Are student loans really designed to assist students or has it become an elaborate scam to steal tax dollars?

http://www.nytimes.com/2007/05/07/washin...





Under the cloak of helping needy students get ahead and make it in the world with a degree many schools offer accredited degrees. Its a billion dollar scam and many hands are dirty all the way to the top of the goverment. Under the guise of assisting students over priced loans are being handed out. No one dares question because the lobby is strong and the threat is the power of the vote. No one dares come out against these guaranteed loans because the poor would rebel. The poor dont realize they are being used by the banks and schools to milk the goverment of unbelievable amounts of money. Read the article and think back particularly if youre a grad student of these tech schools offering you a diploma. Where you sold mesmerized and massaged into believing youd get a great job only to find you got a great debt? Is it a crime or a technical flaw?

Are student loans really designed to assist students or has it become an elaborate scam to steal tax dollars?
Federal guaranteed student loans are meant to assist students and families afford a college education. When used appropriately by students, parents and institutions, it is a good way to help students cover school expenses and pay over time with tax deductible and favorable interest rates.





However, as with all industries, there are dirty dogs out there who have found loop holes and back doors to run all kinds of scams to milk students, parents, the government and institutions of hard earned money.





Right now there is a lot of attention being paid to the FFELP loan program. Because of this, financial aid administrators are being painted as underhanded, dirty dealing, greedy bureaucrats fattening the coffers of their institutuions and individual bank accounts. Nothing can be further from the truth. The vast majority of us are hard working, over worked, underpaid and attentive to student and family needs in funding college education. We are charged with the responsibility of complying with the ever changing rules of the feds in administering financial aid programs while assiting students. This is by no means an easy task but we do it because we want students to get good information and we want them to be able to attend college. I personally work very hard to dispense good information about financial aid here and in presentations. We are not the bad guys.





The current scrutiny of those in our profession is seriously misplaced. If you really want to see the dirty dealings, examine the alternative education loan industry. You will quickly notice that there is little attention being paid to an industry that is confusing and fleecing millions of students and parents and bilking them out of billions of dollars! Personally, I think all of this scrutiny is a smokescreen to divert attention away from this industry.





This is just my opinion. Thanks for the outlet.
Reply:I didn't click your link, I didn't need to.


It is a scam, I've seen it happen.


The rich have it set up so they can rob you one way or another.


A bunch of thieving b.a.s.t.a.r.d.s, that all most of them are, not all but most.

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