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It should be noted that Professor Cole is a direct beneficiary of the aggressive student loan collection practices. This story reads like something out of a "Ta
by greendata 13y ago
It should be noted that Professor Cole is a direct beneficiary of the aggressive student loan collection practices. This story reads like something out of a "Tale of Two Cities". I wonder if the ending will be similar.
- slapshot 13y agoFor what it's worth, you're right but not for the reason you expect. Marcus Cole is well known for having grown up in a Pittsburgh housing project (Terrace Village) and having absolutely zero parental support for his college education. He is the type of person who would be the first to be denied a loan if it were possible to do so. He's also fond of pointing out that medical students started this problem when a number of them declared bankruptcy right as they graduated med school and just before entering lucrative fields. Source (among others) last page of: http://www.judiciary.senate.gov/pdf/12-3-20ColeTestimony.pdf http://www.judiciary.senate.gov/pdf/12-3-20ColeTestimony.pdf
- greendata 13y agoHe's currently paid a salary from his university, so yes he and his employer are very benefiting from the federal student loan programs and subsidies. I don't see how the fact he grew up Pittsburgh and received forms of government assistance is relevant. Good for him but the income of his employer is heavily subsidized by student loans.