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The William G. Bowen Series
Game of Loans: The Rhetoric and Reality of Student Debt
Why fears about a looming student loan crisis are unfounded―and how they obscure what's really wrong with student lending
College tuition and student debt levels have been rising at an alarming pace for at least two decades. These trends, coupled with an economy weakened by a major recession, have raised serious questions about whether we are headed for a major crisis, with borrowers defaulting on their loans in unprecedented numbers and taxpayers being forced to foot the bill. Game of Loans draws on new evidence to explain why such fears are misplaced―and how the popular myth of a looming crisis has obscured the real problems facing student lending in America.
Bringing needed clarity to an issue that concerns all of us, Beth Akers and Matthew Chingos cut through the sensationalism and misleading rhetoric to make the compelling case that college remains a good investment for most students. They show how, in fact, typical borrowers face affordable debt burdens, and argue that the truly serious cases of financial hardship portrayed in the media are less common than the popular narrative would have us believe. But there are more troubling problems with student loans that don't receive the same attention. They include high rates of avoidable defaults by students who take on loans but don’t finish college―the riskiest segment of borrowers―and a dysfunctional market where competition among colleges drives tuition costs up instead of down.
Persuasive and compelling, Game of Loans moves beyond the emotionally charged and politicized talk surrounding student debt, and offers a set of sensible policy proposals that can solve the real problems in student lending.
College tuition and student debt levels have been rising at an alarming pace for at least two decades. These trends, coupled with an economy weakened by a major recession, have raised serious questions about whether we are headed for a major crisis, with borrowers defaulting on their loans in unprecedented numbers and taxpayers being forced to foot the bill. Game of Loans draws on new evidence to explain why such fears are misplaced―and how the popular myth of a looming crisis has obscured the real problems facing student lending in America.
Bringing needed clarity to an issue that concerns all of us, Beth Akers and Matthew Chingos cut through the sensationalism and misleading rhetoric to make the compelling case that college remains a good investment for most students. They show how, in fact, typical borrowers face affordable debt burdens, and argue that the truly serious cases of financial hardship portrayed in the media are less common than the popular narrative would have us believe. But there are more troubling problems with student loans that don't receive the same attention. They include high rates of avoidable defaults by students who take on loans but don’t finish college―the riskiest segment of borrowers―and a dysfunctional market where competition among colleges drives tuition costs up instead of down.
Persuasive and compelling, Game of Loans moves beyond the emotionally charged and politicized talk surrounding student debt, and offers a set of sensible policy proposals that can solve the real problems in student lending.
192 pages, Hardcover
Published October 4, 2016
11 people are currently reading
135 people want to read
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Displaying 1 - 7 of 7 reviews
February 6, 2020
This is a thoughtful dive into understanding student lending and repayment trends. I appreciate the lucid, data-driven approach to addressing a polarizing topic. I have since read some interesting rebuttals to some of the points around payment-to-income ratios that were compelling, so I would urge reading this prepared to dig a little deeper for counter arguments. But I really like the way this book summarized and communicated a more elevated and insightful analysis of the topic.
January 22, 2017
So, this book made me feel really comfortable with my decisions to take out my student loans. I have a lot of student loan debt, am on an IDR plan, and am in the PSLF program. I am not so sure I recommend the PSLF program (see this thread of seven posts, which you can navigate to from the page), but I do recommend taking out loans if you need to. And this book backs me up. There is a lot of fear surrounding them. I say that no, it’s not as complicated as you think. And you have to be really, really stupid or uniformed to screw it up.
Read the rest of my review here: https://blackandwhitepandaduh.wordpre...
Read the rest of my review here: https://blackandwhitepandaduh.wordpre...
November 18, 2020
Un excelente libro para entender a profundidad la “burbuja” de los créditos estudiantiles en EEUU
Recomiendo 100% a futuros estudiantes americanos y latinoamericanos en leer este libro. La tendencia de los préstamos a estudiantes es un fenómeno que se tiene que conocer a nivel macroeconómico. Es una realidad que México y muchos países latinoamericanos no viven este problema, debido a muchos factores que no se encuentran en el ecosistema laborar americano, pero no obstante es algo que forzosamente debemos conocer por el impacto que tiene sobre la economía mundial.
Muy buena manera de la autora de explicar tremenda problemática en estas hojas. Desde la historia, casos generales, problemáticas políticas y soluciones.
Recomiendo 100% a futuros estudiantes americanos y latinoamericanos en leer este libro. La tendencia de los préstamos a estudiantes es un fenómeno que se tiene que conocer a nivel macroeconómico. Es una realidad que México y muchos países latinoamericanos no viven este problema, debido a muchos factores que no se encuentran en el ecosistema laborar americano, pero no obstante es algo que forzosamente debemos conocer por el impacto que tiene sobre la economía mundial.
Muy buena manera de la autora de explicar tremenda problemática en estas hojas. Desde la historia, casos generales, problemáticas políticas y soluciones.
February 10, 2019
As someone with significant student loan debt (or a "statistically marginal outlier"), I found this book both boring and insulting. Expect several chapters of dry statistics, a wrap up of completely out-there policy proposals, and a complete lack of humanity.
September 26, 2019
An excellent and straightforward book about the US student loan situation. Beth Akers avoids hyperbolic claims and sticks with the facts to point to key issues but undermining the overall “crisis” theme that dominates the media.
December 26, 2022
Well written. Would have liked information to be more recent and a little bit more substance and depth in terms of policy exploration; however, I learned a lot from it and would recommend.
November 8, 2016
College tuition fees and high levels of student debt in the United States is a growing concern for many and even news of this has spread around the world. It is by no means a problem exclusive to the U.S., yet it does seem to set a gold standard for fees and debt, in part due to its size but maybe also due to structural and other issues.
So this was a fascinating, informative and timely book that looks at the entire problem of tuition fees and student debt levels from a U.S. perspective, without becoming politically partisan or shouty in the process.
Concerns exist about a future student debt crisis and mass default, yet the authors believe that this is unfounded, admitting at the same time that other problems do exist such as a “dysfunctional market” where competition among colleges drives tuition costs up instead of down and how students load up with debt but don’t complete their studies for various reasons.
A number of policy proposals are given that the authors believe could solve the issues around student lending. Some of the reforms might not be earth-shattering but require a change in current-day thinking and a slightly more hands-on, proactive approach that might chide against perceived all-American freedoms and rights.
There is a lot of detail, at times it can feel a little too overwhelming, as well as a mass of references and further reading suggestions. Nonetheless it was a great diversion for a curious generalist with one foot in the (non U.S.) educational camp. For someone who has more skin in the game it could be necessary reading. It is a lot more than just a narrowly focussed education/politics-type book; it covers economics, the media, society and much more!
Autamme.com
So this was a fascinating, informative and timely book that looks at the entire problem of tuition fees and student debt levels from a U.S. perspective, without becoming politically partisan or shouty in the process.
Concerns exist about a future student debt crisis and mass default, yet the authors believe that this is unfounded, admitting at the same time that other problems do exist such as a “dysfunctional market” where competition among colleges drives tuition costs up instead of down and how students load up with debt but don’t complete their studies for various reasons.
A number of policy proposals are given that the authors believe could solve the issues around student lending. Some of the reforms might not be earth-shattering but require a change in current-day thinking and a slightly more hands-on, proactive approach that might chide against perceived all-American freedoms and rights.
There is a lot of detail, at times it can feel a little too overwhelming, as well as a mass of references and further reading suggestions. Nonetheless it was a great diversion for a curious generalist with one foot in the (non U.S.) educational camp. For someone who has more skin in the game it could be necessary reading. It is a lot more than just a narrowly focussed education/politics-type book; it covers economics, the media, society and much more!
Autamme.com
Displaying 1 - 7 of 7 reviews