The Scam Of The Government’s Guarantees For Student Loans
January 16, 2011 by Guest Author
Filed under Student Loan Information
www.mslaw.edu The student loan companies have two deals from the government that violate market principles of risk and reward. Dean Lawrence R. Velvel interviews David Cay Johnston former investigative journalist for the New York Times on his book, Free Lunch How The Wealthiest Americans Enrich Themselves at Government Expense ( and Stick You with the Bill) TheMassachusetts School of Law also presents information on important current affairs to the general public in television and radio broadcasts, an intellectual journal, conferences, author appearances, blogs and books. For more information visit mslawledu. MSLAW podcasts are available on itunes (just search for mslaw) and at http MSLAW videos can also be found on Google.
A project by a group of journalism students about the concerns of students regarding student loans and debt. This video is an attempt to demystify and clarify some of the common misconceptions of the student loan process.
It’s not college that’s the scam, it’s the way it’s paid for. do you think the colleges are the ones getting those profits? They’re getting exactly their tuition costs and the corporations are seizing the rest.
College is a scam. Don’t do it. You will wind up owing $40,000 in debt.
Can you come to my school and tell them this?
I just saw the movie “The International”. In one scene somebody says that the purpose of banks is to burden you with debt. How true, whether it’s loaning dictators the money to buy AK-47’s or students the money to go to college.
@waverly2468
Most students receive financial aid, and when they do, they have to maintain full-time status as a student, even though, quite often, financial aid won’t pay for everything. So if students want at least some of their education paid for by the government, they can’t take one class at a time.
It’s a catch-22 that, I guess, a lot of people don’t realize or don’t think about.
These students are taking a HUGE risk. Many financial writers are saying DON’T borrow money to go to college. It’s like borrowing money from Al Capone. If you default on a federal loan (or any student loan) you will be hounded for the rest of your life. You CANNOT declare bankruptcy on student loans. Just take one class a semester if that’s all you can afford. It’s hard to pay off $2000 owed on a credit card–but $22K in TOXIC student loan debt? That’s scarier than “SAW 4″.
Thanks for posting
The #1 selling point 2:38…. SOLD!