I don’t see any crime. Nobody is forcing these kids, most of whom spend their first 3 semesters in “catch-up” courses, to take out these loans.
It should be a CRIME.
Colleges and universities feel they have a BLANK CHECK because anyone with an IQ above 11 can get into some sort of “college.” They can afford it because government will provide them with more than enough taxpayer money to go — grants and loans.
A lot of these folks shouldn’t be attending college. They are lured there with the false promise of a better future. COLLEGE IS A BIG BUSINE$$.
Politicians aren’t going to cut funds for students. It would be too costly for them so colleges and universities will continue to go up every year regardless if they need it or not.
Also, there are a lot of fraud schools that are more than happy to take taxpayer money from the sucker that signed up for the “online university” scam degree.
Most kids would be better off going to trade school learning a vocation they can get a job with.
I’ve got two sons in college.
One is the product of a liberal undergrad education, has spent the last 6 years studying all over the world, can’t find a job because he has a worthless Masters degree in cultural studies, and is hundreds of thousands of dollars in debt because Sallie Mae has, since he was 19, continued year after year after year, to give him private student loans knowingly WITHOUT a required co-signer. His only chance at successful repayment may be to incur MORE debt by getting his Doctorate in a marketable field. On a positive note, at least he didn’t accept the untold number of credit cards that were thrown at him when he first entered school.
The other son who I never thought would go to college is now 27 and is attending Phoenix, on-line, for a bachelors in Criminal Justice. He will have only Stafford loans to re-pay, but after only one year of study has already begun working in his field.