Many colleges have an inherent conflict of interest. Paired with government encouraged easy loan money, they are steering students into a lifetime of debt, and the taxpayers are going to foot the bill. Think of it like this. If you wanted to get a business loan, you would need a sound business plan that shows the bank that getting paid back is pretty much a sure thing, or you will be shown the door pretty quick. But the student loan scam is this: the school offers a degree plan in a field where the student has a very low probability of finding a job that would allow them to support themselves and pay back their student loans. The schools are steering students into these dead end careers, and what do they care? They have no skin in the game, as long as the student signs up, they are guaranteed their money and can continue to support academic departments that perpetuate the scam. To sweeten the pot, the schools offer degree plans filled with elective courses that build no skills in areas that would further the student's professional career - film appreciation, studies of various minority cultures / lifestyles, etc. If the student can't pay back the loan, it's not coming out of the school's pocket! And the politicians of a particular party are salivating at the chance to "forgive" the student's debt and cement their relationship with the party that really cares for the little guy and sticks it to the evil capitalists. I have three tractors that were paid for with my engineering degree.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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