Education Department to cancel $150 million in student loan debt

[Joe Biden 2024]

https://thehill.com/homenews/administration/421369-devos-to-cancel-150m-in-student-loan-debt-after-court-loss

[Person Man]

The TEAbilly tears nourish me...

[Santander]

The students should've enrolled in a reputable school like Trump University...

[Del Tachi]

Good call.  DeptEd is certainly justified in protecting students from predatory, for-profit colleges.

However, I am against large scale "debt cancellation" programs for traditional students attending traditional schools.  The federal student loan guarantee has already massively distorted price signals in the higher education market, and forgiving existing debts would accelerate the tuition hikes that universities are able to get away with.

[gerritcole]

where the gop haters at

[I spent the winter writing songs about getting better]

where the gop haters at

We should be all over this as DeVos initially refused to do so and is only now due to losing a lawsuit.

[AudmanOut]

Great news.

[💥💥 brandon bro (he/him/his)]

where the gop haters at

lmao did you even read the article?

literally the first two paragraphs

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If anything the fact that we're seeing headlines phrased to make it sound like this was a voluntary and intentional decision by DeVos shows how eager the press is to give Trump "credit when credit is due". Let's not act like the Trump administration is suddenly the new protector of struggling students.

You must be logged in to read this quote.

[pbrower2a]

Good call.  DeptEd is certainly justified in protecting students from predatory, for-profit colleges.

However, I am against large scale "debt cancellation" programs for traditional students attending traditional schools.  The federal student loan guarantee has already massively distorted price signals in the higher education market, and forgiving existing debts would accelerate the tuition hikes that universities are able to get away with.

The people who attended those predatory "we'll take anyone who will sign for a federal loan" schools are not the usual people who attend traditional colleges. Genuine colleges and universities do not advertise on schlock daytime TV. Those schools appealed to people who either were unemployed and thought themselves inadequate or to people who do third-shift work and hate it.

Not even Harvard promises that a job awaits one after graduating. People intending to attend first-rate colleges as a rule watch little TV of any kind, let alone daytime TV, and especially not the sort of TV in which chairs are likely to fly across the stage or someone is exposed with "You are the father!"

The idea behind undergraduate education is that it improves someone who attends it. That is enough to make one better as a worker of any kind.

Tuition hikes in traditional schools? The old-fashioned liberal arts school was able to educate undergrads cheaply by having college professors who knew a couple books in the Western canon very well, having practically no bureaucracy, and having no 'edifice complex'.

[Indy Texas]

Good call.  DeptEd is certainly justified in protecting students from predatory, for-profit colleges.

However, I am against large scale "debt cancellation" programs for traditional students attending traditional schools.  The federal student loan guarantee has already massively distorted price signals in the higher education market, and forgiving existing debts would accelerate the tuition hikes that universities are able to get away with.

The people who attended those predatory "we'll take anyone who will sign for a federal loan" schools are not the usual people who attend traditional colleges. Genuine colleges and universities do not advertise on schlock daytime TV. Those schools appealed to people who either were unemployed and thought themselves inadequate or to people who do third-shift work and hate it.

Not even Harvard promises that a job awaits one after graduating. People intending to attend first-rate colleges as a rule watch little TV of any kind, let alone daytime TV, and especially not the sort of TV in which chairs are likely to fly across the stage or someone is exposed with "You are the father!"

The idea behind undergraduate education is that it improves someone who attends it. That is enough to make one better as a worker of any kind.

Tuition hikes in traditional schools? The old-fashioned liberal arts school was able to educate undergrads cheaply by having college professors who knew a couple books in the Western canon very well, having practically no bureaucracy, and having no 'edifice complex'.

But therein lies the problem. Most of the people who were ill-served by the for-profit education industrial complex would be ill-served by traditional higher ed institutions in general. If you put them in a nonprofit community college, you'd get the exact same poor results.

So is the fault really with the sketchy ITT Tech-type schools for capitalizing on a free money bonanza?

[pbrower2a]

Good call.  DeptEd is certainly justified in protecting students from predatory, for-profit colleges.

However, I am against large scale "debt cancellation" programs for traditional students attending traditional schools.  The federal student loan guarantee has already massively distorted price signals in the higher education market, and forgiving existing debts would accelerate the tuition hikes that universities are able to get away with.

The people who attended those predatory "we'll take anyone who will sign for a federal loan" schools are not the usual people who attend traditional colleges. Genuine colleges and universities do not advertise on schlock daytime TV. Those schools appealed to people who either were unemployed and thought themselves inadequate or to people who do third-shift work and hate it.

Not even Harvard promises that a job awaits one after graduating. People intending to attend first-rate colleges as a rule watch little TV of any kind, let alone daytime TV, and especially not the sort of TV in which chairs are likely to fly across the stage or someone is exposed with "You are the father!"

The idea behind undergraduate education is that it improves someone who attends it. That is enough to make one better as a worker of any kind.

Tuition hikes in traditional schools? The old-fashioned liberal arts school was able to educate undergrads cheaply by having college professors who knew a couple books in the Western canon very well, having practically no bureaucracy, and having no 'edifice complex'.

But therein lies the problem. Most of the people who were ill-served by the for-profit education industrial complex would be ill-served by traditional higher ed institutions in general. If you put them in a nonprofit community college, you'd get the exact same poor results.

So is the fault really with the sketchy ITT Tech-type schools for capitalizing on a free money bonanza?

The solution is low-cost, short-duration trade schools that do not pretend to prepare anyone for anything other than a narrow set of skills. Such schools have taught marketable trades such as hair treatment and vehicle repair. 

[I Can Now Die Happy]

The students should've enrolled in a reputable school like Trump University...

haha many students WOULD be better off just going through Trump University than whatever nonsense they decide to spend their time as 18-22+ year olds with

[Woody]

Bad move.

[Badger]

where the gop haters at

We should be all over this as DeVos initially refused to do so and is only now due to losing a lawsuit.