Government to Forgive Student Loans at Corinthian Colleges

Parents Forum
81

@ 77,

I can’t tell if you are serious or not either, Demo. You have a great career in comedy waiting though if you ever need it. Especially when you write things like this:

I see no justifiable reason that we taxpayers shouldn’t have to bear the brunt of the college programs we created.

You don’t? You don’t see any reason to allow a small segment to not pay back back what they borrowed, leaving the taxpayers not recuperated, meaning your kids or grandkids can pick up the tab, plus interest later, so that a few people can pay 17 times what a commodity is worth?

You do realize it just adds to the federal and you do realize we eventually have to pay that debt back, right? You are aware of that, correct? You do realize the federal debt is up to … what … 20T or something ridiculous and even to balance the annual budget we have to borrow from other countries. But your cool with all that. right?

And can we stop with the Corinthian students didn’t have any other choices? The internet. Online classes. The same concept of how this message board works. They could have taken online classes from anywhere but they chose to run up a bill at Corinthian and then claim fraud and helplessness later.

I love how some of you spin this into a tale general students going into debt since you can’t possibly justify the poor decisions of the C students. Even then, I thought it was obvious Demo, the students might not be able to start saving early but the parents and grandparents can as soon as the child is born with 529 plans. Saving all along, cutting costs by going to a CC, getting the student to get scholarships and/or work-study opportunities, are all viable options for those with common sense and will significantly mitigate the costs of college. Whatever is left can be borrowed but it won’t create enough debt to cripple anyone.

Good old fashioned common sense never goes out of style. Meanwhile, we really do need to fix the FA system so that college costs aren’t artificially inflated by government policy. Don’t hold your breath. Common sense and government policy rarely go hand in hand.

82

I 100% agree that all loans must be repaid by the borrower. All students receive loan counseling to inform them of this fact. Stupidity is no more a factor here than it is with a home mortgage. The difference is that the house is collateral and can be foreclosed.

Part of the difficulty with these loans is that “We the People” approved CorinthianColleges to distribute loans and federal aid. We also let it continue for years…so, we do bear some responsibility.

I witnessed CC’s practices on my non-traditional community college students. During the last ten years, 6-7 of my students, all taking remedial math classes in the evening, changed from a junior college setting to Corinthian. I counseled each one of them to no avail. CC even recruited nursing students, when they did not then have any active affiliations with the local hospitals. How on earth were the students going to do their practicals? As part of the lure, CC told ALL of these not-college-ready students that they did not need the remedial math or writing courses. Instead, they could jump right into College Algebra and Comm 1. A CC instructor there verified that students then fail these accelerated-pace classes multiple times and drop-out. Only one of my students returned to community college, but he also relayed these experiences.

As an aside, community colleges also have a low rate of degree attainment (in a given year, 10% of population achieves a certificate/degree.) However, only 19% of those students receive a Federal Loan.