- - - Doing right is even harder than it looks.
35% of the people on the Forbes 500 did not finish college.
Ironically, 35% is about the default rate of four year college loans.
The College Conspiracy is driven by institutions that know what they can get by on;
but also know what they can get from a gullible public.
What drives the price of college education?
Allen Collinge the author of the Student Loan Scam the Most Oppressive Debt in U.S. History.
The Wall Street Journal reports that credit card debt has been surpassed by student loan debt.
College loan debt is oppressive.
the price of a college education has risen at about twice the rate of inflation
for the past 30 years.
The rapid rise of the cost of college tuition began with Richard Nixon's Administration.
In 1968 tuition in a decent four year state supported institution could be had
for $200 by 1971 the cost of tuition in the same college had risen to $300.
Every couple of years
Congress will decide to allow the the loan limit to increase.
As soon as congress raises the loan limits the colleges will figure a way to
raise their prices to exactly match the loan limits.
Student loan advocates and the Dept. of Education have failed to look out for the
public good. The DOE should have said that 1 out of 3 loans default. Student Loan default
is higher than any other loans instrument.
The DOE lies to the congress year after year. The Department of Education uses a unique and disingenuous formula to determine the default rate. If DOE was a private business its administrators would have been jailed for fraud decades ago. DOE says the default rate is very low with a default rate of only a few percentage points. The actual default rate in closer to 35% which is higher than any other loan instrument.
There are no consumer protections for student loans.
State usury laws, bankruptcy laws, statute of limitations, truth in lending laws are all missing
in regards to student loans.
The DOE makes more money when students fail to keep up payments and go into default.
DOE is making 22% profit on what they pay out for student loans.
Some colleges will find ways to default the loan without the students knowledge.
In default the loans will double, triple, quadruple or even quintuple the amount of the loan owed with penalties and fees.
Congressmen are typically of no help. If you do contact your congressman he will typically send you
over to the Student Loan Ombudsman's Office. Sadly, the Ombudsman's Office is paid by the Student Loan originators.
The Student Loan Ombudsman Office gets its funding from the Student Loan Office.
Nationwide only 200 people of whom less than 8 get their student loans discharged in bankruptcy.
Congress must return bankruptcy protections to student loans. This single action would alleviate if not end most of the abuses practiced by the Department of Education.
The cost of colleges is way to high.
Field Fellowship people under the age of 20 can apply.
The links below gives additional information on the Student Loan Scam.
http://studentloanjustice.org/
http://www.usatoday.com/money/economy/2011-05-02-feds-sue-over-student-loans_n.htm
35% of the people on the Forbes 500 did not finish college.
Ironically, 35% is about the default rate of four year college loans.
The College Conspiracy is driven by institutions that know what they can get by on;
but also know what they can get from a gullible public.
What drives the price of college education?
Allen Collinge the author of the Student Loan Scam the Most Oppressive Debt in U.S. History.
The Wall Street Journal reports that credit card debt has been surpassed by student loan debt.
College loan debt is oppressive.
the price of a college education has risen at about twice the rate of inflation
for the past 30 years.
The rapid rise of the cost of college tuition began with Richard Nixon's Administration.
In 1968 tuition in a decent four year state supported institution could be had
for $200 by 1971 the cost of tuition in the same college had risen to $300.
Every couple of years
Congress will decide to allow the the loan limit to increase.
As soon as congress raises the loan limits the colleges will figure a way to
raise their prices to exactly match the loan limits.
Student loan advocates and the Dept. of Education have failed to look out for the
public good. The DOE should have said that 1 out of 3 loans default. Student Loan default
is higher than any other loans instrument.
The DOE lies to the congress year after year. The Department of Education uses a unique and disingenuous formula to determine the default rate. If DOE was a private business its administrators would have been jailed for fraud decades ago. DOE says the default rate is very low with a default rate of only a few percentage points. The actual default rate in closer to 35% which is higher than any other loan instrument.
There are no consumer protections for student loans.
State usury laws, bankruptcy laws, statute of limitations, truth in lending laws are all missing
in regards to student loans.
The DOE makes more money when students fail to keep up payments and go into default.
DOE is making 22% profit on what they pay out for student loans.
Some colleges will find ways to default the loan without the students knowledge.
In default the loans will double, triple, quadruple or even quintuple the amount of the loan owed with penalties and fees.
Congressmen are typically of no help. If you do contact your congressman he will typically send you
over to the Student Loan Ombudsman's Office. Sadly, the Ombudsman's Office is paid by the Student Loan originators.
The Student Loan Ombudsman Office gets its funding from the Student Loan Office.
Nationwide only 200 people of whom less than 8 get their student loans discharged in bankruptcy.
Congress must return bankruptcy protections to student loans. This single action would alleviate if not end most of the abuses practiced by the Department of Education.
The cost of colleges is way to high.
Field Fellowship people under the age of 20 can apply.
The links below gives additional information on the Student Loan Scam.
http://studentloanjustice.org/
http://www.usatoday.com/money/economy/2011-05-02-feds-sue-over-student-loans_n.htm
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