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Simple. No other scam victims get reimbursed by the government.
There's nothing special about this scam or that scam.
They're all scams.
But we're paying for this one.
It makes no sense.
Simple, it was an election promise, it bought him a few votes... and it was one of the few promises he can at least say, he kept (partially) his promise..
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?
Did you read the quote that you pulled from the article??
bringing the total amount of canceled student loan debt by the Biden administration to $1.5 billion.
Did you read the quote that you pulled from the article??
bringing the total amount of canceled student loan debt by the Biden administration to $1.5 billion.
Yes, I did. It did not state where the other loan forgiveness came from, so I cannot comment on that.
Again..... forgiving fraud victims of debt I support.
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every college is for profit. Why do you think the entire college system is over-priced? Its because the government got involved and ruined it.
not to mention that these colleges will purposely use prejudice practices to make sure the ideal student gets in. The fact that they change the required testing scores of students based on gender or race should have had these schools shut down for violating the first amendment.
Quote:
Originally Posted by crone
I wish it would be the schools who committed the fraud getting stiffed instead of the taxpayers.
Oh no, that is never going to happen. These school administrators are doing exactly what they were ordered to do by the top elite and the most powerful politicians and judges in the country. They hand select the types of students to be enrolled and then they go on to become prosecuting attorneys, judges and other politicians to keep the same gravy train rolling for the super elite. So these schools, much like the top churches in the world, are well protected by a mountain of red tape and legislation that will make it near impossible to come even close to investigating and prosecuting these people.
Again..... forgiving fraud victims of debt I support.
Why? That's what courts are for or, if people were just greedy/stupid/careless enough to fall for (be complicit in) fraud,it should be a 'suck it up' situation. Why should taxpayers pay.
Your example of a credit card forgiveness does not involve government reimbursement.
Not just Columbia and NYU,it is easy to get up a law school,the initial capital outlay is a law library,there are too many lawyers already.
But then in 2008,those who cant find jobs go back to school,so they can eat and have roof over their head.
THE reason why Columbia Univ graduates manage to borrow so much is that there is no cap for graduate students,thats why they end up with 6 figures student loan,and me think they know they are borrowing too much and they know once they graduate they wont be making much,it is not like they will soon become the next Spielberg or MArlon Brando?
Why? That's what courts are for or, if people were just greedy/stupid/careless enough to fall for (be complicit in) fraud,it should be a 'suck it up' situation. Why should taxpayers pay.
Your example of a credit card forgiveness does not involve government reimbursement.
They were government approved colleges. You don't think people should be able to rely on that?
Obviously, the system needs to be reviewed, as it didn't work and cost a lot of money, but if the colleges fooled the government, then why would you expect the public to be even smarter and know there was a problem?
My savings is FDIC insured, and that is an guarantee and accreditation by the federal government.
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In fact by approving the student loans to attend these fraudulent colleges, the government effectively gave approval and legitimacy to them. Students trusted the government, thinking why would they approve the loan if the school's not legit?
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