Judge unblocks Obama rule on student debt relief after delays by DeVos

[danarhea]

(CNN)An Obama-era rule designed to help students cheated by for-profit colleges get relief on their education debt finally took effect Tuesday after efforts by the Trump administration to block it.

Well, yea, if someone starts a scam, calls it a school, and bilks students out of millions of dollars, it ought to face the music. Nothing about politics here. Just good old Logic 101. If not logical, then hell, I might as well join 'em, and start a school.

That's right, folks. You can make money hand over fist, training at the DanaRhea Culinary Institute. Price is only ten thousand bucks, and we will give you a boner.... oops, I mean bona fide degree in culinary arts in just one year. Unlock your potential now, and be one of our hugely successful graduates. Who knows who you could eventually be displaying your skills to, while earning top dollar. The Ritz-Carlton? Le Diplomate? Trump Tower? The future belongs to you. Take it. Just sign up at my website......

(Meanwhile, the fine print is too fine to read. No worries, we gotcha covered)

Here are your courses..............

1) Water boiling (this is a prerequisite for the next course)

2) Hard boiled eggs.

3) Microwaving of TV dinners. (Time is of the essence here - 5 minutes at 1000 watts or 8 minutes at 800 watts - The Great Debate)

4) Thawing Sara Lee frozen cakes in the refrigerator. (What course of education is complete without deserts?)

5) TV dinners II (Using an electric oven)

6) Principles of burger flipping (you will work your way from a single burger all the way up to the McDonald's Triple 12's technique. Don't be intimidated. YOU CAN DO IT).

7) Pancakes I. (Making the pancake)

8) Pancakes II. (Toppings)

9) Orange juice from concentrate.

10) Tang and other orange juice substitutes

And there you have it. Finish all of them, and you will be given your degree, with a printed signature replica by Betsy DeVos herself. And, as soon as you obtain your wonderful Degree In Culinary Arts, job placement is available.

McDonald's
Taco Bell
Domino's Pizza
Burger King
James' Coney Island

And much, much more........ Don't just sit there. Take action NOW!! In just a few years of hard work, you might even make assistant manager. What's not to like about that?......... Whoa, hold your horses!! Ten thousand too much to pay for this wonderful curriculum? No worries. Just call 1-800-EATCRAP, and we will process your paperwork for a no down payment student loan. No money down, and low interest rates, at only 50 bucks a month for 50 years. Operators are standing by.

https://www.cnn.com/2018/10/16/politics/devos-borrower-defense-lawsuit/index.html

 

[Thoreau72]

It is refreshing to see a court actually rule against the corporations.

Not to worry, if they get the case to SCOTUS, Brother Brett will take care of any problems for Mrs. DeVos.

 

[noonereal]

It is refreshing to see a court actually rule against the corporations.
.

Don't worry, those days are over,apparently for good.

 

[Thoreau72]

Don't worry, those days are over,apparently for good.

For perhaps decades, it has been a most unusual circumstance to see the court rule for the individual. It has long been pro-corporation.

 

[The Mark]

For perhaps decades, it has been a most unusual circumstance to see the court rule for the individual. It has long been pro-corporation.

IMO, that must change, or this country will die, if it's still alive despite decades of this.

 

[jonny5]

Well, rl]

I see a lot of snark. Do you have a serious point?

 

[Mason66]

Aren't all colleges for profit?

 

[longview]

Aren't all colleges for profit?

NO! many public and state colleges are non profit and most are subsidized.
Non profit itself get slippery some times, as they can offset profits with costs.
There are real technical schools out there that train people in trades, but there are also lots of questionable ones.
If someone were looking, it would be better to stick with a state school , or a community college program.

 

[Mason66]

NO! many public and state colleges are non profit and most are subsidized.
Non profit itself get slippery some times, as they can offset profits with costs.
There are real technical schools out there that train people in trades, but there are also lots of questionable ones.
If someone were looking, it would be better to stick with a state school , or a community college program.

OK, with that in mind, how much debt does a student at one of these public and state colleges rack up?

 

[Checkerboard Strangler]

And much, much more........ Don't just sit there. Take action NOW!! In just a few years of hard work, you might even make assistant manager. What's not to like about that?......... Whoa, hold your horses!! Ten thousand too much to pay for this wonderful curriculum? No worries. Just call 1-800-EATCRAP, and we will process your paperwork for a no down payment student loan. No money down, and low interest rates, at only 50 bucks a month for 50 years. Operators are standing by.

https://www.cnn.com/2018/10/16/politics/devos-borrower-defense-lawsuit/index.html

Dude, I'm with you, let's start a school, either that or a religion.

 

[The Mark]

OK, with that in mind, how much debt does a student at one of these public and state colleges rack up?

Public college less than a private college, usually.

https://studentloanhero.com/student-loan-debt-statistics/

In 2012, 71 percent of students graduating from four-year colleges had student loan debt:

Represents 1.3 million students graduating with debt, increase from 1.1 million in 2008
66 percent of graduates from public colleges had loans (average debt of $25,550)
75 percent of graduates from private nonprofit colleges had loans (average debt of $32,300)
88 percent of graduates from for-profit colleges had loans (average debt of $39,950)

And that was 6 years ago, so it is probably different now.

 

[longview]

OK, with that in mind, how much debt does a student at one of these public and state colleges rack up?

It can be quite a bit, I think the lowest cost BS degree is now about $25K, but if the choice of degree is one in demand,
the increase in salary will more than make up for the expense.
The Government has been trying to put the sham schools out of business for quite a few years,
by blocking loans to un accredited schools.
https://www.insidehighered.com/news/2016/09/07/itt-tech-shuts-down-all-campuses
The Governments roll in helping with collage, is a bit self serving, people with good degrees
get good jobs and pay more taxes.
Schools like ITT were just signing up people with benefits, and not providing sufficient training for a real job,
I.E. they were wasting the Government funds.

 

[VanceMack]

NO! many public and state colleges are non profit and most are subsidized.
Non profit itself get slippery some times, as they can offset profits with costs.
There are real technical schools out there that train people in trades, but there are also lots of questionable ones.
If someone were looking, it would be better to stick with a state school , or a community college program.

Actually...that’s very relative. Non profit just means that at the end of the day your balance sheet reads zero...AFTER you have paid your president and board and tenured professors obscene amounts of money. Don’t get me wrong...nothing wrong with getting paid. But we shouldn’t pretend non profit means no profit for individuals.

The head of the Red Cross makes about a million...and she isn’t the highest paid Ref Cross official. The head of the United Way makes 1.2 million. The president of Wake Forrest made 4 million last year.


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[danarhea]

I see a lot of snark. Do you have a serious point?

I noticed you thought it serious enough to reply too.... And, yea, when I want to, I can troll just as good as you. :mrgreen:

 

[jonny5]

I noticed you thought it serious enough to reply too.... And, yea, when I want to, I can troll just as good as you. :mrgreen:

Is that a no?

 

[MTAtech]

It is refreshing to see a court actually rule against the corporations.

Not to worry, if they get the case to SCOTUS, Brother Brett will take care of any problems for Mrs. DeVos.

Judge Randolph D. Moss was an Obama appointee, so he doesn't bend over backwards for corporate interests.

 

[MTAtech]

Actually...that’s very relative. Non profit just means that at the end of the day your balance sheet reads zero...AFTER you have paid your president and board and tenured professors obscene amounts of money. Don’t get me wrong...nothing wrong with getting paid. But we shouldn’t pretend non profit means no profit for individuals.

The head of the Red Cross makes about a million...and she isn’t the highest paid Ref Cross official. The head of the United Way makes 1.2 million. The president of Wake Forrest made 4 million last year.

Not-for-profit also means there are no shareholders and no individual directly benefits from the profits of the organization.

 

[Eriech]

It is refreshing to see a court actually rule against the corporations.

Not to worry, if they get the case to SCOTUS, Brother Brett will take care of any problems for Mrs. DeVos.

Did the court rule against the schools or is it interfering in a contractual agreement between a lender and a student? Who is on the hook for the loss? If it is those delivering the shoddy education it is a great decision. Knowing how Obama worked I doubt it.

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[ttwtt78640]

Not-for-profit also means there are no shareholders and no individual directly benefits from the profits of the organization.

That is not to say that no individuals get paid a salary higher than the POTUS for their 'service' to that organization, that 'overhead' (fundraising/travel) costs do not exceed the value of charitable services offered or that for profit contractors/suppliers are not used by that 'non-profit' organization.

 

[danarhea]

Is that a no?

Nice try. You need better bait. LOL.

 

[VanceMack]

Not-for-profit also means there are no shareholders and no individual directly benefits from the profits of the organization.

Yep...no shareholders. But boy, dont the 'board members' get paid.

 

[MTAtech]

Yep...no shareholders. But boy, dont the 'board members' get paid.

If you are pointing out that some NFP corps have well paid boards and execs, that's been news for 30 years. However, being well-paid isn't equal to having an equity stake in the NFP.

This is a side-issue, and is only tangentially related to the OP's tread.

 

[jonny5]

Nice try. You need better bait. LOL.

What bait? Im asking for a serious answer. Do you have a serious argument related to the link you posted? Are you for it or against it? And why?

<debate forum

 

[ludin]

OK, with that in mind, how much debt does a student at one of these public and state colleges rack up?

depends on the college and the degree that you are getting.

i just looked it up here it isn't bad. UF 4 year (non-professional degree IE doctor, lawyer etc ...) will cost about 22k for 4 years. it runs about 6k a year.
for instate. average pay when graduated is 56k.

 

[VanceMack]

If you are pointing out that some NFP corps have well paid boards and execs, that's been news for 30 years. However, being well-paid isn't equal to having an equity stake in the NFP.

This is a side-issue, and is only tangentially related to the OP's tread.

Sure...just pointing out that the comment about Non/Not For Profit Universities doesnt always mean what people think it means.

We have several state contracted county medical and mental health providers that are by law, 'non profit'. Well over half of the awarded contract goes to the board. Half of the remaining funds goes to client care. As long as they can still meet the contract requirements everyone is thrilled and so they do...at the expense of providers and clients.

SOMEONE is making a nice profit...and its usually people that are in no way affiliated with the provision of services.