Sunk Cost

In Sunk Cost, journalist Jillian Berman investigates the evolution of the U.S. student loan system, examining how it shifted from a supportive, community-oriented initiative to a source of long-term debt for millions of Americans. Through interviews and archival research, she explores the factors behind this transformation, its impact on students, and the broader economic and industry forces at play. The book provides a comprehensive look at the complex history and current challenges of college financing in the United States.