Public higher education’s future is being held hostage by financial institutions and actors. How did it get this way? Lend and Rule reveals the “shadow governance” of debt and credit in the United States higher education system. With sharp and hard-hitting insight, the Coalition Against Campus Debt exposes how institutional debt is a primary driver of university austerity, miseducation, and the deepening of societal inequality. Addressing how our lives are entangled in a debt economy, they develop the analysis necessary to transform higher education in today’s neoliberal racial capitalist political economy. Part theoretical analysis, part toolbox for organizers in higher education, Lend and Rule is an invaluable resource for anyone engaged in debt abolition struggles or looking to acquire a critical and transformative vision of higher education today.