Thousands Apply to US to Forgive Their Student Loan Saying School Defrauded Them | Hacker News Reader

Thousands Apply to US to Forgive Their Student Loan Saying School Defrauded Them

wsj.com

11 pointsT-A8 comments

Back in April 2015 Corinthian Colleges was fined $30 million for

  ...falsifying job placement records, lying about graduation rates and steering students into high-cost loans dating back...

https://www.washingtonpost.com/news/wonk/wp/2015/04/15/how-a...

We are back to medieval times!

Seriously? Everyone gets a loan even if they don't understand what it means to get onto such a debt? What a predatory system!

I'm so glad I graduated already. Sucks for my kids though. They have no option BUT to take the loan because EVERYONE will have a college degree in their time and all jobs will set that as baseline requirement.

From the evidence I've read, it does sound like a lot of these colleges are promising jobs and pushing students into extremely expensive loans in a predatory fashion. I just hope that ultimately these schools have to foot the bill and not the taxpayers for these schools' mistakes.

"Americans are flooding the government with appeals to have their student loans forgiven on the grounds that schools deceived them with false promises of a well-paying career—part of a growing protest against years of surging college costs."

I've never seen a university that promised a guaranteed job or career. It has always been a risk and it's ludicrous that students would attempt to make this case.

Have we sunk this low with personal responsibility? This victim mentality needs to stop if we are going to progress as a society.

I think the problem I have is that not only do some students major in things like medieval history (which will not likely get you a well-paying job, let alone a career), but many think that just getting a piece of paper will get you a job.

It might help you get your foot in the door, but you still need to put the work into it.

College isn't for everyone. Some people would be better suited with a trade.

What we need to do is stop subsidizing schools with loans that you can not default on, or get rid of through bankruptcy. Personal responsibility starts with the lender. When lenders know that they are not guaranteed a return, they will be more careful about who they give loans to, for what degree, and for how much. Which will then lead to lowering of tuition costs to reflect the economic value of the degree and the program.

The microcosm of excessively priced degrees has much to do with the rules of the system more than the choice of the student. 17 and 18 year olds are not developed enough to understand what they are getting themselves in to. The bankers who lend them and the schools which entice them know exactly what they doing. They have a lot of resources at their disposal to do so. 17 and 18 years olds might have a mom or dad who may be semi-literate in these things.

Have we sunk this low with personal responsibility?

The allegation being made is that the institutions engaged in fraud -- knowingly misrepresenting the services they were offering, in order to profit. I was under the impression that most people agree the fault in fraud is on the part of the fraudster and that the damages caused by fraud should be, y'know, remedied.

From the article "he classes used outdated software and were taught by an instructor who knew less than the students. “Most of the time spent in her classes were us teaching her,”"

Victim mentality indeed, huh?

Founders of startups should think about applying, at least, until the job turns into a well-paying one.

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