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What are you talking about, there is non-profit and "for profit", these "for profit" schools defrauded these students, the goverment as guarantor of these loans are telling the victims, dont worry about it we will settle with the schools, because as a student who got defrauded withholding payment is not an option since the loans are guaranteed by the fed.
This.
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canceled an additional $55.6 million in student loan debt for 1,800 students who were victims of a for-profit college fraud, bringing the total amount of canceled student loan debt by the Biden administration to $1.5 billion.
Victims of a scam were freed from the debt. How can you have problem with that?
Which our government willingly paid for without even verifying the veracity of the college.
No different than our government sending out checks to dead people even though they have the data to check against.
Which our government willingly paid for without even verifying the veracity of the college.
No different than our government sending out checks to dead people even though they have the data to check against.
I haven't seen any info on the situation that allowed the gov to pay, what turned out to be, fraudulent colleges, so I have no opinion on that aspect.
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Back in October, Trump included Student Loan Forgiveness within his proposed $1.8 million Stimulus pitch. His own party did not buy in. Subsequent, Trump asked the Senate for a clean stimulus bill granting $1500 to everyone. His party declined to play ball. Perhaps if they had, Trump might have been re-elected.
Corinthian Colleges was the largest for profit education scam. It filed for bankruptcy in 2015. In 2019, the SEC settled with the former principals for a pittance.
I haven't seen any info on the situation that allowed the gov to pay, what turned out to be, fraudulent colleges, so I have no opinion on that aspect.
Well now if you were doling out money wouldn't you verify who you were doling out to ?
Would any Tom, Dick or Harry asking for money get a check with no questions asked or credential verified ?
If our government didn't pay those matchbook schools then those people wouldn't have that huge debt.
Common sense...which our bloated government lost a long time ago.
Why ? Well it's not their money.
Which our government willingly paid for without even verifying the veracity of the college.
No different than our government sending out checks to dead people even though they have the data to check against.
Federal Student Loans are limited to accredited colleges. The Federal Government does not accredit schools and instead relies on independent regional bodies to do so. DOE has not held regional accreditation boards accountable.
Death records are maintained by 3,006 counties in the US. There are known communication issues between counties and states and Social Security.
canceled an additional $55.6 million in student loan debt for 1,800 students who were victims of a for-profit college fraud, bringing the total amount of canceled student loan debt by the Biden administration to $1.5 billion.
Victims of a scam were freed from the debt. How can you have problem with that?
Simple. No other scam victims get reimbursed by the government.
There's nothing special about this scam or that scam.
What are you talking about, there is non-profit and "for profit", these "for profit" schools defrauded these students, the goverment as guarantor of these loans are telling the victims, dont worry about it we will settle with the schools, because as a student who got defrauded withholding payment is not an option since the loans are guaranteed by the fed.
Columbia University and New York University use the same tactics as the so-called "for-profit" schools. They do not present realistic job prospects to students which causes students to run up huge debts that cannot be repaid. Many students finish their degrees with $300,000 in debt. Should this be forgiven? Are the students at Columbia University and NYU so stupid that they don't know the job market or are they so entranced with going to Columbia and NYU to study fine arts and film making? The students weren't defrauded - they were, and are, stupid about finance and the realities of life.
Why should you and I pay for their sabbatical from life's realities?
"Recent film program graduates of Columbia University who took out federal student loans had a median debt of $181,000. But two years after earning their master’s degrees, half of the borrowers were making less than $30,000 a year. The New York City university is among the world’s most prestigious schools, and its $11.3 billion endowment ranks it the nation’s eighth wealthiest private school. Columbia University President Lee Bollinger said the Education Department data in the Journal analysis can’t fully assess salary prospects because it covers only earnings and loan repayments two years after graduation. “Nevertheless,” he said, “this is not what we want it to be.”"
"At New York University, graduates with a master’s degree in publishing borrowed a median $116,000 and had an annual median income of $42,000 two years after the program, the data on recent borrowers show. At Northwestern University, half of those who earned degrees in speech-language pathology borrowed $148,000 or more, and the graduates had a median income of $60,000 two years later. Graduates of the University of Southern California’s marriage and family counseling program borrowed a median $124,000 and half earned $50,000 or less over the same period."
Well now if you were doling out money wouldn't you verify who you were doling out to ?
Would any Tom, Dick or Harry asking for money get a check with no questions asked or credential verified ?
If our government didn't pay those matchbook schools then those people wouldn't have that huge debt.
Common sense...which our bloated government lost a long time ago.
Why ? Well it's not their money.
I don't know that they don't. I wouldn't jump to conclusions, without full knowledge of the situation.
Middle-aged Mom (Mam, for short ) seems to be filling in some good information.
While I would need more information to address your points, the issue is the government releasing obligations to victims of fraud. THAT I am completely for.
It's like when my credit card doesn't make me pay for something fraudulent.
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Started a thread about it which saw little action, but can anyone give a single reason why the federal Department of Education should exist?
The only accomplishments it can claim is destroying the quality of education in our country and wasting untold billions of taxpayer money.
Is there a single metric which demonstrates any form of improvement in education as a result of this monstrosity?
Get rid of it. Completely.
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) seems to be filling in some good information.
