According to this article, students who had Genesis Loans will have their debt forgiven by ECMC....http://www.washingtonpost.com/news/business/wp/2014/12/10/elizabeth-warren-wants-the-government-to-forgive-the-debt-of-students-allegedly-duped-by-corinthian-colleges/
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The real question is how do you determine which person was "duped" and which one was not? That's a fuzzy line at best. If all of these loans are forgiven do you have any idea what that would do to the economy overall? Housing bubble times 10 or more.
- While I agree with you that I'd love to see Jack pay for his crimes. I'm not willing to vote for Elizabeth Warren. I would be afraid of what else would come with her that I don't like or want to pay for. Remember - "If you like your plan, you can keep your plan. If you like your doctor, you can keep your doctor." On and on and on ...
Somebody give 16 17 and 18 a cracker, please.
Elizabeth wanted Ed to lower interest rates as well. Did not happen.
Elizabeth wanted Ed to lower interest rates as well. Did not happen.
Elizabeth wanted Ed to lower interest rates as well. Did not happen.
Wow. I bought a car that was a lemon (for about the same as CCI tuition) can I please get that loan forgiven? I was duped and I am poor. They said I could drive the car however I wanted and it would not break down and it broke. How about forgiving the loans at community colleges and universities when the graduates do not find jobs?
697: you've got a good point, but no way is Elizabeth Warren as evil as Jack-Mass and Co. Yeah, it's political because she's a...gasp!...politician. And, yes, the taxpayers will be left paying the bill as always. But politicos are all like that. If she can get some CCi convictions, I'll vote for her! I'd pay quite a bit to see a Jack-Mass perp walk!
OK, OK!! So CCi used these poor undereducated undermotivated people to enrich themselves. Now Elizabeth Warren is going to use them to get them to vote for her for President. Both of them using my tax money for their own evil purposes.
52629: Seriously, you're comparing your wanting something that does not exist with the effort to get these borrowers out from under these unconscionable loans? Did you have no problem saddling the students with them? Well, not all of us were quite as happy to take advantage of people. I for one am still CCI (soon ECMC, fingers crossed that they're better), but still provided documentation of the Genesis program once I realized how vile it was.
I have always wanted a pink pony, see my drift OP?
Jack and his crony so jail time perhaps?
Well, that's obviously been the goal all along. I know we forgave a lot of the Genesis as part of the initial Title IV release, and I believe again with part of the sale proceeds. I haven't been keeping track of the percentages, but it's been clear that the Genesis loans have been a big part of what's been happening the last 6 months. The placement rate falsification and admissions issues (which sounded mostly like they were just relaying the false placement rates) certainly didn't help of course.
Here's the Warren letter....http://www.warren.senate.gov/files/documents/2014%2012%209%20Corinthian%20Letter.pdf