Reply to Financially hobbled for life- elite masters degree that don’t pay off

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Totally agree with pp who said Columbia is a bad actor here. It is crazy that they are allowed to do this. Where is Elizabeth Warren.[/quote]

It's actually the government's fault. They backed these crazy loans that are essentially sub-prime loan-holders and the Universities just lined up to line their pockets with the proceeds. The students were the bag-holders. Meanwhile the economy is now also a bag-holder because all these young people are off to a slow start which ultimately places a drag on the economy. The government charged ridiculous interest rates on these sub-prime loans and has made a lot of money off of them. The loans should not necessarily be forgiven, but the interest should be forgiven and suspended indefinitely. The loans were made unscrupulously. Many more people would be out of debt if not for the interest.[/quote]
Agree government policies are also to blame. But have universities lobbied for those policies? I don't know but they do benefit from them [/quote]

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