The untold history of how AmericaÕs student-loan program turned the pursuit of higher education into a pathway to poverty. It didnÕt always take thirty years to pay off the cost of a bachelorÕs degree. Elizabeth Tandy Shermer untangles the history that brought us here and discovers that the story of skyrocketing college debt is not merely one of good intentions gone wrong. In fact, the federal student loan program was never supposed to make college affordable. The earliest federal proposals for college affordability sought to replace tuition with taxpayer funding of institutions. But Southern whites feared that lower costs would undermine segregation, Catholic colleges objected to state support of secular institutions, professors worried that federal dollars would come with regulations hindering academic freedom, and elite-university presidents recoiled at the idea of mass higher education. Cold War congressional fights eventually made access more important than affordability. Rather than freeing colleges from their dependence on tuition, the government created a loan instrument that made college accessible in the short term but even costlier in the long term by charging an interest penalty only to needy students. In the mid-1960s, as bankers wavered over the prospect of uncollected debt, Congress backstopped the loans, provoking runaway inflation in college tuition and resulting in immense lender profits. Today 45 million Americans owe more than $1.5 trillion in college debt, with the burdens falling disproportionately on borrowers of color, particularly women. Reformers, meanwhile, have been frustrated by colleges and lenders too rich and powerful to contain. Indentured Students makes clear that these are not unforeseen consequences. The federal student loan system is working as designed.

The untold history of how America’s student-loan program turned the pursuit of higher education into a pathway to poverty. It didn’t always take thirty years to pay off the cost of a bachelor’s degree. Elizabeth Tandy Shermer untangles the history that brought us here and discovers that the story of skyrocketing college debt is not merely one of good intentions gone wrong. In fact, the federal student loan program was never supposed to make college affordable. The earliest federal proposals for college affordability sought to replace tuition with taxpayer funding of institutions. But Southern whites feared that lower costs would undermine segregation, Catholic colleges objected to state support of secular institutions, professors worried that federal dollars would come with regulations hindering academic freedom, and elite-university presidents recoiled at the idea of mass higher education. Cold War congressional fights eventually made access more important than affordability. Rather than freeing colleges from their dependence on tuition, the government created a loan instrument that made college accessible in the short term but even costlier in the long term by charging an interest penalty only to needy students. In the mid-1960s, as bankers wavered over the prospect of uncollected debt, Congress backstopped the loans, provoking runaway inflation in college tuition and resulting in immense lender profits. Today 45 million Americans owe more than $1.5 trillion in college debt, with the burdens falling disproportionately on borrowers of color, particularly women. Reformers, meanwhile, have been frustrated by colleges and lenders too rich and powerful to contain. Indentured Students makes clear that these are not unforeseen consequences. The federal student loan system is working as designed.

A rare memoir from the early eighteenth century by an Englishman who traveled to the New World as an indentured servant.

Hundreds of thousands of British and Irish men, women, and children crossed the Atlantic during the seventeenth century as indentured servants. Many had agreed to serve for four years, but large numbers had been trafficked or “spirited away” or were sent forcibly by government agencies as criminals, political rebels, or destitute vagrants. In Indentured Servitude Anna Suranyi provides new insight into the lives of these people. The British government, Suranyi argues, profited by supplying labour for the colonies, removing unwanted populations, and reducing incarceration costs within Britain. In addition, it was believed that indigents, especially destitute children, benefited morally from being placed in indenture. Capitalist entrepreneurs who were influential at the highest levels of government made their fortunes from Atlantic trade in goods, indentured servants, and slaves, and their participation in the servant trade contributed to the commercialization of criminal justice. Suranyi breaks new ground in showing how indentured servitude was challenged: once in the colonies, indentured servants adapted resourcefully to their circumstances and rebelled against unfair conditions and abuse by suing their masters, by running away, or through outright revolt. Emerging ideas about race and citizenship led to vehement public debate about the conditions of indentured servants and the ethics of indenture itself, prompting legislation that aimed to curb the worst excesses while slavery continued to expand unchecked.

Examines the origin, working conditions, and eventual fate of indentured servants in America in the seventeenth and eighteenth centuries.

Relates how Benjamin Banneker's grandmother journeyed from England to Maryland in the late seventeenth century, worked as an indentured servant, began a farm of her own, and married a freed slave.

An exciting novel for tweens that captures the dawn of the American Revolution. Life is tough for thirteen-year-old Nathaniel Dunn, an indentured servant in colonial Virginia. Then in a twist of luck, he meets Basil, a kind schoolmaster, and an arrangement is struck lending Nathaniel's labor to a Williamsburg carriage maker. Basil introduces Nathaniel to music, books, and philosophies that open his mind to new attitudes about equality. The year is 1775, and as colonists voice their rage over England's taxation, Patrick Henry's words "give me liberty, or give me death" become the sounding call for action. Should Nathaniel and Basil join the fight? What is the meaning of "liberty" in a country reliant on indentured servants and slaves? Nathaniel must face the puzzling choices a dawning nation lays before him. “Filled with action, well-drawn characters, and a sympathetic understanding of many points of view.” —ALA Booklist