Posted on 01/19/2017 10:11:47 AM PST by SeekAndFind
:-)
Anyone is eligible for federal loans. There are a few need based loans but the majority are available to all.
The real issue isn’t defaults per se - federal loans generate revenue for the federal government so taxpayer isn’t plaything anything - it’s that the loans haven’t made college more affordable, it just results in universities upping tuition and using the loan revenue to make large capital expenditures. That’s why college has got pricier than price of inflation for so long. Best thing to do is to impose cost controls on schools who want to receive federal aid funds.
The money is from US tax revenue
problem resulted from a “technical programming error.”
Another Obama Administration non-scandal.
And that has to go. No more federal funds and the college’s have to eat the losses.
It also means that the US taxpayer will be on the hook for hundreds of billions in government-funded loans
Hmmm, Shouldn’t the Liability be on the SCHOOLS that Profited from the bogus loans?
Attention Congress, you can fix this.
Right, what’s the ruse to get through school in 4 years?
Why not WORK and take a little longer? When you graduate then you have some work experience.
Then you are inviting federal control and bureaucracy into the school. Let the school compete for the students dollar without restriction. No govt mandates, and let parents and students decide if a school is worth the solicited cost. When schools see that people wont pay for crap classes or social programs, they will change or die.
The ONLY justifiable motivation for govt interest in education is to ensure we have a well enough educated work for to provide for our national defense needs (scientists, mathematicians, doctors, etc).
It’s not that. It’s the economics behind it. Tuition is too expensive, it needs to have the free money spigot cut off because nobody will ever cut costs without forcing the issue.
College’s love the party mentality that’s causing superseniors. They can hook them on for more debt.
The bubble has to burst and they never do until the money dries up.
And that would make people able to work their way through college even easier with lower costs.
Fake Data .... good term.
Well if you think about it we need lots of FAKE DATA so that the FAKE NEWS people have something to report on.
Most colleges and universities are relying on as many low-paid, part-time faculty as they can.
It's the administrators whose numbers and salaries have bloated astronomically over the past 25 years: that's where almost all the tuition increases are going.
Blame the massive defaults on Trump. That’s probably what’s going to happen.
Yeah, they’re going to suddenly find all these defaults, right along with the soaring homeless numbers and massive numbers of people not working. It’s going to be amazing, they will materialize out of the ether.
The government certainly has motive to hide the figures; it props up the education industry (pseudo-economy), and can’t have young Americans balk at providing cushy lifestyles for those employed in academia.
Here in NJ they seem to have given up on American students, and are just airlifting in Asians to replace them.
My son payed his back with his signing bonus and gave the rest of his bonus to us to cover our side of the loan. His older sister is holding down 2 part-time jobs (thanks Obamacare) and will need another 10 years, or, on the other hand, just a few after Obamacare is repealed.
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