Crushed : How Student Debt Has Impaired a Generation and What to Do about It

Crushed is a timely and insightful work that sheds light on the state of American universities and their graduates. It takes readers on a fascinating and reflective journey into the current student debt crisis and how it has become a major burden to American society. Beyond just describing how we got into this huge mess, Crushed also offers actionable public-policy steps to help fix this ever-growing problem.

This reader-friendly guide explores the U.S. university system in depth, the incentive structures driving university decisions, and what has led to both rapid tuition inflation and skyrocketing student debt. It also explores why the U.S. university system is no longer reducing the racial wealth gap and how it is now contributing to intergenerational poverty. Crushed explains what every parent or prospective student should know before, during, or after enrolling in college, including what choices they should make to graduate on time, with a valuable degree, and with little (or no) debt. Additionally, it concludes with a detailed policy discussion and provides simple, yet powerful, ways to mitigate and eventually eliminate runaway tuition inflation and the overwhelming stock of student debt.

Key Features:

--Reviews the growth and development of the American university system, including its objectives, successes, and failures
--Explains university endowments, why these pools of capital are so large, and how they can be used more efficiently to ensure students graduate on time with valuable degrees
--Details the growth of college tuition, explains how tuition and other sources of income are used, and describes the perverse incentives that have led to unchecked tuition inflation
--Provides an in-depth analysis on the value of a college degree and describes how that value has changed over time
--Explains how the student loan industry grew to its current size and provides an explanation for how and why consumer protections were reduced
--Describes how the current tertiary educational system harms minority students and contributes to the interracial wealth gap
--Details legislative solutions to reducing debt, aligning incentives, restoring bankruptcy protections, and reducing the cost of a college education without reducing its value

David E. Linton is an author, economist, and former Adjunct Professor at the University of Southern California’s Marshall School of Business, where he taught Investment Analysis and Portfolio Management. His first book, Foundations of Investment Management, has become a mainstay among aspiring professionals who want to bridge the gap between an academic understanding and the practical application of investment management strategies.