College Students: You Are Exploited Debt-Serfs

04-12-2011 • OfTwoMinds.com/blog

Of all the exploitative systems in the U.S., none is more rapacious than the Education Cartel. Like the proverbial frog that is unaware that it's being boiled because the water temperature rises so gradually, college students and their parents are unable to recall what higher education was like before students were herded into debt-serfdom. Apologists for the Education Cartel like to blame Corporate America or the banks, but the reality is that the Federal and State governments and the employees of the Cartel are willing partners in the exploitation and fraud. How did we get to the boiling-water point where students are expected to take on $100,000 or more in debt to attend college--even a mediocre one? Answer: immensely profitable Government-backed loans. If the Central State wasn't partnered with the Education Cartel, today's debt-serfdom would be impossible. The partnership plays out on multiple levels. The San Francisco Chronicle recently reported that "Liberal" U.S. Representative Nancy Pelosi is fighting vigorously to defend the debt-serf-based empires of for-profit "colleges." Why? because these billion-dollar empires give her hundreds of thousands of dollars in campaign contributions (duh!). ("Conservatives" love for-profit "colleges" for the same reasons, of course.) There is nothing remotely educational or liberal about an exploitative Cartel that provides no measurable value to its students while graduating 10% of them. As reported in The New Republic, when General Accounting Office (GAO) investigators posing as prospective students applied to 15 major for-profit "colleges," every one made misleading sales pitches. The largest for-profit, the University of Phoenix, graduates less than 10% of its students within 10 years.

1 Comments in Response to College Students: You Are Exploited Debt-Serfs

Comment by Olde Reb

Entered on: 4/12/2011 5:58:10 PM

if the only way to afford college is to get a federal loan, then only people that can obtain favors from the government will be able to go to college. those eliminated first will be individuals who do not file tax returns, then those whose names are on domestic terrorist lists, then any individuals arrested during protests at government offices, then those who send letters to congress-critters that are not politically correct, then ...........

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