02-06-2013, 03:05 AM
Yale Suing Former Students Shows Crisis in Loans to Poor - Yahoo! Finance
It makes you think of the ROI on college education when even Ivy League grads can't pay back their loans. Tuition Bubble anyone?
Excerpts:
-Aaron Graff, a farmer's son from Denver, graduated from George Washington in 2010 with the help of $62,500 in scholarships over two years, according to his financial-aid award letters. He defaulted on $4,000 in Perkins loans.
Graff, 30, said he hasn't been able to find a full-time job. He earns $800 a month from teaching high-school equivalency courses and restores basements for extra money. He said he is trying to pay off other student loans first because they were co-signed by his parents.
"I live on the bare minimum," he said. "It's not like I'm defaulting on my student loans to live the lavish life. I'm defaulting on my loans because I really don't have it."-
-Students who take these loans have an obligation to pay them back, said Neal McCluskey an associate director at the Cato Institute in Washington.
"You could take a job at Subway or wherever to pay the bills and that's something you need to do if you have agreed in taking a loan to pay it back," McCluskey said. "It seems like basic responsibility to me." -
It makes you think of the ROI on college education when even Ivy League grads can't pay back their loans. Tuition Bubble anyone?
Excerpts:
-Aaron Graff, a farmer's son from Denver, graduated from George Washington in 2010 with the help of $62,500 in scholarships over two years, according to his financial-aid award letters. He defaulted on $4,000 in Perkins loans.
Graff, 30, said he hasn't been able to find a full-time job. He earns $800 a month from teaching high-school equivalency courses and restores basements for extra money. He said he is trying to pay off other student loans first because they were co-signed by his parents.
"I live on the bare minimum," he said. "It's not like I'm defaulting on my student loans to live the lavish life. I'm defaulting on my loans because I really don't have it."-
-Students who take these loans have an obligation to pay them back, said Neal McCluskey an associate director at the Cato Institute in Washington.
"You could take a job at Subway or wherever to pay the bills and that's something you need to do if you have agreed in taking a loan to pay it back," McCluskey said. "It seems like basic responsibility to me." -
CLEPS Passed: 10 DSST Passed: 11 TECEPS: 1
PrLoko-isms
Don't waste time by trying to save time. The only sure way to complete your degree is to knock out credits quickly and efficiently.
Don't let easiness bite you in the rear. Know your endgame (where you want to be) and plan backward from there. Your education is a means to an end.
Be honest professionally, socially and academically. There are people (especially little ones) who look up to you and they're going by your example.
Be proud. Whether you're an Engineer or Fast Food worker, there is honor and dignity in hard work.
Picking on people weaker than you only proves that you are a weak person.
PrLoko-isms
Don't waste time by trying to save time. The only sure way to complete your degree is to knock out credits quickly and efficiently.
Don't let easiness bite you in the rear. Know your endgame (where you want to be) and plan backward from there. Your education is a means to an end.
Be honest professionally, socially and academically. There are people (especially little ones) who look up to you and they're going by your example.
Be proud. Whether you're an Engineer or Fast Food worker, there is honor and dignity in hard work.
Picking on people weaker than you only proves that you are a weak person.
![[-]](https://www.degreeforum.net/mybb/images/collapse.png)
