University Diaries » “If a student does not make payments on their federal loans and the loans default, the federal government and taxpayers pick up the tab, meaning that the taxpayers essentially subsidize the private equity funds and investors who own the college. According to the GAO, four years after borrowers started to repay their federal loans, 23.3 percent at for-profit schools defaulted, compared to 9.5 percent at public schools.”

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“If a student does not make payments on their federal loans and the loans default, the federal government and taxpayers pick up the tab, meaning that the taxpayers essentially subsidize the private equity funds and investors who own the college. According to the GAO, four years after borrowers started to repay their federal loans, 23.3 percent at for-profit schools defaulted, compared to 9.5 percent at public schools.”

What a system!

You need to look at the nuts and bolts of free enterprise here in the States to fully appreciate it.

Margaret Soltan, October 26, 2011 10:54AM
Posted in: CLICK-THRU U.

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