“Colleges with consistently high default rates can lose their eligibility for federal financial aid.”
See? It’s all about business. There is no way to file bankruptcy against a student loan. Besides, there are lots of crappy education that is NOT practical. All those damn theories, formulas and models did nothing for me in the real world. Getting a college education is really for those who have cash/can afford to “network”. With the stagnant/bleak job outlook, these graduates can’t pay back their student loans. I guess that’s how knowledge is suppressed — keep the low-income and disadvantaged from ever knowing the truth. The Department of Education should go away completely because they are in the business of making money, too and NOT giving a chance to intelligent/incarnated souls who happen to be bottom feeders.
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