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Obama Admin proposal gets both sides


Posted: May 27, 2011

one liberal calls the policy "so wrong-headed it brings liberals and conservatives together"  (lol, if that is not a sign of the times....though a sad one).

;

10 percent of all college students that attend for profits account for - 50 percent of all student loan defaults

[ In Reply To ..]
They rely heavily on federal student loans but the default rate is twice as high as students who attend not-for-profits. For-profits are being investigated by the attoney generals in 10 different states under consumer protection laws for deceptive recruiting practices. They market high-risk loans to economically disadvantaged students. Tuitions average more than twice that of state colleges and five times higher than community colleges, yet they spend less than one-third of these monies on educating their students. Professors at these colleges say retention practices include falsification of attendance records and grades and a high tolerance of plagarism. Their graduation rates are abysmal, averaging 22 percent. Job placement records are also falsified and/or inflated.

The reform proposed in this plan is the fiscally responsible thing to do and it sounds to me like these students could use all the (consumer) protection they can get.

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