Just to show you how out of it I am, who knew it was a colleges obligation to find you a job upon graduation and a good paying one to boot? I also must admit I am naive on this one, I thought anyone going to college was smart enough to evaluate such a promise even if made. The problem, of course is that many of these “colleges” are of the type that advertise on TV, are for-profit and not very or at all selective.
There is another disappointment here from this old guys naive perspective and that is the lack of integrity that is displayed when people find excuses to avoid their obligations. On the other hand, given today’s political environment I guess everyone is out for the “free” stuff. 🙁
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.
Education Department officials say they are still trying to grasp the potential bill that will be footed by taxpayers. They say the cost of forgiveness could ultimately be in the billions of dollars. WSJ 1-21-16