> (a), a very significant cause here, which no one has yet
> discussed, is so-called commercial educational institutions of the type which
> advertise on low cost television stations at 1 AM in the morning -- the de
> Vrys of the world -- which sucker all sort of already impoverished young
> people into their institutions, with financing based entirely on federally
> guaranteed loans they obtain for these students. These students almost never
> graduate, much less graduate with a marketable skill, and they are left with
> loans they can not afford to pay off, and nothing to show for them. If my
> memory serves me correctly, studies have shown that very large portions of
> student loan defaults come disproportionately from a small number of these
> institutions, but very little is done about it, as these same institutions
> have significant lobbying operations in Washington, DC. This is
> reprehensible, both from the point of view of the individual student, who
> ends up worse than s/he began, not only poor but in serious debt, and from
> the point of the community, which finances those loans through taxes and is
> being ripped off by these institutions.
>
All too true. As I think of it, I've met a great number of people ripped off by this.
Christopher Rhoades Dÿkema
LeoCasey at aol.com wrote:
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