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Shed a tear for the grown adults who took out gigantic federal loans for a master's degree worth nothing

AP Photo/Mark Lennihan Carve out some time this weekend for this WSJ piece, one of the best hate-reads I’ve had in ages. It’s long but I promise that it’s worth it. How often do you a read a major investigative piece in which literally every person mentioned in it sucks? The Journal pulls back the curtain on a preposterous higher-education scam run by corrupt elite universities like Columbia at the expense of imbeciles who can’t manage a budget and lavishly enabled by the federal govern...
University Of Southern California United States James Stoteraux Ivy League York University Education Department
Source: hotair.com

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Unlimited government loans for grad students fuel skyrocketing debt burden

Mario Tama/Getty Images Graduates of top-tier masters programs are increasingly unable to make enough in their early careers to put a dent in their insurmountable student loans, a Wall Street Journal analysis reveals, thanks in part to a federal Grad Plus loan program with "no fixed limit on how much grad students can borrow." Grad Plus, which students might use to cover the cost of tuition, fees, and living expenses — is the fastest-growing federal student loan program, reports the Journa...
Zack Morrison Mario Tama Getty University Of Southern California York University Columbia University Wall Street Journal

How Dodgy Government Accounting Fueled Rapid Rise of Federal Student Loans

Silly me! Here I thought the main reason for funneling so much money into higher education via what has become lax student loan screening was patronage. Academics and administrators have a strong tendency to vote Democratic. So a debt-fueled expansion of colleges and universities could only help Team Dem. But in finance, bad accounting regularly drives bad outcomes and that looks to the far more immediate cause for the expansion in student loans, and the resulting escalation in higher education...
United States Jeff Courtney Betty Devos Wolf Richter Alma Adams Repadams Jamie Dimon

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