There is a heated discussion on Twitter started by Sen Warren on the subject of private college scams and loan forgiveness.
They (for-profit colleges) recruited aggressively, targeting non-traditional students — usually older people who had jobs and could only study part-time. They also focused heavily on women, people of color and veterans. But after graduating, many students struggled to find jobs that were promised to them or to transfer credits to other schools, leading to massive student loan defaults. A 2010 government study found that all of the 15 for-profit colleges evaluated by undercover agents made deceptive statements to prospective students and four of them encouraged fraudulent practices.
The Obama administration cracked down hard on for-profit colleges, pressuring Corinthian and ITT to close and approved at least $655 million in loan cancellations from those chains in recent years. At the same time, the administration also passed revisions to the borrower defense regulation and to another similar rule, known as gainful employment, with the aim of increasing students’ protections. Source: CBSnews.com
People agreeing with her maintain these eighteen year olds (an assumption) were scamed as to loan obligations and promised future jobs that were unrealistic. They also believe these students, because of their age, were incapable of making judgements and knowing they were being mislead.
Does that make sense? Is that an excuse? In addition, my 75 year old curmudgeon brain tells me that an eighteen year old high school graduate should be able to understand the basics of a loan and should ask questions. In addition, when seeking a career they should be able to go to the internet and check the average pay and the real world demand for such jobs and then put the two together and say, ummmm does this work?
But even if they can’t, there is guidance available either as described below or from parents or other relatives. Doesn’t anyone take responsibility?
According to bigfuturecollegeboard.org high school guidance counselors can assist with college planning in several ways, including:
A school counselor can steer you toward colleges that are right for you by recommending colleges that fit with your academic record and career goals. When it comes time to apply, your counselor plays a big role in the process.
Paying for College
The government, colleges and private organizations offer students money to help pay for college. Your school counselor is a good resource for information about this financial aid and can give you insight on how the process works. Be sure to ask about scholarships, which offer money you don’t have to pay back.
After you get into a college, your school counselor can help answer your questions about your financial aid package.
Then there is this concern. How can someone so gullible be qualified to vote? I think it’s a valid question but admittedly irrelevant at this point, but I still find it a bit unnerving.
Forgiving the loans these students incurred does something else. It teaches them that if you screw up and claim an excuse, someone, someone you don’t even know will bail you out. Where is the percentage is taking responsibility?
In 21st century America there is always an excuse.