{"id":47861,"date":"2019-05-09T14:10:57","date_gmt":"2019-05-09T21:10:57","guid":{"rendered":"http:\/\/world.edu\/?p=47861"},"modified":"2019-05-09T14:10:57","modified_gmt":"2019-05-09T21:10:57","slug":"trump-is-expanding-the-student-loan-scam","status":"publish","type":"post","link":"https:\/\/world.edu\/trump-is-expanding-the-student-loan-scam\/","title":{"rendered":"Trump is expanding the student loan scam?"},"content":{"rendered":"

\"\"<\/p>\n

Ctrl-Left hate site Huffington Post has a massive article on a trend of for-profits associating themselves as non-profits. While this has been going on long before Trump, they\u2019ll blame it on him all the same. I\u2019ve seen it before, but this time they kind of have a point:<\/p>\n

The person in charge of higher education at the department is Diane Auer Jones, a onetime official in George W. Bush\u2019s Department of Education who worked for some of the most powerful operators in the previous for-profit scandals. [6] Before entering the administration, Jones operated a company associated with the private student loan industry and the main trade organization of for-profit colleges.. Soon after starting at the department, Jones promptly threw out all of the regulatory work that her predecessors and career staff had been developing\u2026Jones\u2019 proposed rules, released in January, amount to a sweeping deregulation of higher education.<\/em><\/p>\n

So this is definitely happening under Trump\u2019s watch. Fair enough, he should drain this part of the swamp\u2026truth be told, there are wide swaths of swamp (all of it) which still need draining. I wish HuffPo found this as much of a problem pre-Trump.<\/p>\n

Hey, remember when I proposed at some point they\u2019d start doing college courses without instructors? Those days are apparently coming:<\/p>\n

\u2026they include abolishing\u2026a rule that bans federal aid to programs where students don’t interact with an instructor.<\/em><\/p>\n

It is certainty that if federal loans can go to courses with no instructors, such courses will be created\u2026not having to pay an instructor will lead to never-before-seen profit margins!<\/p>\n

I concede I\u2019m not absolutely necessary, most students, with very hard work, can learn the concepts I discuss in advanced math classes all on their own. I\u2019m perfectly fine with legitimate tests granting college credit, cheaply and quickly. Of course, we all know that won\u2019t happen. College will be just as expensive, but now the 14% spent on instructors will just go to the already huge profit margins in higher ed. Capitalism will see to it in short order, and as the above example shows, no amount of regulation will stop it.<\/p>\n

The rules, if adopted, would also weaken the power of accreditors,<\/em><\/p>\n

I do wish HuffPo would look more closely at accreditors, who already have no power at all. I remind the reader that the penalty for UNC\u2019s nearly 20 years long systemic fraud was basically nothing<\/a>: a year\u2019s probation with no fines or firings. There are no penalties for violating accreditation rules because accreditors are utterly impotent. This is by design, of course, as accreditors are run by the same people running the schools being accredited.<\/p>\n

So I\u2019m not too concerned about accreditors being weakened, although I can forgive HuffPo for not understanding the irrelevancy here. Weakening accreditors is about as harmful as knocking a few shingles off of what remains of Notre Dame\u2019s roof: the real damage has long since been done.<\/p>\n

If Jones\u2019 proposed rules are finalized later this year, it will be almost impossible to prevent another armada of private profiteers from rolling in. This time, they will be much harder to detect. By now, the public is largely aware of the dangers of shady for-profit colleges. But OPMs are taking Katzman\u2019s approach of \u201cthe more invisible, the better\u201d to extremes.<\/em><\/p>\n

The above is true, and certainly a concern but\u2026I think the public is getting pretty aware of the dangers of shady state and non-profit colleges as well. I won\u2019t be so foolish as to think capitalism won\u2019t find a way to exploit our government\u2019s stupid student loan scam some more but it does remain to be seen how well this new \u201ccloaking system\u201d will work.<\/p>\n

Noodle will charge a fee that, according to Katzman, equals about 34 percent of tuition revenue.<\/em><\/p>\n

What\u2019s particularly funny about this is how much it highlights the utter incompetence of the people running our schools. The faculty at most schools are quite capable of setting up online courses (much as I have done half a dozen times, at least).<\/p>\n

\u2026in five years, the number of graduate students went from 800 to 6,200, with HotChalk getting as much as 80 percent of tuition revenue.<\/em><\/p>\n

Of course, this would require the \u201cleaders\u201d hiring legitimate faculty, paying them fairly, and treating them well enough that they\u2019ll stick around in case there are problems (schools typically get rid of the faculty setting up online courses a few years after they do it. I know this with certainty, for some reason\u2026). It would take a few years, but then the school would get all the tuition revenue, instead of losing so much of it to a for-profit school sneaking under their banner and besmirching the school\u2019s reputation.<\/p>\n

Wow, that sounds like actual work, requiring integrity and an interest in doing the right thing for the school. Too bad most every \u201cleader\u201d I\u2019ve seen in higher education is far more interested in selling out the school as quick as possible to make as fast a buck as possible.<\/p>\n

At USC, the complaints say, it went deeper. Four people were indicted, including a senior athletic department administrator who allegedly coordinated the flow of bribes and fraudulent admissions.<\/em><\/p>\n

I maintain the corruption is simply so extensive, particularly among the leadership caste at our institutions, that further regulation is irrelevant. Yes, Trump holds some responsibility here by not removing someone who is getting rid of more (ultimately useless) regulations\u2026but when the administrative job description includes \u201ccoordinate the flow of bribes\u2026\u201d the issues are vastly deeper than insufficient regulation.<\/p>\n

I doubt I\u2019ll live long enough to see the end of the student loan scam, but when that time inevitably comes, I do hope some of my ideas for fixing what remains will be considered.<\/p>\n

www.professorconfess.blogspot.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ctrl-Left hate site Huffington Post has a massive article on a trend of for-profits associating themselves as non-profits. While this has been going on long before Trump, they\u2019ll blame it on him all the same. 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