The student loan scam

NY Times:

These Student Loans Were ‘Designed to Fail,’ States Say

Lawsuits filed by Illinois and Washington against Navient, the Sallie Mae spinoff firm, say high-risk loans were part of a strategy that has left former students buried in debt.
The beneficiaries of these loans were the institutions who raised tuition and fees willy-nilly while pushing loans to unsophisticated borrowers who were buried in debt.  By that, I mean the colleges and universities who raised salaries of administrators and professors to the point that they could live like the one percent on the backs of poor students who were in some cases given an education in a worthless subject matter.  How many of these bad loans were for students of ethnic or gender studies programs to teach people to wallow in victimhood?


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