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Or, it serves as an appropriate barrier to prevent people from scamming prospective students out of huge sums of money.
by zacharycohn 7y ago
Or, it serves as an appropriate barrier to prevent people from scamming prospective students out of huge sums of money.
- dlhavema 7y agoYou need a happy medium here. You don't want to allow scammers of course, but also don't want to overly protect the incumbents so no one else can disrupt the space.
- 4ntonius8lock 7y agoThe happy medium is the have enforcement mechanisms of the tends of thousands of existing regulations that would put a scam business out of existence if a DA choose to. The fact of the matter is that to protect people... you need to have a system where ordinary people can complain, and companies get taken to task. 99% of preventative/reporting regulation is just cronyism.
- merpnderp 7y agoWe may wish regulations were for a different reason, but this is certainly their most common use case.
- anonymous5133 7y agoCouldn't that be dealt with in a private court?
- jacquesm 7y agoSure: https://edition.cnn.com/2018/04/10/politics/trump-university-settlement-finalized-trnd/index.html https://edition.cnn.com/2018/04/10/politics/trump-university...
- jstanley 7y agoExcept, it doesn't, because if you're scamming people out of huge sums of money you don't give a shit if you're registered with the regulators.
- paulgb 7y agoYou do if you want the scam to keep going. See Corinthian Colleges, for example. (Or Trump University's recent settlement, for a more recent example.) https://en.m.wikipedia.org/wiki/Corinthian_Colleges https://en.m.wikipedia.org/wiki/Corinthian_Colleges
- joncrane 7y agoHave you ever heard of a company called Wells Fargo?
- fuzz4lyfe 7y agoLooking at student loan debt it appears that it was unsuccessful
- philwelch 7y agoPrevent other people from scamming students out of money.
- penagwin 7y agoRight but it'd be worse if you had the student loan debt AND don't get a degree (or at least a reputable one) because it's a scam.
- komali2 7y agoI mean, is a university education not a sort of scam? They are giving people degrees that cost far too much to justify the kind of job you'll get coming out.
- penagwin 7y ago> I mean, is a university education not a sort of scam? Whether or not "college education" in general is "a scam" can be debated for sure. But we aren't talking about "college education" - imagine paying for "college education" but it's a scam so you end up with less money and no education.
- JasonFruit 7y agoI think komali2 was saying that's what happens right now — you end up with less than no money and no meaningful education.
- TeMPOraL 7y agoIt might be - especially in the US, where you have to pay for it (or go into debt); but it could be worse, and likely worse scams were run in the past until they were stamped out by regulation.