<p>It's all the people using private loans to pay their EFC that will be hurt most. According to an article I read today that's a lot of folks.</p>
<p>nocousin, I agree with your assessment re:middle class kids. I just think the aura of a top ten school simply deludes MANY people from making smart choices. This conversation will get very interesting around April.</p>
<p>Maximus: I concur. We suffer from "prestige" narcissism in this country. When in fact a PhD from any state school is just as strong as it is from a lot of prestigious schools. </p>
<p>All those HIGH AND MIGHTY Ivy Leaguers who ended up on wallstreet have got egg on their faces (and maybe their pink slips) for all the shenanigans we have seen over the last 20 years: Worldcom, Enron, Dot.com fraud, Michael Milken Junk Bonds, now Mortgage backed securities/derivative fraud schemes. If they were honest brokers, then where were they when they handed out the ETHICS cards? Who stood up and said "NO! I wont do this! This is WRONG!" Nobody. They all took their money and ran.</p>
<p>So prestige has lost a great deal of luster in the past week, it seems to me. ( The Politicians never had a good reputation, so they lost nothing...just reaffirmed our view of them).</p>