Betsy Devos Sued

[DaShuckster]

I'm no fan of student loan forgiveness, but for the life of me, I cannot understand why in the hell the Trump Administration is rolling back protections against for-profit charlatan schools.

https://www.mercurynews.com/2019/10/25/betsy-devos-in-contempt-over-student-loan-collection/

 

[firm_bizzle]

Ugh maybe because they profit from for-profit charlatan schools? #TrumpU

 

[Crazyhole]

Ugh maybe because they profit from for-profit charlatan schools? #TrumpU

Remember that time when Obama said he was going to put the shackles on For Profit colleges and the University of Pheonix stock went in the tank? Then one of Obama's buddies bought a majority stake in it. Then Obama came back and said "nevermind, For Profit colleges are ok".

 

[UCFWayne]

the gov really needs to try and pull back out of student loan business.

 

[firm_bizzle]

Remember that time when Obama said he was going to put the shackles on For Profit colleges and the University of Pheonix stock went in the tank? Then one of Obama's buddies bought a majority stake in it. Then Obama came back and said "nevermind, For Profit colleges are ok".

I'm sure that Pepperidge Farms remembers.

 

[firm_bizzle]

the gov really needs to try and pull back out of student loan business.

Read this interesting article yesterday. Traditional college is on its way out, once Google, Amazon, FB, Apple figure out how to offer 4 year degrees online for a couple of thousand dollars.

https://www.forbes.com/sites/stephenmcbride1/2019/10/22/the-end-of-college-is-coming/#44571bf4410f

 

[DaShuckster]

the gov really needs to try and pull back out of student loan business.

Just the opposite. The Federal student loan program is an example of a well-run, cost-effective enterprise that supports college students.

There is absolutely no reason why we needed to increase the overall costs by including a private student loan option other than politics. We needed to make sure the big boy bankers got their cut of the action.

 

[firm_bizzle]

Just the opposite. The Federal student loan program is an example of a well-run, cost-effective enterprise that supports college students.

There is absolutely no reason why we needed to increase the overall costs by including a private student loan option other than politics. We needed to make sure the big boy bankers got their cut of the action.

I disagree. This is the same situation that caused the housing bubble. Easy to get loans cause prices to increase quickly. Unfortunately, you can't claim bankruptcy with student loans like you can if you become over-extended with a house.
The answer is to let people discharge all student loans (gov't & private) in bankruptcy. Then there is a price to pay for getting rid of student loans rather than a free for all. Student loan lenders will become more picky about who they loan too (credit check, co-signer), schools will be forced to lower their fees due to increased competition for dollars. The free market at work.