Article Image
News Link • Education: Government Schools

The Subprime Student Loan Racket

• Washington Monthly
With help from Washington, the for-profit college industry is loading up millions of low-income students with debt they'll never pay off.

2 Comments in Response to

Comment by Mike Stahl
Entered on:

Ummm, does the term "serf" do anything for ya? The problem with sub-prime student loans is in the offering of them-itself a wealth transfer from poor to rich(or unconnected to connected...however you want to think of it)-that allows, no creates, higher tuition costs overall.

Turning around and then offering some kind of quasi-military system is just plain scary-and it further adds to wealth transfer-since you can be sure whatever gets done will not benefit "we", but rather the politically connected at all levels. This is bad mojo.


Comment by William Klepzig
Entered on:

There is a way to allow the students that have graduated and are so far in debt and those that did not and still are never going to see the light of day a way to pay off the loans.  This is the Educational Mobility Act (I just made that up)  In it any one who has unpaid educational debts can be under a semi military status, never having to leave the US, and use their education, brains and backs to repay the loans.  Friday night, Saturday and Sunday to seven o:clock one week a month plus the two weeks each summer would give then travel money and pay off one month of loan for every month the are a part of the program.  The summer two weeks would only be one month off the loan.

We have engineers, teachers, you name it college and University trained individuals that could use this to get the college money monkey off their backs.


Give it a thought, we receive  the brains and thinking from some of the best and brightest and the banks get their money..... 

Join us on our Social Networks:


Share this page with your friends on your favorite social network: