Jump to ContentJump to Main Navigation
Banking on a RevolutionWhy Financial Technology Won't Save a Broken System$
Users without a subscription are not able to see the full content.

Terri Friedline

Print publication date: 2021

Print ISBN-13: 9780190944131

Published to Oxford Scholarship Online: December 2020

DOI: 10.1093/oso/9780190944131.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 October 2021

Financialization and the Tyranny of Bootstraps

Financialization and the Tyranny of Bootstraps

(p.37) 2 Financialization and the Tyranny of Bootstraps
Banking on a Revolution

Terri Friedline

Oxford University Press

This chapter explores recent trends in student loan debt, particularly the for-profit educational corporation Corinthian Colleges’ scandal, in order to define the key terms financialization and neoliberalism. Finance is playing an expanded role in higher education and securitization is being employed to capitalize off of students’ loan debt. Students are increasingly taking on debt and bearing responsibility for a capitalist economy that is stacked against them. Banks and lenders bundle and sell this debt to wealthy, white investors as securities. Given that Black and Brown borrowers take out more student loans, repay their debts plus interest over longer periods of time, and experience higher default rates compared to their white counterparts, these securities are racialized just like the individual lines of debt from which they were created.

Keywords:   financialization, neoliberalism, student loan debt, Corinthian 100, debt strike, for-profit colleges, student loan asset backed securities, SLAB

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .