The Origins of the Student Loan Industry in the United States: Richard Cornuelle, United Student Aid Funds, and the Creation of the Guaranteed Student Loan Program.

The article discusses the origins of the U.S. student loan industry, with particular attention given to Richard Cornuelle, his establishment of the United Student Aid Funds (USAF) in 1960, and the creation of the Guaranteed Student Loan Program (GSLP). The William Volker Fund, where Cornuelle was employed, the growing influence of neoliberalism and activism during the administration of Lyndon B. Johnson, and USAF's partnership with the American Bankers Association (ABA) and the Johnson administration are also mentioned.