The Student Loan Trap

Rodney Spangler first enrolled at the University of North Texas in 2001. There, he pursued a degree in what the school now calls “integrative studies,” focusing on history, philosophy, and criminal justice. Rodney also worked full time, and so attended UNT on and off until 2007.

For every semester of classes, Spangler took out student loans. When he left—without a degree—he estimates that he had about $30,000 in outstanding student debt.

“At first I always intended to repay them, but the first time I took a semester off, I started...