Government

I was misled; I don’t want to pay my student loans

Promised😡?

Is it unreasonable to expect a college student to take a modicum of responsibility and  look into the job prospects and salary possibilities in the field they are studying, especially if they are attending a school like a art institute or fashion school and the like? 

Apparently it is? And because there is no responsibility you will pay for their folly. 

The of­fice (a new Stu­dent Aid En­force­ment Unit within the Ed­u­ca­tion Depart­ment will re­view the thou­sands of applications the agency has re­ceived from bor­row­ers de­mand­ing to have their loans for­given on the grounds their schools misled them about their chances of get­ting a good job.


John King, the Ed­u­ca­tion De­part­ment’s act­ing sec­retary, made clear the office’s fo­cus will be on cor­porate-owned ca­reer colleges. Such schools have drawn the ire of thousands ­of stu­dents—a disproportion­ate share of them poor, black and His­panic—who took out huge sums of debt over the past decade but haven’t found the well-pay­ing jobs they say they were promised. WSJ 2-9-16

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5 replies »

  1. No problem if the taxpayers pick up the tab, assuming that there is a release where the government can create both criminal and civil class actions so as to sue the colleges for fraud. Let’s make sure that only those who have an actionable, legal claim receive debt forgiveness. That is, if you are gonna claim fraud, make sure you have proof that you were misled to the level arising to a criminal complaint.

    You know damn well that the Obama Administration’s form of “justice” is to file suit, and settle with a fine. That will cover the taxpayer’s butt.

    But, otherwise, get rid of the government guarantee, and that will put a stop to the stupidity because it will chill loans where the individual does not have a clear path to repay the loan (or lacks guarantors of the debt).

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  2. When are the regulators going to check the cor­porate-owned ca­reer colleges before the loans are approved?
    Many young students read the information that the school gives them in those glossy pamphlets and think they are good to go.
    If many of the schools could not get guaranteed government student loans most would go out of business. That is the real problem, almost zero oversight of the student loan programs and the schools that offer degrees that they know are almost worthless. .

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    • I know of someone with a PhD from a very prestigious school in London who is looking for a job. His degree is in War Studies believe it or not.

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      • A War Studies PhD sounds like a degree a retired general would earn to be an “expert” on his vocation and to assist in getting post retirement consulting jobs. I can’t imagine someone would get the same respect from studying the subject vs someone who lived it their whole career except by academic snobs. I also can’t believe that there would be more than 10 jobs world wide for success a degree if that many. How many governments, military war colleges, or arms manufacturers need a PhD in War Studies?

        Beside all the college and government promises of great jobs with the high tuition, the academic world has over specialized the degrees.

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      • A War Studies PhD sounds like a degree a retired general would earn to be an “expert” on his vocation and to assist in getting post retirement consulting jobs. I can’t imagine someone would get the same respect from studying the subject vs someone who lived it their whole career except by academic snobs. I also can’t believe that there would be more than 10 jobs world wide for such a degree if that many. How many governments, military war colleges, or arms manufacturers need a PhD in War Studies?

        Beside all the college and government promises of great jobs with the high tuition, the academic world has over specialized the degrees.

        Like

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