So what is the solution here? Make taxpayers foot the bill for the social costs incurred by awful colleges? Once you make that decision, then the line drawn in the sand about what an 'awful college' is and which costs the colleges and students alike can expect taxpayers to be liable for is going to shift over time. You're trading one enormous problem for another one.
She should have known that for-profit colleges are bullshit before signing her life away to one. Now she wants to have her cake and eat it too by refusing to pay her loans, while still deriving benefit from the supposedly worthless degree she got.
We need a better solution to higher education. But this isn't it. I'm glad she's raising awareness of this issue, but she and everyone else involved needs to pay back at least some of her loan. You can't just expect the government to absolve you of your bad decisions.
The other parties to the deal, namely the banks and schools, are far more culpable than the students. Let the banks and schools sue each other over the money owed. They are the ones that bought the laws and regulations than enable them to sell duff diplomas and finance those duff diplomas.
The school does not exist anymore. There is no one to sue and the money is gone, regardless. And if you pin it on the banks then either loans will get more expensive to account for the added risk of potentially having to foot the bill for bad schools or will stop lending altogether, making it harder for students to go to school.
Why should school loans be made by investor-owned banks? Don't tell me it's because the private sector is better suited at selecting against investor-owned schools. So, yeah, let the creditors take it in the pants.
Comments
So what is the solution here? Make taxpayers foot the bill for the social costs incurred by awful colleges? Once you make that decision, then the line drawn in the sand about what an 'awful college' is and which costs the colleges and students alike can expect taxpayers to be liable for is going to shift over time. You're trading one enormous problem for another one.
She should have known that for-profit colleges are bullshit before signing her life away to one. Now she wants to have her cake and eat it too by refusing to pay her loans, while still deriving benefit from the supposedly worthless degree she got.
We need a better solution to higher education. But this isn't it. I'm glad she's raising awareness of this issue, but she and everyone else involved needs to pay back at least some of her loan. You can't just expect the government to absolve you of your bad decisions.
The other parties to the deal, namely the banks and schools, are far more culpable than the students. Let the banks and schools sue each other over the money owed. They are the ones that bought the laws and regulations than enable them to sell duff diplomas and finance those duff diplomas.
The school does not exist anymore. There is no one to sue and the money is gone, regardless. And if you pin it on the banks then either loans will get more expensive to account for the added risk of potentially having to foot the bill for bad schools or will stop lending altogether, making it harder for students to go to school.
Why should school loans be made by investor-owned banks? Don't tell me it's because the private sector is better suited at selecting against investor-owned schools. So, yeah, let the creditors take it in the pants.