Condemned to debt is a blog dedicated to exposing problems with the US student loan debt system. Most of the same issues exist in New Zealand. In the latest blog entry, the failure of education leaders to speak out about high costs and the destructive impact of high student loan debt is highlighted:
The federal student loan program is quietly and inexorably destroying the lives of millions of Americans; has anyone in higher education spoken up? Have the presidents of Harvard, Yale, University of Chicago, Brown, Johns Hopkins, or the University of Michigan uttered a single word of criticism about it? ... Has any college president or dean criticized the government policy of garnishing Social Security checks of elderly student-loan defaulters? Has any higher-education leader of national standing called for the closure of the for-profit college industry?
No, our elite colleges and universities are almost as addicted to federal student-aid money as the sleaziest for-profit schools. In terms of dependency on federal money, there is not a dime's worth of difference between Harvard and Bob's Beauty Academy.
The federal student loan program is quietly and inexorably destroying the lives of millions of Americans; has anyone in higher education spoken up? Have the presidents of Harvard, Yale, University of Chicago, Brown, Johns Hopkins, or the University of Michigan uttered a single word of criticism about it? ... Has any college president or dean criticized the government policy of garnishing Social Security checks of elderly student-loan defaulters? Has any higher-education leader of national standing called for the closure of the for-profit college industry?
No, our elite colleges and universities are almost as addicted to federal student-aid money as the sleaziest for-profit schools. In terms of dependency on federal money, there is not a dime's worth of difference between Harvard and Bob's Beauty Academy.