The Debt Trap by Josh Mitchell

THE DEBT TRAP by Josh Mitchell provides significant historical perspective on “How Student Loans Became a National Catastrophe.” Concerns about debt levels are certainly in the news: Mitchell, an award-winning reporter for The Wall Street Journal, co-authored a front page story this week about law school debt and wrote another recent article about the former chief executive of Sallie Mae. In his new book, Mitchell traces the government’s involvement in student loans from the G.I. Bill to more recent times. He points out that “average tuition and room and board at four-year private colleges has risen nearly 800 percent since 1980, more than five times the rate of inflation.” Acknowledging that well-intentioned actions often have consequences, Mitchell advocates for reforms like forgiving interest on student loans, making four-year colleges put up their own money, and making community college truly free. Since this is more policy-based than guidance for individuals, the text seems a bit complex for our students, although those researching the topic will benefit from Mitchell’s notes and bibliography.