. Written and edited by a network of activists, writers, and academics from Occupy Wall Street, additional chapters cover tax debt, sovereign debt, the relationship between debt and climate, and an expanded vision for a movement of mass debt resistance.

The Great Mistake

Author : Christopher Newfield
Publisher : JHU Press
ISBN 13 : 1421421631
Total Pages : 445 pages
Book Rating : 4.4/5 (214 download)

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Book Synopsis The Great Mistake by : Christopher Newfield

Download or read book The Great Mistake written by Christopher Newfield and published by JHU Press. This book was released on 2016-11-15 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: A remarkable indictment of how misguided business policies have undermined the American higher education system. Winner of the CHOICE Outstanding Academic Title of the Choice ACRL Higher education in America, still thought to be the world leader, is in crisis. University students are falling behind their international peers in attainment, while suffering from unprecedented student debt. For over a decade, the realm of American higher education has been wracked with self-doubt and mutual recrimination, with no clear solutions on the horizon. How did this happen? In this stunning new book, Christopher Newfield offers readers an in-depth analysis of the “great mistake” that led to the cycle of decline and dissolution, a mistake that impacts every public college and university in America. What might occur, he asserts, is no less than locked-in economic inequality and the fall of the middle class. In The Great Mistake, Newfield asks how we can fix higher education, given the damage done by private-sector models. The current accepted wisdom—that to succeed, universities should be more like businesses—is dead wrong. Newfield combines firsthand experience with expert analysis to show that private funding and private-sector methods cannot replace public funding or improve efficiency, arguing that business-minded practices have increased costs and gravely damaged the university’s value to society. It is imperative that universities move beyond the destructive policies that have led them to destabilize their finances, raise tuition, overbuild facilities, create a national student debt crisis, and lower educational quality. Laying out an interconnected cycle of mistakes, from subsidizing the private sector to “the poor get poorer” funding policies, Newfield clearly demonstrates how decisions made in government, in the corporate world, and at colleges themselves contribute to the dismantling of once-great public higher education. A powerful, hopeful critique of the unnecessary death spiral of higher education, The Great Mistake is essential reading for those who wonder why students have been paying more to get less and for everyone who cares about the role the higher education system plays in improving the lives of average Americans.

Privatization of Fannie Mae and Freddie Mac

Author : Harold L. Bunce
Publisher : DIANE Publishing
ISBN 13 : 9780788137549
Total Pages : 234 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Privatization of Fannie Mae and Freddie Mac by : Harold L. Bunce

Download or read book Privatization of Fannie Mae and Freddie Mac written by Harold L. Bunce and published by DIANE Publishing. This book was released on 1997 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report demonstrates that a significant proportion of prospective homeowners remains underserved by the mortgage finance industry. The report reviews and evaluates the framework of housing goals that has been established by Fannie Mae and Freddie Mac. It finds that the housing goals represent a promising approach to focusing their resources on the mortgage credit needs of homebuyers. Such a programmatic emphasis by these enterprises represents an appropriate exchange for the benefits that they receive through their ties with the Federal government.

The University under Pressure

Author : Elizabeth Popp Berman
Publisher : Emerald Group Publishing
ISBN 13 : 1785608304
Total Pages : 526 pages
Book Rating : 4.7/5 (856 download)

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Book Synopsis The University under Pressure by : Elizabeth Popp Berman

Download or read book The University under Pressure written by Elizabeth Popp Berman and published by Emerald Group Publishing. This book was released on 2016-02-26 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Universities are under pressure. Their resource environment is evolving, demands for accountability have increased and demographic shifts are changing higher educational needs. This volume provides a cross-national picture of how the university as an organization is reacting to, adapting to, and threatened by a period of intense pressure.

Student Debt

Author : William Elliott III
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1440844887
Total Pages : 324 pages
Book Rating : 4.4/5 (48 download)

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Book Synopsis Student Debt by : William Elliott III

Download or read book Student Debt written by William Elliott III and published by Bloomsbury Publishing USA. This book was released on 2017-01-26 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering answers to essential questions about student debt and many connected issues, this book examines student debt in the United States at every stage of the process—from the banks that issue the loans to the colleges and universities that collect the payments. Student lending in the United States is one of the most controversial issues in contemporary American discourse. Are these loans the only option for Americans who want to attend college and university in order to attain the best careers and have a productive, enjoyable life? Should the predatory lending practices of for-profit colleges and universities be stopped? How can limits be imposed on student lending amounts without preventing students from getting the education they need to succeed? The book explains why so many students are borrowing large amounts of money to attend college; considers whether the cost of higher education is simply too high, and if there should be a cap on how much money students can borrow; explains what is contributing to the rising rate of borrowers defaulting on their loans; and predicts whether the so-called student loan bubble is in danger of popping. The Data and Documents chapter analyzes data gathered from discussions about student debt. This information enables readers to better understand who is borrowing student loans, what the money from the student loans is going toward, what individuals have the authority to decide who qualifies for these loans, and what is being done to curb wasteful student spending.

The Student Loan Mess

Author : Joel Best
Publisher : Univ of California Press
ISBN 13 : 0520287525
Total Pages : 246 pages
Book Rating : 4.5/5 (22 download)

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Book Synopsis The Student Loan Mess by : Joel Best

Download or read book The Student Loan Mess written by Joel Best and published by Univ of California Press. This book was released on 2014-05-02 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Student loan debt in the U.S. now exceeds $1 trillion, more than the nation's credit-card debt. This timely book explains how and why student loans evolved, the concerns they've raised along the way, and how each policy designed to fix student loans winds up making things worse. The authors, a father and son team, provide an intergenerational, interdisciplinary approach to understanding how, over the last 70 years, Americans incrementally, with the best intentions, created our current student loan disaster. They examine the competing interests and shifting societal expectations that contributed to the problem, and offer recommendations for confronting the larger problem of college costs and student borrowing in the future"--

Indebted

Author : Caitlin Zaloom
Publisher : Princeton University Press
ISBN 13 : 069121722X
Total Pages : 286 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Indebted by : Caitlin Zaloom

Download or read book Indebted written by Caitlin Zaloom and published by Princeton University Press. This book was released on 2021-05-04 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'Indebted' takes readers into the homes of middle-class families throughout the nation to reveal the hidden consequences of student debt and the ways that financing college has transformed family life"--Amazon

The Vanishing Middle Class, new epilogue

Author : Peter Temin
Publisher : MIT Press
ISBN 13 : 0262535297
Total Pages : 288 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis The Vanishing Middle Class, new epilogue by : Peter Temin

Download or read book The Vanishing Middle Class, new epilogue written by Peter Temin and published by MIT Press. This book was released on 2018-03-09 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the United States has developed an economy divided between rich and poor and how racism helped bring this about. The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor. Many poorer Americans live in conditions resembling those of a developing country—substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other—black, Latino, not like "us." Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail.