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Started By
Message
re: Barack Obama cracks down on for-profit colleges: Why do it this way?
Posted on 3/14/14 at 9:49 am to a want
Posted on 3/14/14 at 9:49 am to a want
quote:
the government should limit where federal funds (both grants and especially loans) may be spent. These for-profit colleges often make their money by convincing soldiers who have a GI bill
if the GI Bill $ is the bulk of the problem as you suggest, what's to be done? it's not a grant or a loan, it's a benefit of service that they're supposed to be able to choose how to use
0
Posted on 3/14/14 at 9:50 am to Radiojones
quote:
Welcome back my old friend, you have been missed.
Thanks!
I feel like a crack addict who just took his first hit after being sober for 5 months.
It awakens fond memories, but at the same time I know I should leave while I still can.
Posted on 3/14/14 at 9:51 am to a want
quote:You can checkout any time you'd like, but you can never leave.
It awakens fond memories, but at the same time I know I should leave while I still can.
Posted on 3/14/14 at 9:53 am to a want
quote:
I feel like a crack addict who just took his first hit after being sober for 5 months.
It awakens fond memories, but at the same time I know I should leave while I still can.
nah, i'm glad to see you posting again also
Posted on 3/14/14 at 9:53 am to Scruffy
quote:Welcome to the Hotel California.
You can checkout any time you'd like, but you can never leave
Posted on 3/14/14 at 10:06 am to a want
The issue is student loans & how these schools ruin their students' lives.
get rid of guaranteed student loans for these programs & they will have to survive in the market.
get rid of guaranteed student loans for these programs & they will have to survive in the market.
Posted on 3/14/14 at 10:07 am to BigJim
quote:
Didn't think you could default on student loans? At least not the federal ones (ie the ones that really matter).
quote:
Prior to 2005, private label student loans were treated like other unsecured debt in bankruptcy, and were essentially discharged at the end of the bankruptcy case.
However, in 2005, Congress changed the status of private label loans in bankruptcy to match that of federal loans.
LINK
Posted on 3/14/14 at 10:08 am to BigJim
quote:ypu can't. They are non-dis-chargeable by bankruptcy.
Didn't think you could default on student loans? At least not the federal ones (ie the ones that really matter).
Posted on 3/14/14 at 10:14 am to Scruffy
quote:+100000000000000000000!!!!
This just seems like another situation where we are attacking a powerful symptom of the problem, but ignoring the true issue.
The problem isn't the for profit colleges. They just responded to a situation created by government overspending on student loans.
It isn't a smart political movie to attack the illogical student loan system though. It is much easier to go after these colleges.
Posted on 3/14/14 at 10:17 am to LSUnKaty
The bigger question is WHY is the government in the student loan business to begin with?
Posted on 3/14/14 at 10:22 am to Tigah in the ATL
quote:It seems like we are all on the same page here.
get rid of guaranteed student loans for these programs & they will have to survive in the market.
Posted on 3/14/14 at 10:33 am to a want
quote:
The Senate Committee on Health, Education, Labor, & Pensions spent two years investigating the industry and released a scathing report in 2012 that concluded taxpayers were wasting tens of billions annually because so many students took out huge loans through federal aid programs, yet failed to earn degrees.
He might want to crack down on the HBCU's too. I think GSU has a graduation rate of 10%.
LINK
Posted on 3/14/14 at 10:34 am to MMauler
quote:
I would also suspect that if Federal student loans weren't so readily available to anyone who applies, then demand for these schools would go down and many would be forced to lower their outrageous tuition.
Tuition at most schools has gone up dramatically - much more than the rate of inflation. Part of the problem is the ready availability of federal and private student loans. Just like the housing situation between 1997 and 2007, the availability of cheap money for those who will never be able to afford the product, creates an inflated price.
Great point.
Some many great points in the this thread, it is awesome.
Posted on 3/15/14 at 12:56 am to a want
Wonder how much Steve Eisman stands to make in all this?
Posted on 3/15/14 at 9:08 am to Chimlim
quote:
Does no one hold the students accountable?
I'm with you Chim. One thing I respect about this board is their staunch support of personal responsibility and you deciding your lot in life......unless theres a chance to bash the govt, then all that goes out the window. Sure, I agree these loans should be harder to receive, but at the same time no one is putting a gun to these adults' head (these are adults keep in mind) and forcing them to accept the money.
I get a financial aid packet every yr thats a mix of schollies, grants and loans. They "suggest" and I def could take out roughly 80K a year to cover tuititon (45K) plus fees, parking, rent/board and then miscellaneous things like books, supplies, (alcohol budget) etc. I know I can live much cheaper than that so I always take only about half of the max loan available and end up receiving more in the low 60s altogether. I'm not some financial wizard now am I especially frugal, but people need to be more responsible for their finances. I'm not excusing govt, but at the end of the day its the student that must click "accept" on these loans.
Posted on 3/15/14 at 9:20 am to a want
How about a crack down on for-profit politicians.
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