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Every student's loans to these slimy operators should be simply struck off with no penalty.
by JulianMorrison 10y ago
Every student's loans to these slimy operators should be simply struck off with no penalty.
- qaq 10y agoWhy should avg. taxpayer take on this burden?
- miiiiiike 10y agoBecause the federal government allowed ITT to participate in the student aid programs.
- johnward 10y agoThe government approved loans to the school. They carry some of the burden. They should be taking every asset from ITT first but I know that they will have none somehow and the execs will walk away with multiple millions. Disclaimer: attended ITT and paid off the fed loan. Still paying on a parent plus that I doubt would qualify for forgiveness.
- warmblood 10y agoBecause the burden on your (so-called) average taxpayer of having a stagnant, debt-crippled workforce is greater and worse to bear in the long term.
- clarkmoody 10y agoBut let's not make those taxpayers foot the exploding costs of tuition caused by access to so much easy money.
- warmblood 10y agoThis is a mostly incoherent comment; enough so that I can only read into it what your profile statement gives away about your inclinations.
- slfnflctd 10y agoBetter question: Why shouldn't they? These are almost all going to be, by definition, disadvantaged people who have been lied to and defrauded. Yes, they 'chose' to do this, but the staggering amount of misleading advertising (and the worst kinds of sleazy-salesman lies & emotional manipulation of the vulnerable) leaves plenty of doubt as to how much of a choice they had. I see very little difference between helping these people and helping storm victims. Nearly all for-profit education (that made a profit, anyway) is an ugly disaster and should never have been allowed to go on so long. The government actually did something right here for once.
- douche 10y agoIf you're going that route, strip every asset ITT owns, auction it off, and distribute the proceeds to students.
- JoeAltmaier 10y agoWhich amounts to some rented buildings, some tables and chairs, and ...
- sqeaky 10y agoThat and seek damage from the people who orchestrated the defrauding. This was a "for profit" institution, follow the profit to the CEO and others.
- qaq 10y agoBecause it's hard to draw the line, how do you disincentivize undesired behaviour if you pick up the tab for any stupid thing anyone does?
- JulianMorrison 10y agoOne, an excessive focus on trying to "disincentivize undesired behaviour" is pretty creepy and controlling. Two, this is not a matter of poor life decisions, this is a matter of fraud. Three, even if people are impoverished by stupidity, you're either gonna pick up the tab to some extent or literally watch them die of destitution on the street. It appals me sometimes how often America treats this like it was a choice.
- JulianMorrison 10y agoFuck the word taxpayer, it's a lie hiding in a literalism. It pretends that people are paying for some service and they could stop. No. Society, as individuals on behalf of the whole, has responsibilities. One of those is to pick up the tab when people's lives have been ruined through no fault of their own. The whole "small government" thing has just been people blowing off their responsibilities.
- qaq 10y agoWhere do you draw the line? A lot of people make stupid choices do we pick up the tab for any stupid decision anyone makes?
- JulianMorrison 10y agoThere's a difference between a stupid decision and being defrauded. A debt incurred as a result of fraud should simply be null and void. Probably the best way to do this is to make it the fraudster's debt, and not the victim's.
- qaq 10y agoNone would argue with second part. I would say not doing a google search before spending 10k+ is closer to stupid action .
- johnward 10y agoI don't think you understand how these schools sell their "education" to people who are ignorant of higher education. They literally targeted people who don't know any better and promise that they will make $75k out the gate.
- qaq 10y agoThat is immoral such as all fraud is, but we do not compensate victims of bank fraud, medical fraud, ponzi schemes the list is infinite.