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This is simply untrue. They do care. For institutions with high default rates (greater than 30%), they risk missing out on the federal student loans (imo gravy

by vxxzy 7y ago

This is simply untrue. They do care. For institutions with high default rates (greater than 30%), they risk missing out on the federal student loans (imo gravy train). [0]. It appears that this time around, a good number of technical/trade related institutions lost out. [0] [0]: https://www.ed.gov/news/press-releases/national-federal-student-loan-cohort-default-rate-continues-decline https://www.ed.gov/news/press-releases/national-federal-stud...

turk73 7y ago
Ugh, no they don't! The banksters got them wired in to the con and they are enjoying all the fruits of the tainted system. What do you think fueled the massive construction boom on all these campuses? I mean, UNC alone constructed an obscene amount of new buildings and that's a "state" University. The amount of money flowing is obscene. As usual, the little people are the ones being harmed. My daughter is three years from college and I frankly don't know what to even think of all this nonsense. I have a PhD, I value higher education, or at least, I want to value higher education, but it's become such a farce. I might better take that $300K or whatever and buy a small business for her to own and operate. I don't want her to be a government employee, we have more than enough of those, I don't want her in software development, I don't care if she goes into medicine with how screwed up healthcare is. What else is there? Law? No... And the other thing is, I have two kids and will not qualify for anything except loans, but we aren't rich by any stretch. Something has to give, education is valuable, but not some end all be all. We have plenty of "educated" imbeciles running our government right now.
linuxftw 7y ago
No. They've completely gamed the system, so technically most people aren't 'defaulting' they're just paying almost nothing, forever [1]. 1: https://studentaid.ed.gov/sa/repay-loans/understand/plans/income-driven https://studentaid.ed.gov/sa/repay-loans/understand/plans/in...
nostromo 7y ago
30%! If a bank had a 30% default rate on mortgages they’d immediately cease to be a bank.

by vxxzy 7y ago

turk73 7y ago

Ugh, no they don't! The banksters got them wired in to the con and they are enjoying all the fruits of the tainted system. What do you think fueled the massive construction boom on all these campuses? I mean, UNC alone constructed an obscene amount of new buildings and that's a "state" University. The amount of money flowing is obscene. As usual, the little people are the ones being harmed. My daughter is three years from college and I frankly don't know what to even think of all this nonsense. I have a PhD, I value higher education, or at least, I want to value higher education, but it's become such a farce. I might better take that $300K or whatever and buy a small business for her to own and operate. I don't want her to be a government employee, we have more than enough of those, I don't want her in software development, I don't care if she goes into medicine with how screwed up healthcare is. What else is there? Law? No... And the other thing is, I have two kids and will not qualify for anything except loans, but we aren't rich by any stretch. Something has to give, education is valuable, but not some end all be all. We have plenty of "educated" imbeciles running our government right now.

linuxftw 7y ago

No. They've completely gamed the system, so technically most people aren't 'defaulting' they're just paying almost nothing, forever [1]. 1: https://studentaid.ed.gov/sa/repay-loans/understand/plans/income-driven https://studentaid.ed.gov/sa/repay-loans/understand/plans/in...

nostromo 7y ago

30%! If a bank had a 30% default rate on mortgages they’d immediately cease to be a bank.