Did the Obama administration commit 'the biggest accounting fraud in history' with student loans? Experts weigh in
This is the problem. Universities charge whatever they want but the taxpayers not necessarily the borrowers are on the hook. I saw this from a mile away and finally other people are seeing it too. Giving someone a loan for $200k who is a business major and will make $75k or more post graduation with an upward trend is not the same as giving someone $200k who is a music major with a slim to none chance of ever repaying that loan.
This is the problem. Universities charge whatever they want but the taxpayers not necessarily the borrowers are on the hook. I saw this from a mile away and finally other people are seeing it too. Giving someone a loan for $200k who is a business major and will make $75k or more post graduation with an upward trend is not the same as giving someone $200k who is a music major with a slim to none chance of ever repaying that loan.