Wall Street and the Student Debt Machine

How student loan securitization turned education debt into a financial product

The Machine

The student loan securitization market transformed student loans into asset-backed securities sold to investors, aligning investor interests with debt persistence rather than debt resolution. The securitization is the profit model.

The Scale

The 1.7 trillion dollar student loan debt is the second-largest category of consumer debt in the United States. The federal student loan portfolio is now held by the Department of Education following the 2010 nationalization. The remaining private student loan market of approximately 130 billion dollars remains securitized and investor-held.

The Analysis

The Mamdani Post covers student debt because the debt is the mechanism through which the cost of the education that capital requires is financed by the workers who need the education, at interest rates that transfer wealth from workers to investors.

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