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  1. #1
    2011 NFL Survivor Champion nadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond repute nadB's Avatar
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    Slabs

    http://nplusonemag.com/bad-education

    Sub-prime, part 2 ??

    "The loans and costs are caught in the kind of dangerous loop that occurs when lending becomes both profitable and seemingly risk-free: high and increasing college costs mean students need to take out more loans, more loans mean more securities lenders can package and sell, more selling means lenders can offer more loans with the capital they raise, which means colleges can continue to raise costs. The result is over $800 billion in outstanding student debt, over 30 percent of it securitized, and the federal government directly or indirectly on the hook for almost all of it."

    Another Trillion $ bubble coming down the pike to saddle the American taxpayer ?? Wonder how many former students will default on their student loan debts by carrying them to the grave ??

    "Today, student debt is an exceptionally punishing kind to have. Not only is it inescapable through bankruptcy, but student loans have no expiration date and collectors can garnish wages, social security payments, and even unemployment benefits. When a borrower defaults and the guaranty agency collects from the federal government, the agency gets a cut of whatever it’s able to recover from then on (even though they have already been compensated for the losses), giving agencies a financial incentive to dog former students to the grave."

    Has higher education become more about "business" and less about education ??

    "If current trends continue, the Department of Education estimates that by 2014 there will be more administrators than instructors at American four-year nonprofit colleges."
    Last edited by nadB; 05-01-2011 at 12:09 AM.
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  2. #2
    2011 Bowl Confidence Champion TechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond reputeTechAlum05 has a reputation beyond repute TechAlum05's Avatar
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    Re: Slabs

    With all the money given out by Federal and State governments for student grants and loans, an artificial market of students is being created in the higher education industry. Students that either couldn't afford to go to college or didn't have the right attitude or drive for college now can attend a higher education institution if they wish. With the massive deficits generated by the Federal Government and all the states, the bubble will eventually burst as funding sources for students dry up.

    I'm sure there are more administrators working for colleges and universities now, since they have to get the students who bring in money from Federal Pell Grants, Work-Study Programs, Stafford Loans, and TOPS money from the State of Louisiana. Plus, they have to lobby the Legislature for State money for building projects. Couple that with an unofficial arms race between the major universities and you have higher ed institutions that sometimes focus more on their "brand" than the actual mission of educating the future minds and leaders.

    The higher ed bubble is similar to the housing bubble. The Feds used Fannie Mae & Freddie Mac to prop up the housing bubble of the 2000s while they use Sallie Mae to prop up the student loan industry today. The Feds increased its loans for people who couldn't afford the homes that wanted to pay, and the same government is increasing the amount of money in Pell Grants and student loans to students who may not be able to afford college or have the right drive or talent to get the education they need to make a decent living.
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  3. #3
    2011 NFL Survivor Champion nadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond reputenadB has a reputation beyond repute nadB's Avatar
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    Re: Slabs

    Some folks might wonder if going to college is a worthwhile investment ??

    http://theeconomiccollapseblog.com/a...ing-to-college

    I thought the link to the Harvard entrance exam from 1869 was interesting. I'm guessing most of us don't do Latin or Greek, but scroll down to the math sections.

    http://graphics8.nytimes.com/package...arvardexam.pdf
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  4. #4
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    Re: Slabs

    Quote Originally Posted by nadB View Post
    I thought the link to the Harvard entrance exam from 1869 was interesting. I'm guessing most of us don't do Latin or Greek, but scroll down to the math sections.

    http://graphics8.nytimes.com/package...arvardexam.pdf

    Can I use a calculator?

  5. #5
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    Re: Slabs

    Quote Originally Posted by nadB View Post
    Some folks might wonder if going to college is a worthwhile investment ??

    http://theeconomiccollapseblog.com/a...ing-to-college

    I thought the link to the Harvard entrance exam from 1869 was interesting. I'm guessing most of us don't do Latin or Greek, but scroll down to the math sections.

    http://graphics8.nytimes.com/package...arvardexam.pdf
    How does the Harvard entrance exam of 2011 compare to that from 1869?

  6. #6
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    Re: Slabs

    Quote Originally Posted by nadB View Post
    http://nplusonemag.com/bad-education

    Sub-prime, part 2 ??

    "The loans and costs are caught in the kind of dangerous loop that occurs when lending becomes both profitable and seemingly risk-free: high and increasing college costs mean students need to take out more loans, more loans mean more securities lenders can package and sell, more selling means lenders can offer more loans with the capital they raise, which means colleges can continue to raise costs. The result is over $800 billion in outstanding student debt, over 30 percent of it securitized, and the federal government directly or indirectly on the hook for almost all of it."

    Another Trillion $ bubble coming down the pike to saddle the American taxpayer ?? Wonder how many former students will default on their student loan debts by carrying them to the grave ??

    "Today, student debt is an exceptionally punishing kind to have. Not only is it inescapable through bankruptcy, but student loans have no expiration date and collectors can garnish wages, social security payments, and even unemployment benefits. When a borrower defaults and the guaranty agency collects from the federal government, the agency gets a cut of whatever it’s able to recover from then on (even though they have already been compensated for the losses), giving agencies a financial incentive to dog former students to the grave."

    Has higher education become more about "business" and less about education ??

    "If current trends continue, the Department of Education estimates that by 2014 there will be more administrators than instructors at American four-year nonprofit colleges."
    I have no problem with this at all. I believe that bankruptcy should simply be a way to spread out the debt, not forgive it. No one will ever convince me that someone living outside their means and/or making bad choices should force someone to get screwed by them filing bankruptcy and having that debt forgiven. If they borrow it they should be forced to repay.

    I am not sure if all of the loans are alike, but I was recently looking at a portfolio that was 97% govt. guaranteed.

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