Posted on 01/15/2018 1:13:25 PM PST by reaganaut1
Education Secretary Betsy DeVos has kicked the hornets’ nest again, this time by changing the regulations for deciding if a student will be relieved of his or her obligation to repay federal college loans.
The way our higher education finance system works, the federal government makes it easy for students to borrow money for college, no matter how academically weak and disengaged they might be. Many schools have been created to cash in on that money by providing educational programs (mostly with a vocational focus) for people who think they need some postsecondary education to land a job.
All those schools need to do is become accredited by one of the accrediting agencies recognized by the Department of Education. That isn’t very difficult and once accredited, the schools don’t have to worry much about their standards. Neither the accreditors nor the government scrutinizes them to ensure that students aren’t squandering their time and the taxpayers’ money.
The whole system invites waste, fraud, and abuse and has proved to be tempting for school officials who want to bring in as much revenue as possible by enrolling very marginal students with promises of good careers after they graduate. Whether the programs were of decent quality or students were apt to benefit from them didn’t particularly matter. If the students couldn’t find work and pay off their loans, it wasn’t the schools’ problem.
As long ago as the 1970s, federal officials were aware of this. In particular, Caspar Weinberger, while serving under Presidents Nixon and Ford, called attention to the problems with student aid. As this Century Foundation paper states, “HEW Secretary Weinberger recognized that because his agency was in effect endorsing the schools by backing the loans, the federal government bore some responsibility for the abuses.”
(Excerpt) Read more at forbes.com ...
No.........................
Call the SWAT team. Let the word get out what happened.
Your loan is forgiven when you make Double Diamond in the Amway biz.
It’s not right for We the People to bail the children out. Their parents can do it, they can pay it off, AND they can learn self-discipline. Next they’ll be whining about how they cannot afford Starbucks AND pay off their student loans. So pathetic.
Depends what color.
Suck it up, buttercup.
When you return the education, we return the money. Till then, pay up.
Give these lazy ass snowflakes coloring books and some tissue for their deep tears.
Make them pay. As they should. We are creating a nation of irresponsible snowflakes who want welfare from the producers.
Hmm, you mean there aren’t jobs out there for people with a masters in social justice warrior, safe spaces, women’s studies and basket weaving?
That’s so unfair!
Kleenex and a job application.
Lots of places are now hiring full-time, paying more, and making it rain bonuses (thanks, Trump).
Time to get to paying, kids!
Hakuna Mattata...
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>> “That’s so unfair!” <<
LOL !!!!
.
The Feds have absolutely no business being in the student loan business in the first place.
Want to pay off your school loan? See that building over there that says Army, Navy, Air Force, Marines? Pick one and plan on spending the next 4 years there. And if you choose to leave at any point during those 4 years, your loan still will have to be paid in full.
Albeit a long time ago, I graduated debt free with $7.49 to my name. I paid most of it. My parents helped some. My wife was the same. We worked and put our earnings toward college.
We have four adult kids. Two have associates degrees. One is taking her bachelors at an online school and paying the entire bill herself. The other is considering getting her degree and will also pay most or all herself.
Number three is a senior Aerospace engineering student. Hard science, so we support loans. Most of what he owes is to us. He has some scholarships, a few thousand in student loans too. Not much. His college job at NASA actually has tuition reimbursement.
Play the game right, you don’t need to come out of school laden with debt.
We had to pay our student loans, so they should also pay theirs. The kids all feel entitled and they do not want to pay their fair share. We are repeating the errors of the Roman Empire. But then the snowflakes are too entitled to be bothered to read history, so they will repeat it.
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