
Thousands Apply to US to Forgive Their Student Loan Saying School Defrauded Them - T-A
http://www.wsj.com/articles/thousands-apply-to-u-s-to-forgive-their-student-loans-saying-schools-defrauded-them-1453285800
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ourmandave
Back in April 2015 Corinthian Colleges was fined $30 million for

    
    
      ...falsifying job placement records, lying about graduation rates and steering students into high-cost loans dating back...
    

[https://www.washingtonpost.com/news/wonk/wp/2015/04/15/how-a...](https://www.washingtonpost.com/news/wonk/wp/2015/04/15/how-a-30-million-
fine-against-a-for-profit-college-could-be-a-win-for-students/)

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NTDF9
We are back to medieval times!

Seriously? Everyone gets a loan even if they don't understand what it means to
get onto such a debt? What a predatory system!

I'm so glad I graduated already. Sucks for my kids though. They have no option
BUT to take the loan because EVERYONE will have a college degree in their time
and all jobs will set that as baseline requirement.

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wesleyfsmith
From the evidence I've read, it does sound like a lot of these colleges are
promising jobs and pushing students into extremely expensive loans in a
predatory fashion. I just hope that ultimately these schools have to foot the
bill and not the taxpayers for these schools' mistakes.

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bobby_9x
"Americans are flooding the government with appeals to have their student
loans forgiven on the grounds that schools deceived them with false promises
of a well-paying career—part of a growing protest against years of surging
college costs."

I've never seen a university that promised a guaranteed job or career. It has
always been a risk and it's ludicrous that students would attempt to make this
case.

Have we sunk this low with personal responsibility? This victim mentality
needs to stop if we are going to progress as a society.

I think the problem I have is that not only do some students major in things
like medieval history (which will not likely get you a well-paying job, let
alone a career), but many think that just getting a piece of paper will get
you a job.

It might help you get your foot in the door, but you still need to put the
work into it.

College isn't for everyone. Some people would be better suited with a trade.

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x5n1
What we need to do is stop subsidizing schools with loans that you can not
default on, or get rid of through bankruptcy. Personal responsibility starts
with the lender. When lenders know that they are not guaranteed a return, they
will be more careful about who they give loans to, for what degree, and for
how much. Which will then lead to lowering of tuition costs to reflect the
economic value of the degree and the program.

The microcosm of excessively priced degrees has much to do with the rules of
the system more than the choice of the student. 17 and 18 year olds are not
developed enough to understand what they are getting themselves in to. The
bankers who lend them and the schools which entice them know exactly what they
doing. They have a lot of resources at their disposal to do so. 17 and 18
years olds might have a mom or dad who may be semi-literate in these things.

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horsecaptin
Founders of startups should think about applying, at least, until the job
turns into a well-paying one.

