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Keyword: studentloans

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  • America’s Problem with Student Loans Is Much Bigger Than Anybody Realized

    02/03/2017 5:11:14 PM PST · by Lorianne · 43 replies
    Anti Media ^ | 01 February 2017 | Shaun Bradley
    The Department of Education recently released a memo admitting that repayment rates on student loans have been grossly exaggerated. Data from 99.8% of schools across the country has been manipulated to cover up growing problems with the $1.3 trillion in outstanding student loans. New calculations show that more than half of all borrowers from 1,000 different institutions have defaulted on or not paid back a single dollar of their loans over the last seven years. This comes in stark contrast to previous claims and should call into question any statistics provided by government agencies. The American people haven’t fully grasped...
  • US Government Caught Massively Fabricating Student Loan Default Data

    01/19/2017 10:11:47 AM PST · by SeekAndFind · 56 replies
    Zero Hedge ^ | 01/19/2017
    Ever since 2012 we have warned that one of the biggest threats arising from the US student loan bubble - which is no longer disputed by anyone except perhaps members of the outgoing administration - is not that it is soaring at an unprecedented pace, that's obvious for anyone with the latest loan total number over $1.4 trillion, rising at a pace of nearly $100 billion per year, but that the government - either on purpose or due to honest miscalculation - was not correctly accounting for the true extent of delinquencies and defaults. Today, we finally got confirmation...
  • Student debt now affects a staggering number of elderly Americans

    01/17/2017 8:37:01 PM PST · by SeekAndFind · 61 replies
    Washington Post ^ | 01/17/2017 | By Abha Bhattarai
    The number of older Americans taking on student debt on behalf of their children and grandchildren has quadrupled in the past decade, with consumers over 60 now holding $66.7 billion in student loan debt, according to a new report by the Consumer Financial Protection Bureau. The skyrocketing cost of college has placed a particular burden on older Americans, many of whom are struggling to pay back growing debts in their retirement years, according to the report. Nearly 40 percent of federal student loan borrowers over age 65 are in default, the highest rate for any age group, the data show....
  • We Have Too Many Law Schools, But This Isn't The Way To Thin The Herd

    01/13/2017 6:21:52 AM PST · by reaganaut1 · 39 replies
    Forbes ^ | January 13, 2017 | George Leef
    On December 19, the U.S. Department of Education announced that as of the end of the year, it would no longer allow students to use federal aid money at the Charlotte School of Law (CSL). The reason for this unprecedented move was the decision by the American Bar Association in November to place CSL on probation because of the low passage rate among its students on the most recent administration of the North Carolina bar exam. ... Instead of an administrative decree that one (or even dozens) of the schools with low bar passage rates will be denied federal student...
  • The Feds Should Stop Luring Students Into Ruinous College Debts

    12/11/2016 2:28:33 PM PST · by reaganaut1 · 62 replies
    Forbes ^ | December 11, 2016 | George Leef
    American college students have taken to saying that they need “safe spaces” on campus. They really don’t, since all they’re after is “safety” from ideas they dislike. But if they were thinking ahead to life after graduation, many might wonder if they’ll need a safe space when the bills for their college loans start coming due. Much as they may want one, there won’t be any such haven. Bad borrowing decisions are almost impossible to escape. Consider the case of Liz Kelley, who is more than $410,000 in debt to the government for her student loans, as we learn in...
  • Indoctrinating the Young in Hate Factories

    12/03/2016 5:00:37 PM PST · by Sean_Anthony · 20 replies
    Canada Free Press ^ | 12/03/16 | Ray DiLorenzo
    Our education system has created a multitude of young, inexperienced, poorly educated, indoctrinated minds, speaking as with authority…scary! If you want to learn to hate America, your nearest public school or college is waiting for you. If it is a university you want to attend, don’t worry about the cost, the government (taxpayers) will pick up the tab as student loans are about to be forgiven to the tune of $108 billion and will probably go much higher. Our schools across the country have created and nurtured millions of godless, America-hating, angry, statist, whiny, cry babies and we will all...
  • 5 ways President Trump could affect your student loans

    11/14/2016 7:40:33 AM PST · by SeekAndFind · 35 replies
    Los Angeles Times ^ | 11/13/2016
    President-elect Donald Trump has plans to address college affordability and student debt, though many details remain to be worked out. In an Oct. 13 speech in Columbus, Ohio, he outlined the basics of his views on student debt, tuition rates, administrative “bloat,” income-based repayment and loan forgiveness. “Students should not be asked to pay more on their loans than they can afford,” he said. “The debt should not be an albatross around their necks for the rest of their lives.” Trump and the Republican Party didn’t emphasize higher education in their campaign platforms, leaving experts puzzled as to what policies...
  • Wikileaks: "Another victory: Student loan reform"

    10/20/2016 5:02:53 PM PDT · by grey_whiskers · 13 replies
    Wikileaks ^ | October 20 2016 | relased via Wikileaks
    Another victory: Student loan reform From:info@barackobama.com To: john.podesta@gmail.com Date: 2010-03-30 18:49 Subject: Another victory: Student loan reform John -- In Spring 2007, on a conference call with students, then-Senator Barack Obama called for major reform to federal student loans: "We shouldn't be providing billions in taxpayer-funded giveaways to private banks. We should be providing an affordable, accessible college education to every American." This morning, President Obama signed those historic reforms into law. Dr. Jill Biden, an educator for 29 years, just recorded a short video explaining what these groundbreaking reforms mean for education in America. Click here to watch: http://my.barackobama.com/StudentLoanReform5...
  • The Largest Predatory Lender in America

    09/29/2016 5:28:11 AM PDT · by Hojczyk · 18 replies
    Weekly Standard ^ | September 29,2016 | | By KEVIN COCHRANE
    What would you think of a lender that has holds more than one $1 trillion in loans outstanding, targets low income and minority borrowers, has a payment delinquency and default rate in excess of 25 percent, and has postponed repayment on 14 percent of its loans, but is still accruing interest on them? Wouldn't you think that some government agency—say, the Consumer Financial Protection Bureau, the Federal Reserve, or even Congress—would be investigating this perfect definition of a predatory lender and trying to shut it down? Roughly 45 percent of people that enroll in college ultimately drop out without ever...
  • Obama administration kills ITT Tech, stranding 40,000 students and destroying 8,000 jobs

    09/07/2016 7:54:13 PM PDT · by MtnClimber · 32 replies
    American Thinker ^ | 7 Sep, 2016 | Thomas Lifson
    Tyrants throughout history have known that beheading their enemies and placing the heads on pikes at the gates of their capitals sends a powerful message to everyone else. Behave yourself as we dictate, and you may survive. Cross the king, and you are a dead man. Something very similar, but updated and taken to a vast financial level, happened to ITT Tech, the privately owned trade school/university. As the Wall Street Journal explains, it crossed the king (in this case, the Obama Department of Education): ITT Technical Institute folded on cue Tuesday after the Obama Administration issued a regulatory death...
  • ITT Tech Shutters All Campuses After Federal Aid Sanctions

    09/06/2016 2:34:44 PM PDT · by 2ndDivisionVet · 70 replies
    ABC News ^ | September 6, 2016 | Collin Binkley, The Associated Press
    The for-profit college chain ITT Technical Institute is shutting down all 130 of its U.S. campuses, saying Tuesday it can't survive recent sanctions by the U.S. Department of Education. In a letter to more than 35,000 students, the Indiana-based parent company ITT Educational Services announced that campuses won't open for the fall term that was scheduled to begin Sept. 12 — leaving students scrambling for last-minute options since many U.S. colleges already have started fall classes. ITT also cut more than 8,000 jobs immediately....
  • ITT Tech shuts down all its schools; students might get loans forgiven

    09/06/2016 10:13:43 AM PDT · by rightwingintelligentsia · 45 replies
    LA Times ^ | September 6, 2016 | Jim Puzzanghera
    The company that operates ITT Technical Institutes said Tuesday that it was permanently closing all its campuses nationwide, blaming the recent move by the U.S. Education Department to ban the for-profit college operator from enrolling new students who use federal financial aid. ITT Educational Services Inc. said that the shutdown will affect “tens of thousands” of students who were preparing for the start of classes this month and cost more than 8,000 employees their jobs. “We reached this decision only after having exhausted the exploration of alternatives, including transfer of the schools to a non-profit or public institution,” ITT said...
  • Why the Next President Should Forgive All Student Loans (grab your Barf Bag)

    08/15/2016 4:14:31 PM PDT · by Lorianne · 54 replies
    TIME ^ | 12 August 2016 | Leon Botstein
    <p>If Hillary Clinton is to win this November, she needs to motivate the electorate to come out to vote for something more than a justified aversion to Donald Trump.</p> <p>Particularly for younger voters and voters with families, she has to capture their imaginations with a bold, simple, and common sense proposal to address one of the most critical financial and social problems currently facing a generation: the student loan crisis. And she needs to do so in a way that can do the most immediate good for the nation at large.</p>
  • Guest Commentary: Who's At Fault For Student Loans?

    08/12/2016 8:22:16 AM PDT · by george76 · 66 replies
    WBUR ^ | August 11, 2016 | Bob Hildreth
    whom to blame for the student loan crisis; it’s big banks, big government and big corporations ... But if we are really honest, it is us, the citizens, who are to blame. We let our government enter into a crazy scheme of financing America’s colleges with debt. As a taxpayer, you had the right to protest. At any time over the past 50 years, you could have elected leaders who would have replaced the federal student loan program. But you looked away. You accepted the indebted fate of your children. ... Colleges responded by gulping up all the money they...
  • Amazon To Issue Student Loans To New "Prime" Shoppers

    07/23/2016 10:08:07 AM PDT · by Lorianne · 32 replies
    Zero Hedge ^ | 21 July 2016 | Tyler Durden
    On the off chance the US didn't already have a big enough problem thanks to a staggering $1.3 trillion in student loans which contrary to White House' claims, are crushing an entire generation under their interest expense weight, earlier today none other than billionaire Jeff Bezos announced he was entering the student loan business, when Amazon unveiled a partnership with Wells Fargo in which the bank’s student-lending arm would offer interest-rate discounts to select Amazon shoppers. In Amazon's latest attempt to entice shoppers into its premium Prime program, Wells Fargo will cut half a percentage point from its interest rate...
  • Student Debt Helps, Not Harms, the U.S. Economy, White House Says

    07/19/2016 12:02:51 PM PDT · by Brilliant · 34 replies
    WSJ ^ | July 19, 2016 | Josh Mitchell
    The White House just released a big report on student debt that contains all the familiar horrors about for-profit schools, indebted dropouts and students defaulting on their loans. But it has an interesting conclusion: That growing stack of $1.3 trillion in student debt is helping, not hurting, the U.S. economy. That conclusion is sure to rankle the many student advocates and special-interest groups—from real-estate agents to employers seeking new tax breaks for their young workers—that argue student debt is a big “drag” on the economy. (Hillary Clinton and Donald Trump have each decried the rise in student debt.) But the...
  • For First Time in Modern Era, Living With Parents Edges Out Other Living Arrangements for 18-34y.o.

    05/31/2016 1:19:52 PM PDT · by TigerClaws · 68 replies
    Broad demographic shifts in marital status, educational attainment and employment have transformed the way young adults in the U.S. are living, and a new Pew Research Center analysis of census data highlights the implications of these changes for the most basic element of their lives – where they call home. In 2014, for the first time in more than 130 years, adults ages 18 to 34 were slightly more likely to be living in their parents’ home than they were to be living with a spouse or partner in their own household. 1 This turn of events is fueled primarily...
  • TRUMP CAMPAIGN PLANS COLLEGE OVERHAUL

    05/24/2016 8:17:22 AM PDT · by Academiadotorg · 88 replies
    Accuracy in Academia ^ | May 23, 2016 | Deborah Lambert
    Who knew that the Trump campaign would be getting involved in higher education policy this year? Sam Clovis, a tenured economics professor and Trump campaign co-chair, recently noted that their objectives include getting the government out of student lending, requiring colleges to share in student loan risk, and discouraging borrowing by liberal arts majors. Clovis told Inside Ed that the mere mention of these policy proposals has sent some Washington graybeards into a swivet, and "he expects some higher education leaders to react the same way when Trump outlines these ideas during the fall campaign." Some of the ideas under...
  • Sharia students loans that do not conflict with the rules of Islam to be offered for the [tr]

    05/17/2016 6:01:49 AM PDT · by C19fan · 14 replies
    UK Daily Mail ^ | May 16, 2016 | Eleanor Harding
    Sharia student loans will be set up for the first time in Britain as part of a drive to boost the number of young Muslims applying to university. The Government confirmed on Monday that a new ‘halal’ finance model will be introduced which does not conflict with the rules of Islam. Muslims are forbidden from taking out loans on which they would be charged interest, and campaigners say this is putting some youngsters off going to university.
  • Make Colleges Back Up Their Student Loans

    05/02/2016 8:48:35 AM PDT · by reaganaut1 · 56 replies
    National Review ^ | May 2, 2016 | PAUL KUPIEC & RYAN NABIL
    ... The key to controlling costs and student-debt burdens is to require colleges themselves to have “skin in the game” so they have strong incentives not only to provide a good education, but also to safeguard the financial solvency of their graduates. Colleges should be required to offer all students the first tranche of their funding. The funding could be an ISA or a student loan, but in either case, the student’s future payments on these obligations must be subordinate to all outside student-loan obligations. In other words, federal student loans must be paid before loans or ISA reimbursements are...
  • More Than 40% of Americans Not Making Student Loan Payments

    04/20/2016 3:09:01 PM PDT · by SeekAndFind · 42 replies
    Investopedia ^ | 04/15/2016 | By Shoshanna Delventhal
    Total U.S. student debt now topples credit card debt, surpassing the $1 trillion threshold in 2012. Each year a new class of students graduates from college; however, many of those graduates do not find jobs that can adequately allow them to pay back the hefty loans. (For related reading, see: Student Debt Passes $1 Trillion: Is College Worth the Investment?) A new report by the Education Department highlights the student debt epidemic. Not only is more than $200 billion in student debt owed to the federal government, several borrowers are woefully behind on making payments. The recent statement from the...
  • Can Our Colleges be Saved?

    03/10/2016 6:11:48 AM PST · by Kaslin · 18 replies
    Townhall.com ^ | March 10, 2016 | Victor Davis Hanson
    The public is steadily losing confidence in undergraduate education, given that we hear constantly about how poorly educated are today's graduates and how few well-paying jobs await them. The cost of college is a national scandal. Collective student loan debt in America is about $1.2 trillion. Campus political correctness is now daily news. How could higher education be held accountable and thereby be reformed? Just as expensive new roofs are not supposed to leak, $100,000 educations should not leave students unprepared for the real world upon graduation. Rain and snow calibrate the effectiveness of a roofer's work, but how does...
  • New Orleans rapper Dee-1 pays off student loans, sings about it in viral video

    03/06/2016 12:07:53 PM PST · by BBell · 9 replies
    NOLA.com | The Times-Picayune ^ | 2/18/16 | Chelsea Brasted, NOLA.com | The Times-Picayune
    Few rappers likely know Louisiana's education system as well as Dee-1. The New Orleans-raised rapper, whose real name is David Augustine, used to teach middle school in Baton Rouge. Then, in 2015 he signed a major label record contract with RCA's Inspiration imprint and went on tour around the country. Still, New Orleans is home and with many questions about the future of TOPS and higher education on the table during the special legislative session at the Capitol, Dee-1 used his music to draw attention to one of his concerns: student loans. In a new music video posted to Facebook...
  • 27% of the Federal Government's Assets Are Student Loans ($881 billion)

    02/29/2016 10:41:46 AM PST · by reaganaut1 · 15 replies
    Weekly Standard ^ | February 29, 2016 | Jim Swift
    "Congratulations" the Wall Street Journal wrote in late 2009. "You're about to own $100 billion a year in student loans." They weren't kidding. As part of Obamacare, Congress passed the Student Aid and Fiscal Responsibility Act or SAFRA, a revenue positive pay-for that made Obamacare's budget impact less costly. The Journal called it a "takeover of the student-loan market." Fast forward six years to a report recently issued by Bureau of the Fiscal Service, a division of the Department of the Treasury. The Fiscal Service issues the Financial Report of the United States Government, and what they report for 2015...
  • US Marshals arresting people for WHAT?

    02/20/2016 2:31:47 PM PST · by TBP · 98 replies
    Conservative Byte ^ | FEBRUARY 16, 2016
    Believe it or not, the US Marshals Service in Houston is arresting people for not paying their outstanding federal student loans. Paul Aker says he was arrested at his home last week for a $1500 federal student loan he received in 1987. He says seven deputy US Marshals showed up at his home with guns and took him to federal court where he had to sign a payment plan for the 29-year-old school loan.
  • A Truly Indebted Nation

    02/20/2016 1:41:32 PM PST · by Kaslin · 13 replies
    Townhall.com ^ | February 20, 2016 | Arthur Schaper
    If all politics is local, then local problems can illustrate the national conscience and need for principled consensus.Thursday morning, and a colleague in shock informed our work group that Houston, Texas police officers were arresting 1,200 people for delinquent student loan payments. Today, 40—40!—million Americans are still paying for that college education which should have paid for itself after years of study and a good job that followed.That Houston drama is red meat for the liberal media, to seduce readers to vote for another liberal candidate promising free everything. Another point: debtor's prison is unconstitutional.Here's the full story.Yes, Paul Aker...
  • US Marshals arresting people for not paying their federal student loans

    02/16/2016 7:43:54 AM PST · by TigerClaws · 96 replies
    HOUSTON (FOX 26) - Believe it or not, the US Marshals Service in Houston is arresting people for not paying their outstanding federal student loans. Paul Aker says he was arrested at his home last week for a $1500 federal student loan he received in 1987. He says seven deputy US Marshals showed up at his home with guns and took him to federal court where he had to sign a payment plan for the 29-year-old school loan. Congressman Gene Green says the federal government is now using private debt collectors to go after those who owe student loans. Green...
  • Thousands Apply to U.S. to Forgive Their Student Loans, Saying Schools Defrauded Them

    01/20/2016 5:55:02 AM PST · by doldrumsforgop · 24 replies
    wsj ^ | 1/20/16 | j mitchell
    Americans are flooding the government with appeals to have their student loans forgiven on the grounds that schools deceived them with false promises of a well-paying career—part of a growing protest against years of surging college costs. In the past six months, more than 7,500 borrowers owing $164 million have applied to have their student debt expunged under an obscure federal law that had been applied only in three instances before last year. The law forgives debt for borrowers who prove their schools used illegal tactics to recruit them, such as by lying about their graduates’ earnings. The U.S. Education...
  • Our sons' $189,000 student debt is delaying our retirement

    12/02/2015 8:00:49 AM PST · by Responsibility2nd · 132 replies
    CNN ^ | 11/30/2015 | Matt Egan
    For the past 20 years Susanne Walsh has been dreaming of a retirement where she'd travel the world. Unfortunately, those retirement plans are now on hold -- indefinitely. That's because Susanne and her husband Bill helped pay for their two sons' college education and even cosigned on some of their student loans. Despite graduating with four-year degrees, neither of them have found stable jobs. Now Bill and Susanne are shouldering the brunt of roughly $189,000 in combined student loans. "I really didn't think I'd still be working at this age," Susanne, 59, told CNNMoney. The couple is currently paying $744...
  • UK teen spent student loan to join ISIS

    11/21/2015 7:26:23 AM PST · by Lera · 9 replies
    Arutz Sheva ^ | 11/20/2015 | Arutz Sheva staff
    19-year-old Yahya Rashid alleges he wanted to join 'Islamic Utopia' but not fight; jailed for five years. A 19-year-old who spent his student loan traveling to the Turkey-Syria border and wanted to join the Islamic State (ISIS) group is behind bars in Britain, police said Thursday. Yahya Rashid paid ÂŁ906 (1,300 euros, $1,400) for himself and four friends to travel to the Turkish border town of Gaziantep in February. He stayed in an ISIS safe house but shortly before he was due to cross into Syria, he changed his mind and returned to Istanbul. Rashid, aged 18 at the time,...
  • Neil Cavuto Asks Student Protestor How U.S. Will Pay for Socialist Wish List

    11/12/2015 4:03:41 PM PST · by Hojczyk · 42 replies
    The Washington Free Beacon ^ | November 12,2015 | Blake Seitz
    Fox Business host Neil Cavuto engaged a scholar in earnest Socratic dialogue Thursday. Keely Mullen is a national organizer for #MillionStudentMarch, a movement that demands “tuition-free public college, cancellation of all student debt, and a $15 minimum wage for all campus workers” in response to the crisis caused by rapacious corporate education. “#MillionStudentMarch is a movement for a more equitable and fair system of education as opposed to the really corporate model we have right now,” Mullen said. Mullen is a graduate of the prestigious Francis W. Parker School and political science student at Northeastern University, according to her LinkedIn...
  • The 7 Keys To Trapping As Many Americans As Possible In Poverty

    11/03/2015 5:42:47 AM PST · by Kaslin · 16 replies
    Townhall.com ^ | November 3, 2015 | John Hawkins
    Keeping Americans poor in a prosperous country like America is not as easy as you think. After all, this is the "land of opportunity." Legal immigrants pay tens of thousands of dollars and wait years for the opportunity to come legally and illegal immigrants often risk their lives just so they can get here and do menial work. This is the country that made Bill Gates, Steve Jobs and even OPRAH into billionaires and it's a nation where you can have everything from hoverboards to medicine for your pet delivered right to your door. So when there's so much wealth...
  • Millennial voters weigh in on ’16 candidates

    10/12/2015 2:10:52 PM PDT · by 2ndDivisionVet · 22 replies
    WGNO-TV ^ | October 12, 2015 | Anthony Perrucci, CNN
    CNN asked millennial voters from a range of backgrounds to weigh in on whether, and how well, the 2016 presidential candidates are reflecting the priorities of their generation — the largest and most diverse demographic cohort in American history — as they make their case to voters. The opinions expressed are solely those of the authors. Elizabeth Elizalde, 22, is a New York-based journalist and a former CNN en Espańol intern. Follow her on Twitter @EElizalde5. I’m a 22-year-old Latina living in New York City, and as a recent college graduate, I know the struggle of making ends meet. My...
  • Brace Yourself: Our Latest Look at Student Debt

    09/26/2015 10:13:18 PM PDT · by entropy12 · 12 replies
    advisorperspectives ^ | 09-23-2015 | Doug Short
    College Tuition and Fees constitute one of the biggest threats to our economic outlook. Here is a chart of data from the relevant Consumer Price Index sub-component reaching back to 1978, the earliest year Uncle Sam provides a breakout for College Tuition and Fees. As an interesting sidebar, we've thrown in the increase in the cost of purchasing a new car as well as the more substantial increase for the broader category of medical care, both of which pale in comparison.
  • The Biggest Problem with Student Loans

    09/13/2015 6:37:19 PM PDT · by SeekAndFind · 32 replies
    National Review ^ | 09/13/2015 | Kevin Williamson
    As a purely economic matter, the principle of diminishing returns applies to education. Little Moonbeam almost certainly will be financially better off in life with her B.A. in women’s studies (the fact that one has an undergraduate degree matters more than what subject the degree is in), but the M.F.A. in creative writing on top of that probably will not pay comparable dividends, and the inevitable doctorate in social work is likely to prove a zero-return investment. We’re talking purely financial concerns here: Of course an intellectually curious man who makes a fine living as a specialist welder would be...
  • Walker rejected bill to make student loan payments tax deductible, Hillary says [rated:FALSE]

    09/09/2015 11:03:14 AM PDT · by Cincinatus' Wife · 8 replies
    Politifact ^ | September 9, 2015 | Tom Kertscher
    Hillary Clinton’s 2016 presidential campaign will make its first stop in the Badger State on Sept. 10, 2015. The visit, with a private fundraiser and a public event at the University of Wisconsin-Milwaukee, comes one month to the day after Clinton proposed a 10-year, $350 billion college affordability plan. That plan aims to reduce the cost of four-year public schools, make two-year community colleges tuition-free and cut student loan interest rates. Speaking about the plan the next day, Aug. 11, 2015, the Democratic frontrunner took a swipe at the Republican White House contenders and singled out Gov. Scott Walker. "I...
  • Student Loans Might Be Driving Up the Cost of College. So What Do We Do About It? (Might be??)

    09/09/2015 10:15:50 AM PDT · by Responsibility2nd · 40 replies
    Slate ^ | 09/08/2015 | Jordan Weissmann
    In 1987, President Reagan's secretary of education, Bill Bennett, published a now classic New York Times op-ed titled “Our Greedy Colleges” in which he argued that the government's attempts to make higher education more accessible may have also accidentally made it more expensive. “If anything,” he wrote, “increases in financial aid in recent years have enabled colleges and universities blithely to raise their tuitions, confident that Federal loan subsidies would help cushion the increase.” Ever since then, academics have sparred over whether the so-called Bennett hypothesis is really true. Do colleges actually take advantage of all those federal grants and...
  • What’s Happening in China Is Happening Here [Our student loans are like their apartment blocks]

    08/13/2015 7:16:37 AM PDT · by SeekAndFind · 6 replies
    National Review ^ | 08/13/2015 | Kevin Williamson
    Student loans are Chinese apartment blocks are Jiang Jianqing’s private jet. Jiang Jianqing is the boss at the Industrial and Commercial Bank of China (ICBC), which bought a few private jets a while back — with your money. As the invaluable Timothy Carney explains, this was another in the Export-Import Bank’s long line of shenanigans. ICBC, the largest bank in the world, set up a leasing company to buy the jets from Hawker Beechcraft, which was at the time owned by Goldman Sachs. The Export-Import Bank offered sweetheart financing to make the deal happen. As Carney summarized: “The U.S. taxpayer...
  • This Student Debt Relief Program Will Cost Taxpayers $39 Billion

    08/06/2015 2:19:29 PM PDT · by reaganaut1 · 14 replies
    Bloomberg | August 6, 2015 | Janet Lorin
    No excerpt allowed from Bloomberg, story here
  • 'Drive-By' Default: Lee Siegel's Poor Financial Advice

    06/15/2015 6:45:10 AM PDT · by DWW1990 · 5 replies
    American Thinker ^ | June 15, 2015 | Trevor Thomas
    Chalk this one up to yet another New York Times liberal who wants others to pay his bills. (Paul Krugman must be proud.) On the 71st anniversary of what some considered the most important day of the twentieth century, a day where thousands of men, for the sake of others, paid with all that they had, the opinion pages of the New York Times ran the “brave” piece, “Why I Defaulted on My Student Loans.” (I suppose the author will receive the Bruce Jenner award for courage.)
  • US will erase student debt for Corinthian students

    06/09/2015 1:35:33 AM PDT · by 2ndDivisionVet · 14 replies
    The federal government will erase much of the debt of students who attended the now-defunct Corinthian Colleges, officials announced Monday, as part of a new plan that could cost taxpayers as much as $3.6 billion. Corinthian Colleges was one of the largest for-profit schools when it nearly collapsed last year and became a symbol of fraud in the world of higher education and student loans....
  • A generation of Peter Pans

    05/16/2015 6:59:26 AM PDT · by rktman · 24 replies
    wnd.com ^ | 5/16/2015 | Patrice Lewis
    An interesting doom-and-gloom piece appeared on ZeroHedge this week entitled “A Generational Storm is Coming.” Apparently written as a rather depressing commencement address for the graduating class of 2015, it discusses the current economic realities facing young people and tends to put a lot of blame on the older generation for screwing them over. OK, fine, whatever. But it did have a couple of interesting points regarding college students: “[The student loan delinquency rate] will probably go much higher … as students take on more debt. Total outstanding student debt is expected to bubble up to $3.3 trillion by 2025....
  • A Generational Storm Is Coming

    05/13/2015 8:40:08 AM PDT · by all the best · 11 replies
    Bonner & Partners ^ | May 12, 2015 | Bill Bonner
    Yesterday, we began our high-minded graduation speech to the Class of 2015. We explained how the young graduates were not only the most heavily indebted in history, but also the least likely to be able to pay their debts. Median wages have been going down since these graduates were about five years old… So have economic growth rates. Today, we continue the speech no one wants us to give… You are heirs to claptrap, nonsense, bogus theories, and trillions of dollars in debt. The systems, programs, and institutions your parents set up are mostly worthless scams. Worse, they produce outcomes...
  • Debt-Free College? Democrats Learn the Wrong Lessons from Obamacare

    05/08/2015 1:25:37 PM PDT · by jfd1776 · 5 replies
    Illinois Review ^ | May 8, 2015 A.D. | John F. Di Leo
    Hillary Clinton, Marty O’Malley, Liz Warren, and other 2016 Democrat candidates for the presidency are apparently trying to differentiate themselves from the real-world economics of Republicans by returning to the tried-and-true method of promising to rob Peter to pay Paul, while giving the impression that YOU don’t have to worry, because, dear voter, YOU’LL never be Peter. The latest method is in capitalizing on the headlines about crippling college debt by setting "debt free college" as their goal. Now, as far as that goes, it’s a perfectly worthy goal. “Pay as you go” living has always been the responsible advice...
  • US Presidential candidate: Ted cruises to S.C.

    04/23/2015 9:27:26 AM PDT · by 2ndDivisionVet · 4 replies
    The Georgia Regents University Bellringer ^ | April 23, 2015 | Jessica Sager
    2016 presidential candidate Sen. Ted Cruz (R) spoke to a sold-out Newberry Hall during an Aiken Republican Club luncheon April 4. After the luncheon, The Bell Ringer interviewed Cruz about his views on education, including his wish to shut down the Department of Education. “It is because education is so important that it shouldn’t be governed by unelected bureaucrats in Washington, that it should be instead at the state or local level,” Cruz said. “And what we’ve seen right now is the Department of Education has grown into a bloated bureaucracy where what’s happening is they’re putting red tape, they’re...
  • The Real Student Loan Crisis Is The One Obama Created

    04/17/2015 5:28:23 AM PDT · by afraidfortherepublic · 20 replies
    Investor's Business Daily ^ | 4-16-15 | Editorial
    rresponsibility: A new report finds that 27.3% of student loans are delinquent. Why does this matter? Because thanks to President Obama, about $1 trillion dollars of student loan debt is owed to the federal government. Obama keeps trying to portray the student loan crisis as a problem suffered by students burdened by a mountain of debt when they graduate, and who are unable to make enough money to pay it back. But that's not the real crisis. First, average student loan debt is only a little over $20,000. A student who gave up his $5-a-day Starbucks habit could pay off...
  • Are Student Loans the new Sub-Prime Bubble?

    04/17/2015 7:46:44 AM PDT · by SeekAndFind · 6 replies
    American Thinker ^ | 04/17/2015 | Chriss Street
    On April 15 Tax Day, Americans paid about the same amount of income tax as total student loans outstanding. The St. Louis Federal Reserve on the same day published a report titled ‘Student Loan Delinquency: A Big Problem Getting Worse?' The Fed has determined that of the $1.3 trillion in non-bankruptcy-dischargeable student loans, the delinquency rate for students in repayment is over 27 percent. With tuition at the University of California and other top schools growing faster than inflation, student loan defaults are skyrocketing. Prior published student loan reports have stated that the “30+ days delinquency rate for all student...
  • Banks are bailing on the student loan business and it couldn't come at a worse time

    04/15/2015 12:22:31 PM PDT · by SeekAndFind · 32 replies
    Business Insider ^ | 04/15/2015 | Jonathan Marino
    Some of the world's biggest banks, including JP Morgan, Bank of America and US Bancorp, are withdrawing from the student loan market. That's according to a series of reports over the past couple years.It couldn't come at a worse time.That is because it coincides with a rise in students who want student loans.And, the amount of money those students want to borrow is also going up because the price of of a college education keeps rising.This chart tells the story: Federal Reserve Bank of New York -- Staff Reports April 2014 NY Federal Reserve report shows borrowers, and their average...
  • Rand Paul: College tuition should be a tax writeoff

    04/11/2015 1:14:11 PM PDT · by 2ndDivisionVet · 74 replies
    The Washington Post's Post Politics ^ | April 11, 2015 | Katie Zezima
    IOWA CITY, Iowa - Sen. Rand Paul called Friday for college tuition to be a tax writeoff in his first direct pitch to young voters of his presidential campaign. Paul used the power of the pocketbook, along with calls for electronic privacy and reforming the criminal justice system, to appeal to what he called the "Instagram generation," a constituency he sees as vital to his nascent presidential campaign. Paul blasted President Obama's plan for free community college, telling the crowd of a few hundred people, mostly students, that it won't work because someone has to pay for professors and facilities....
  • The Real Reason College Tuition Costs So Much

    04/06/2015 12:39:57 AM PDT · by iowamark · 56 replies
    New York Times ^ | APRIL 4, 2015 | Paul Campos
    ONCE upon a time in America, baby boomers paid for college with the money they made from their summer jobs. Then, over the course of the next few decades, public funding for higher education was slashed. These radical cuts forced universities to raise tuition year after year, which in turn forced the millennial generation to take on crushing educational debt loads, and everyone lived unhappily ever after... In fact, public investment in higher education in America is vastly larger today, in inflation-adjusted dollars, than it was during the supposed golden age of public funding in the 1960s. Such spending has...