Make no mistake about it education is a business and being a business they are in it to make money!





When the Depression hit, yes I said Depression NOT RECESSION, many people decided to ride it out by getting a degree. Rather than look for a job when there were no jobs they decided to pursue graduate degrees, law degrees, even culinary arts degrees. And just as in the past the financial aid offices opened their arms to almost everyone who had a pulse and wanted a student loan. Sure, and why not...student loans are backed by the government, sort of like Wall Street Bail Out Money! The colleges can't lose because we the taxpayers will guarantee the money if the student defaults on their debt. Because of this some schools have actually sought out and registered homeless people just to obtain student loans from the government. It's a complete scam on the American public.

The only losers in this game are the students who can't find jobs after incurring millions of dollars in debt and the taxpayers who will be tapped again to pay for the defaults.

The student loan scam is destined to be the next great credit default bubble bursting in our country!



