Submitted by VOPS (not verified) on June 26, 2008 - 11:08pm.
Lets face it. Even with the new changes to the higher education laws, the government has still failed to address one critical issue and that is its neglegence over the last 30 years, when it comes to the Higher Education Assistance laws.
It cannot be argued, that congress did not know about the predatory lending and predatory schools out there that were leaving students with useless educations, and nothing to show for it but a debt that they could not pay. No one can argue that the congress did not know about it, when the Senate's own records not only shows that it knew about it in 1991, but knew about it in 1975, and they still know about it.
The "income based repayment" option is not an option at all; its just more of the same ole crap, served a different way. And that way is the government being an accessory to the criminal practices of the predatory schools and loan industries that existed during the 70's 80's and into the 90's before the congress finally started doing its duty to regulate those industries.
But still consumer protections that were taken away from students, have yet to be restored, thus we have a huge number of people that are in effect, in debtors prison, although that prison has no walls.
Sorry. But as far as I am concerned, there is no cause for celebration. Not yet.
Cause for celebration? You gotta be kidding me.
Lets face it. Even with the new changes to the higher education laws, the government has still failed to address one critical issue and that is its neglegence over the last 30 years, when it comes to the Higher Education Assistance laws.
It cannot be argued, that congress did not know about the predatory lending and predatory schools out there that were leaving students with useless educations, and nothing to show for it but a debt that they could not pay. No one can argue that the congress did not know about it, when the Senate's own records not only shows that it knew about it in 1991, but knew about it in 1975, and they still know about it.
The "income based repayment" option is not an option at all; its just more of the same ole crap, served a different way. And that way is the government being an accessory to the criminal practices of the predatory schools and loan industries that existed during the 70's 80's and into the 90's before the congress finally started doing its duty to regulate those industries.
But still consumer protections that were taken away from students, have yet to be restored, thus we have a huge number of people that are in effect, in debtors prison, although that prison has no walls.
Sorry. But as far as I am concerned, there is no cause for celebration. Not yet.