Most Americans have been conditioned to accept some level of incompetence and inefficiency from government – but not to the extent that federal employees paid by our tax dollars simply admit that they are fundamentally incapable of doing their jobs. Yet shockingly, this is what we are now witnessing with the Department of Education’s failed and convoluted attempt to process claims for student loan cancellation.Read More
Tag: college debt
Commentary: Taxpayers End up Paying off the Insane Tuition Costs of Grad Programs at Elite Colleges
“Columbia and other wealthy universities steer master’s students to federal loans that can exceed $250,000. After graduation, many learn the debt is well beyond their means,” notes the Wall Street Journal.
The Journal reports on Columbia University’s Master of Fine Arts Film program, one of the worst examples, in an article titled “Financially Hobbled for Life: The Elite Master’s Degrees That Don’t Pay Off”:
Recent film program graduates of Columbia University who took out federal student loans had a median debt of $181,000.Read More
As Biden Taps Elizabeth Warren Ally to Oversee Student Loans, Debate over Canceling Debt Looms Large
The Biden administration has chosen a close ally of Sen. Elizabeth Warren (D-Mass.) to oversee the nation’s expansive federal student loan program.
On Monday, Rich Cordray, director of the Consumer Financial Protection Bureau during the Obama administration, was announced as the new head of the Education Department’s Office of Federal Student Aid, which oversees over $1.7 trillion in loans to U.S. students.
In a statement following his appointment, Cordray said he sought to “create more pathways for students to graduate and get ahead, not be burdened by insurmountable debt.”Read More