In the wake of the tumultuous 1970s, marked by scandal, economic troubles, and societal upheaval, the 1980s saw a seismic shift towards conservatism under President Reagan. Deregulation and tax cuts fueled a period of economic growth, resulting in the rise of corporate power and wealth, and the impact of globalization. As the Cold War came to a close and cultural changes such as the emergence of MTV and the AIDS epidemic took hold, America seemed to be on a path to prosperity. But hidden beneath the veneer of progress was the twisted tale of Uncle Sam's Federal Student Loan Program, a seemingly noble venture that would ultimately become a beast of burden, ensnaring countless innocent borrowers in insurmountable debt. Sallie Mae and other big banks have since profited from this ill-gotten gain, while the feds have turned a blind eye to the carnage they have caused.

Explore Further:

• How the Threat of an ‘Educated Proletariat’ Created the Student Debt Crisis - Genevieve Carlton, Ph.D., BestColleges.com, 09/18/2022