EXPOSED: MASSIVE HIGHER ED FINANCIAL SHAKEDOWN PERPETRATED BY FEDS, CAMPUS ADMIN

The College Fix in June reported on how that student loan interest rate crisis over the summer was actually a red herring for a much, much bigger problem: that the federal government – both Republicans and Democrats – game the higher education financial system.

The feds make billions of dollars off student loans annually. These government-backed loans – which are as easy to get as a gallon of milk at the store – have actually increased the price of a degree, as tuition prices have skyrocketed far greater than inflation rates and continue to do so because everyone can get a loan and administrators know it.

Those tuition checks are funneled to universities locked in a construction arms race as they try to give their campuses more bells and whistles to better attract bright-eyed and bushy-tailed students who just signed on the dotted line for a loan that will likely follow them to the grave (yep – the feds can even garnish social security checks or wages after a bankruptcy).

All this to subsidize an education system that faces a massive reconstruction in the wake of technology and will likely implode on itself in the not-so-distant future.  (more...)

EXPOSED: MASSIVE HIGHER ED FINANCIAL SHAKEDOWN PERPETRATED BY FEDS, CAMPUS ADMIN