Sunday, March 22, 2015
HOW TO CLOSE PHONEY ONLINE UNIVERSITIES
JUST HAD AN IDEA THAT MIGHT LIMIT THE DAMAGE OF THESE PHONEY ONLINE COLLEGES (pardon shouting, but I think it's justified):
Only allow government guaranteed loans (and the accompanying you-can-never-get-out-of-paying) IF a built for that purpose government agency APPROVES said loan.
The threshold step should be to allow bankruptcies. This is not costless and clearly limits "moral hazard." Think of it as amnesty -- we goofed and went in the wrong direction (in more ways than one -- don't forget exponentially rising tuition, and for profit pirates) -- time to reverse what's looking more and more like irreparable harm to the newest generation.