Posted on 05/02/2024 11:56:22 AM PDT by RicocheT
The Biden administration announced that it would forgive more than $6.1 billion in student debt for 317,000 former students of The Art Institutes, the once-giant chain of for-profit schools.
The U.S. Department of Education concluded that the schools and its parent company, the Education Management Corp., or EDMC, made “pervasive and substantial” misrepresentations to prospective students about post-graduation employment rates, salaries and career services.
Eligible borrowers will get the forgiveness automatically, whether or not they went through the formal process for loan relief for defrauded borrowers.
(Excerpt) Read more at cnbc.com ...
Aww c'mon, it's for a good cause... To buy Biden votes.
/s
My own college had a “career center” that didn’t do sh*t to help me get a job after I graduated. Can I get MY loans forgiven? Oh wait...I didn’t take any loans, I worked 3 jobs to pay each credit in full. Guess I was a sucker.
There is no forgiven debt. The costs are just passed over to tax payers. The Feds have no money, only taxation.
Biden just single-handedly passed a $6.1B tax hike.
Must be nice to have unlimited power.
Former art majors ==> stay at home wives and starbucks baristas
Complete lawless use of the public trust! Now my taxes are paying for a war in Ukraine nobody wants or needs that is already lost unless Biden or Europe wants to start World War 3. How much are my taxes paying for all 20 million illegals Biden let in. This is all freaking nuts and a bad nightmare.
“Blatant vote buying. With other people’s money!”
In this case it’s art school students, so I’m going to go out on a limb and say 90% of them were voting Dem or not voting at all, before the debt forgiveness!
I believe you, this was fraud and the company is liable. Now what does any of this have to do with the tax payers, nothing.
It the government wants to civilly go after the company and reimburse the students with the judgment I'm all for it.
But for the government to reimburse the students implicitly implies that the government was in on the fraud from the start and shares liability. If that's the case them someone in the government is responsible and needs to be accountable.
$6.1 billion will add to the inflation. Buy as much gold as you can.
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