Book Review: “The Student Debt Crisis: America’s Moral Urgency”
“Education is supposed to open doors, not slam them shut. We need to find a better way.”
In “The Student Debt Crisis: America’s Moral Urgency,” Jamal Watson describes his goal as providing a broader understanding of the current student debt situation and inspiring meaningful change. However, the book isn’t a road map through the crisis that provides a clear path to the exit. Instead, Watson has created a topographic map, layering core components so the reader can appreciate the full scope of the issue. It’s not simply a retelling of how we got to this point or a set of suggestions for fixing it, but also an examination of which ideas have worked and which have not.
Reviewed by Marya Ashby, financial aid counselor, The University of the South.
Watson, executive editor of Diverse: Issues in Higher Education and an associate dean and professor of communications at Trinity Washington University, is well equipped to provide this scope. He uses data, historical information, and recent reporting to illustrate several factors that have led to the modern debt landscape. Some of these topics are familiar to those of us in financial aid, such as the repercussions of decreased federal and state funding, or how the true cost of higher education is much more than just tuition. Some ideas may be less familiar, such as lingering disparities for students of color and women, due to historical inequalities.
But Watson doesn’t stop there. He shows that some attempts to fix these issues have in fact made things worse. Higher education is attainable for more students thanks to the increased availability of loans. But more students are saddled with inescapable debt because loans are frequently extended without adequate consideration of borrowers’ future ability to repay or their financial education. Federal Pell Grants are intended to support the neediest students. Watson also points to evidence that some wealthier schools enroll fewer Pell recipients so they can direct institutional aid toward recruiting applicants they deem more desirable. We can never hope to rectify this overwhelming debt problem without taking into account problems caused by our “solutions.”
Conversely, we can’t ignore our victories, either. For example, Watson details the histories and efforts of organizations such as the Thurgood Marshall College Fund, the United Negro College Fund, and the National Association for Equal Opportunity in Higher Education, which provide their students with support networks and mentors in addition to scholarships. These community-oriented groups focus on setting their students up for success during and after college life, tackling the problem holistically. Their accomplishments may show a better way forward, with fewer pitfalls than when we simply provide temporary money to only some individuals.
One of the great strengths of “The Student Debt Crisis” is Watson’s dedication to demonstrating why we should continue to develop holistic solutions that work for everyone. The opening quote to this review is from a 44-year-old man named Pete Benson who defaulted on his student loans during a prolonged period of unemployment. His resulting poor credit meant he was unable to purchase a car or find decent housing. He ultimately ended up underemployed, becoming one of the many borrowers whose student loan debt led to long-term financial hardship. Watson weaves personal stories like Benson’s among factual reports to underscore why he calls it a moral crisis. Student debt may be made up of numbers, but its consequences are felt in the lives of real people.
If there’s a weakness in Watson’s book, it lies in the final component of his topographic map: answers. The last chapter, entitled “Solutions for the Future,” is the shortest at a mere four pages. As a result, the book ends up with an imbalance, with several examples of historical actions and consequences, but less attention given to what the future might look like. While this approach reinforces the idea that we need to think carefully about the solutions we propose, it also leads to a rather underwhelming conclusion.
On its surface, the broad scope of “The Student Debt Crisis” might seem helpful only for those who want to get into the weeds of student lending history, either for edification or inspiration. But there is solace to be found in an entire history of attempts to improve higher education, especially for financial aid professionals who may feel overwhelmed by the current state of our field. The book offers a depth we can take strength from and build upon. Even if proposed solutions are imperfect or the range of potential solutions is smaller than we’d like, we’ve never given up on trying to make things better. We have a moral obligation to continue that work.
"The Student Debt Crisis: America’s Moral Urgency” by Jamal Watson, Broadleaf Books, Minnesota, September 16, 2025, pp. 320.
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Marya Ashby is a financial aid counselor at University of the South located in Sewanee, Tenn. She has been with the university for more than 13 years but joined the financial aid office only within the past year. Though new to the financial aid world, Marya is excited to continue serving the student population in a new capacity. She earned a B.A. from Vanderbilt University, a B.S. from the University of the South, and has recently enrolled in NASFAA U with the goal of earning her first professional credential.
Publication Date: 1/26/2026
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