If you've lost money to a scam, call Biden (lawyer, dollar, elect)

[Roboteer]

Biden Cancels 55.6 million in student debt


What does "cancels" mean?

Did the people who lent them the money and trusted them to eventually pay it back, simply lose it all by executive fiat?

Or did the responsibility for paying it back, simply shift from the students to the taxpayers?

[old_cold]

We would hope the government will prosecute.
And try to collect the (some of) the money back but you know how that goes.

[PullMyFinger]

“Targeted loan cancellation”

I can already see where this will be going.

[Chowhound]

Originally Posted by old_cold

We would hope the government will prosecute.
And try to collect the (some of) the money back but you know how that goes.

The IRS is the most efficient division of the US government.

[yspobo]

Originally Posted by mojo101

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?

There's definitely a cap on student loans for graduate students. I was already past my cap for college when I started graduate school. I had to file paperwork for an exemption every term to get the semester paid for.

[Jimmyp25]

Originally Posted by 12-stringer

Are you intentionally trying to be misleading, Jimmy? Well, intentional or not, you ARE misleading. You left out a pretty important part of this student debt cancellation, as Mikala pointed out.

"The Department of Education canceled an additional $55.6 million in student loan debt for 1,800 students who were victims of a for-profit college fraud...

And yet you then doubled down in an attempt to justify being misleading? Just wow. I wonder where you learned that doubling down comeback....

I simply used the same exact title as the article. Blame yahoo for click bait.

[Mikala43]

Originally Posted by Jimmyp25

I simply used the same exact title as the article. Blame yahoo for click bait.

The title was fine. Your comment was incorrect.

[yspobo]

Originally Posted by DrPibbs

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?

Right.

When I got scammed by those people years ago over the mobile home, the woman who was running the park was buddies with government officials and owned property and businesses all over the county. That made it seem legit. Then I found out that the people didn't legally own the home. I lost thousands of dollars and the prosecutor, who was friends with her, laughed and said "oh well, buyer beware." The fact that I was scammed was just another thing that the government used against me to keep my child from me and was used to say I was mentally ill. The government helped me to be scammed and used it against me.

People expect that the government will know if something is a scam or not.

[emm74]

Originally Posted by swagger

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, perhaps. Correct, no. There are all kinds of victim restitution programs on the local, state and federal levels.

[MikeNigh]

Originally Posted by swagger

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.

10th amendment bare minimal should have these human rights violations, government controlled indoctrination and economically snuffing out independent education, at a state level.