$23,000

AMY SAYS...

I receive an email every week from this guy who just got a book deal worth $23,000 if he sells 10,000 copies. Here is the summary of his book...

The Student Loan Scam: The Most Oppressive Debt in U.S. History—and How We Can Fight Back Alan Michael Collinge. Beacon, $22.95. Think credit-card debt is a problem? Take a look at the lives ruined through the corporate thug tactics, usurious fees and vicious harassment employed by some of the nation's largest student-loan providers in this shocking exposé from Collinge, founder of StudentLoanJustice.org. The author had a manageable $38,000 in loans—until he missed a single payment. Fees and charges quickly piled up, and his debt mushroomed to more than $100,000. The author reveals that since lenders make far more money from defaulted loans than they do from borrowers in good standing, they go to extraordinary—and illegal—lengths to force borrowers into default. There are currently more than five million defaulted loans on record, and incredibly, student loans are the only type of loan in U.S. history to be nondischargable in bankruptcy. The author exposes the engineers (and profiteers) of this predatory system and urges Congress to restore standard consumer protections to student loans, concluding with a call to arms for progressive changes, refinancing rights and a plethora of practical advice for borrowers. Comprehensive and stirring, this extraordinary book is whistle-blowing at its finest. (Feb.)

Here is his mass email...

Hey Guys,

This is the link to the Publisher's Weekly thing about the book. Please comment on this article, this will encourage book people to put it on their shelves.

Im definitely not doing this for the money. I am pretty sensitive to that attack. My publisher has told me that if the book sells 10,000 copies, that would be considered a smashing success. Based on this "best case" scenario, I would personally earn about $23,000 for the effort.

Just so you all know...

Having said that, some very important policy makers may well read this book, if we work hard to get it our there. So I hope that you will keep it in mind.

Best Regards,
Alan M. Collinge
StudentLoanJustice.org
http://www.publishersweekly.com/article/CA6601544.html