Led by Massachusetts Attorney General Maura Healey, a coalition of 19 states on Thursday filed a lawsuit against Education Secretary Betsy DeVos and her department over their efforts to prevent the implementation of new federal rules designed to protect students from the predatory practices of for-profit colleges and their allies in the student loan industry.
Handing DeVos this position was a violation of the Public Trust.
List of 18 states and District of Columbia participating in lawsuit can be found here:
I was very happy and relieved to see that my state was included.
DeVoid (of brains) needs to resign and go back to living her life of gluttony and privilege where she can wallow with her own kind.
Recall that it was Pence that cast the tie breaking vote that put her in office. Someone that has not a clue running a public institution is inexcusable. Hopefully the suits will have an effect on the system of profit schools.
In addition to publicly funded health care it is way past time for publicly funded (100%) public education on ALL levels...and publicly funded transportation, housing...
One has to wonder how a person of private schooling,(DeVos) has an inkling of how public education even works or how hard teachers have enough funds to properly go about the teaching of the kiddos. Maybe these suits will have some teeth behind them and usher in some needful changes.
I was intrigued by the fact that it said "19 states" in the Common Dreams' headline and 18 states in NPR's.
So I counted and came up with the solution.
They were both right. we had indeed 18 states on the list as well as the DC, making it 19 plaintiffs.
If you have federal student loans you must repay them; you have no recourse. If you have private loans, do not start to pay them. Private creditors will negotiate settlements, often at amounts far below that owed, with individuals whom they perceive to be unable to repay them. I know a person who only last week negotiated a $10k settlement for a $30k loan. They will harass you, try to get you to pay. Offer them a third of what they want and stand firm. Tell them to call you back when they are ready to get serious about settling. One catch: you must be ready to pay the settlement amount since their deal will require that commitment. Again, if you have federal loans the government will not negotiate a settlement. But private lenders most often will.
This action by DeVos shows you what kind of person she is. To be so absolutely disgusting takes years of effort and can't be achieved in a day, but since it shows what she is, in the future it is to be assumed that she will act accordingly. Therefore to give her the benefit of the doubt in anything is remarkably foolish and an example of fool me once and keep on fooling me. She's already had her one time. No more.
I agree. As a member of the public, I pay 100% for my health care, education, transportation and housing.
That's what you mean, right?
How short the voters memories are. Jill Stein suggested a solution to the student debt problem. How quickly we forget. It worked for Obama and Goldman Sacks. The Fed could make it work for Greens as well. The conversation went like this.
Stein: "I'm suggesting that the Federal Reserve actually buy that debt, like it did for Wall Street, but in this case, that it buy that debt and it basically declare that debt null and void, which essentially means that the Federal Reserve would be expanding the money supply into the hands of young people so that they can spend it into the economy."
It worked for Wall Street, it can work for student debt. Mike Taibbi backed up the slight of hand.
Why even bother now. In about 5 to 10 years we'll all be roasting like pigs on a spit. Less USA'ns will be around to pay or collect the cash. It will become the ultimate and last existential problem for man/woman and possible all the other living organisms on this Earth. To paraphrase George Carlin., the World will pinch us off like fleas. It won't care. It will crank along for a couple more billion years.
Here's the key phrase in this post: "After years of consideration by the Obama administration..." As was the case in many issues, most notably Keystone XL, the Obama administration was slow on the uptake making it possible for a new administration to come in and undo it's decisions. This decision SHOULD have been easy... but my hunch is that some of the profiteers were also contributors to the DNC and that made an easy decision more difficult.
Two wrongs don't make a right.
Shouldn't have been done for GM and the banks.
Shouldn't be done for students. Didn't they bother to read the contacts first?
A valuable lesson every adult needs to learn from. Don't enter into stupid agreements.
The "contract" is a fraud, and the looters should get zero.
Your smug support for the looters is disgusting.
What makes it a fraud? Really bad loan agreement perhaps, but fraud?
I'm not even arguing, I'd just like some examples.
If you mean the universities claiming people can pay for their education with the skills learned, them I'm with you.
My oldest son went to a prestigious east coast college, Emerson, and knew people that graduated with $100k debt and a film degree.
I have a friend that borrowed a boatload of money for culinary school and can't find work.
But is that fraud or just stupid?
The entire system of education loans is a fraud, instituted at the behest of the predatory finance sector in exchange for "campaign contributions."
What possible "logic" is there for the fact that a law was passed in the USA singling out student loans as the only category that cannot be addressed via personal bankruptcy?
That's just one glaring example of the structural fraud that has been constructed by corporatist legislators and regulators on behalf of the predatory finance sector.
You are free to "justify" it all, because the marks should know better. But that's been set up as the only path to higher education for millions of US citizens. For them to choose not to sign that contract, in many cases, means they choose not to get higher education. Not because that's their personal life decision based on what they want to achieve and become and learn, but because that's the only way to avert the clutches of the predatory loan industry. Structural fraud.
You aren't going far enough. It also takes the collusion of the colleges continuing to raise the price of degrees to match the available predatory loans.
The rapid increase in education prices way above the inflation rate has been driven by the availability of easy money. It's a double whammy.