It’s way past time for some enterprising lawyers to craft a class action suit claiming fraud in inducement of students to take out these loans. The colleges have access to information about the earning potential of graduates with various types of degrees and grades, and yet still actively encourage students to use loans to fund essentially worthless educations, and to continue through a 4 year program even while earning below average grades in a major which doesn’t even provide decent earning potential for graduates with 4.0 GPAs.
In many cases, one could argue that the students should know better, or that their parents should know better. But for students whose parents never attended any sort of college, that’s unrealistic. And students whose parents are deemed incapable of providing significant financial support towards college costs, are simply cut out of the process — the students don’t need their parents agreement to take out $100,000+ in loans and use it to major in something totally worthless at a third rate college.
That lawsuit might have a chance.
>>It’s way past time for some enterprising lawyers to craft a class action suit claiming fraud in inducement of students to take out these loans.<<
Where the heck did I logon to today? Bizarro-FR??
Just who in the heck is the “inducer?” The student applied to the college, applied for the loans, went of their own accord and kept signing loan documents! What was the fraud? I know I was never promised a job as a result of college — I personally assumed that it would increase my CHANCES of getting a BETTER job.
Or did gray matter just disappear in a few generations?