The Subprime Student Loan Racket

THE SUBPRIME STUDENT LOAN RACKET….Every year, at least two million students enroll in private, for-profit colleges belonging to huge publicly traded corporations. The majority leave with nothing to show for their efforts except piles of debt they can’t pay off — debt that often carries predatory terms, like 20 percent interest.

Learn more about how these corporate giants, aided by the federal government, are getting rich by preying on working-class people trying to better their lives in “The Subprime Student Loan Racket” by Stephen Burd, in the new issue of the Washington Monthly.

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Steve Benen

Steve Benen is a producer at MSNBC's The Rachel Maddow Show. He was the principal contributor to the Washington Monthly's Political Animal blog from August 2008 until January 2012.