What is going on with student loans?
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Anonymous
They’re not poor. |
Anonymous
To the contrary, the Obama administration spent years battling Republicans to try to reign in the worst colleges selling useless degrees. They enacted a regulation called the gainful employment rule that would have disqualified colleges from eligibility for federal student aid if large numbers of their graduates fail to land good jobs that would allow them to repay their debts. Obama also revoked recognition of one of the worst accrediting bodies. The Trump administration then scrapped the regs and recognized that accrediting body, letting those colleges go right back to selling useless degrees funded by federal loans. But I don't want to confuse you with facts. |
Anonymous
Rich people’s money is important. |
Anonymous
Rich student loan borrowers like MBA grads, lawyers, doctors and people who recently finished undergrad who are working on Wall Street. |
Anonymous
Most non-profit colleges are no better than for-profit ones. |
Anonymous
+10000000000000 |
Anonymous
+1 We need that money to bail out VC firms and their clients |
Anonymous
This is very true. Many "nonprofit" private colleges are total scams; nonprofit does not confer charitable mission by any means. And frankly, 2-year community colleges and regional 4-year public universities are not much better. Community colleges have <25% completion rates and most regional 4-years have <50% completion rates. Every year these local colleges soak thousands of poor students with debt who NEVER graduate. At least if you have a degree you qualify for a half-decent career. No degree plus loans is a financial grave for poor young adults. |
Anonymous
For profit schools enroll 10% of students but have 50% of student loan defaults. But again, I don't want to confuse you guys with facts. |
Anonymous
You are a low-information troll. "Rich"? You have to make less than $125,000 to qualify for the $10,000 loan forgiveness. To qualify for the $20,000 loan forgiveness, you have to make less than $125,000 and had to be a poor college kid who qualified for Federal Pell Grants (less than $50,000 HHI during undergrad?). And also, most qualified forgiveness applicants do not have $10,000 or $20,000 in outstanding loans, so they would receive far less forgiveness than the caps. |
Anonymous
Yes, a 23-year old working at Deloitte in NYC who has $15k in student loans and makes $105k is rich. They make more than 99% of folks their age and their income will only go up. |
Anonymous
The most prolific racket college in the Midwest, Baker College, is considered nonprofit. They charge $435 to $750 per credit hour and about 75% of their students drop or fail out before graduating. They rake in so much freakin' money, school leaders have diverted $300 million (!!!!!) into an affiliated nonprofit. Pro Publica had great reporting on this college last year. Why and how is a racket college like this still accredited? Why has nobody at a college like this gone to prison? A tiny college you have never heard of has built up 300 million bucks in profit! https://www.propublica.org/article/the-nonprofit-college-that-spends-more-on-marketing-than-financial-aid |
Anonymous
We should bail out neither. "We" is the tazpayer. |
Anonymous
I don’t think most people attend CC with the goal to “graduate.” The goal is to take a class or two at a time for some particular purpose or to transfer. |
Anonymous
| The uncomfortable truth is that most HBCUs are financially insolvent, have low enrollment, low standardized test scores and low graduation rates. There is a public HBCU located 5 miles from the state university I attended. The one I attended is one of the only solvent ones in the state, and it, along with others, are propping up this HBCU that really ought to be absorbed by my alma mater. |