June 10, 2010
At Maryhurst University (OR), a popular digital MBA goes analog.
Naked Law: “8 Reasons College Tuition Is the Next Bubble to Burst”. The punchline:
…”3) For profit colleges are paying homeless people to take out federal loans to enroll
Because student loans are so easy to acquire, enterprising colleges are paying homeless people to enroll. The math makes sense when you think about it: if paying someone a $2,000 “stipend” gets the college $20,000/year in tuition courtesy of the federal government, that’s money well spent. Unfortunately, many people who accept such “stipend” offers never graduate, become overwhelmed with student debt, and destroy their already bad financial records.”
A vicious circle, without a doubt.










