Summary of How College Loans Exploit Students for Profit

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Accounting professor Sajay Samuel teaches a candid lesson that college students won’t learn in the classroom: The structure of the US education and student loan systems is unfairly skewed. In this well-developed, informative presentation, Samuel offers a simple solution that could revamp the delivery of higher education. getAbstract recommends his fresh report to university administrators, students and their parents, and institutional lenders.

In this summary, you will learn

  • How student loans have diminished educational equitability during the past century,
  • What three truths regarding college tuition costs every loan applicant should know and
  • How income-based tuition could improve the student loan system.

About the Speaker

Sajay Samuel is a professor of accounting at the Smeal College of Business at Penn State University.



Some 40 million Americans owe more than $1 trillion in student loans, yet 25% can’t afford their repayments. College tuition has become less affordable, forcing more students to borrow greater sums. Traditionally, university graduates commanded higher wages, justifying the steep costs of their student loans. Alas, graduates earned 10% more in 2001 than they did in 2013. Before borrowing to pay for tuition, consider three modern truths:

  1. “Education is a consumer product” – Tuition has become commoditized. Students are merely “consumers,” lecturers are “service providers” and knowledge is...

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