Higher Ed Watch
Higher Ed Watch covers the student loan scandal (links and the rest of the article):
One way or another, a whistleblower lawsuit filed by Jon Oberg, the U.S. Department of Education researcher who uncovered the 9.5 student loan scandal, against six student loan companies that participated in the scheme should come to a conclusion shortly.
The parties are currently in the third-day of court-ordered settlement talks to resolve the lawsuit, which seeks the return of approximately $1 billion to the government in overpayments these lenders improperly received. If the negotiations break down, the case is scheduled to go to a jury trial in the U.S. District Court for the Eastern District of Virginia on Tuesday. As we have said, this case should finally resolve many of the unanswered questions surrounding the scandal. After doing a careful review of the court documents publicly available on PACER (Public Access to Court Electronic Records), here are some of the truths that we believe have been revealed…
The US has become a nation with little or no intestinal fortitude.
How low can we sink to prey on students trying to finance their education in hope of a better life, like the generations before them enjoyed ? What kind of people are we ? To make matters worse, we allow a Clinton/GW era change to the bankruptcy law that eliminates students loans from cramdown. We really are a pathetic bunch.
Let’s cut social security and medicare now. Not to worry, fwee twade (Walmart) will unleash the creative juices of the US.
There are ways today to escape student loans . . . not ideal; but, it can be done over 25 years. Three years of interest free and then interest compiled. At 25 years it becomes income and you deal with the IRS then.
Its a bit drastic but emigration likley cancels student loans one might have to pick the country carefully but… Its not clear that foreign courts would enforce US rulings on debt.