WASHINGTON - Lenders are dropping out of the federally backed student loan business in droves, fleeing an environment squeezed of cash because of the credit crunch. ====================== Maybe now we can get those thieves in tenured clothing to drop the outrageous prices they charge for 'higher' ed. Pull the public assistance gravy train for these money burners.
Exactly, no school needs 6 billion sitting in an account. No student loans --> Lower enrollment --> Greedy schools lower tuition to attract students Could be a good thing
``If I don't get the loans then I guess I really don't know what I would do,'' said Jacobsen, a double major in political science and piano performance from Kearny, New Jersey. ``My mom is not in a position to pay for it and neither is my family.'' Maybe this guy should consider, I don't know, going to a cheaper state school or possibly taking a real, practical major.
EXACTLY. And now a lot of families will be thinking twice about putting their "marginal" children thru outrageously expensive programs only to have them graduating jobless. This college bubble is now bursting as well.
The majority of College Grads end up working at "BLOCKBUSTER" as a manager, Fast Food, Resturants as a Manager, Call Centers, and are making under 40K on average. Education has been watered down by the amount of "STUDENTS" who are pumped out of Non-Private Institutions, like rats in a lab. I wouldn't go to a State School if they paid me. Even if they were ranked in the TOP 10 or 20. But, what else do you do with a population of Individuals? Give'm jobs? Maybe, all those Jobs the "ILLEGALS" are needed for, might come in handy for those who can't go to University due to NO LOANS. Hummm?
Lenders need to do a better job of underwriting student loans. Most students don't have a credit history, so the bank should look at their major and set the interest rate accordingly.
Gee, I was looking for responses like: " You have no respect for the value of a good education" "How are hard working middle class children going to compete" "Teachers are underpaid" lol.