ALERT! Educational FRAUD

ALERT! EDUCATIONAL FRAUD!

studentdebtThe Secretary of Education has stated that any college student being defrauded should be made whole on their long term debt. He was specifically addressing the most recent confrontation and so-called negotiated settlement with Corinthian Colleges, the poster child for “for-profit” Institutions of Higher Learning. Total student debt forgiveness would appear to be the ultimate goal and objective of this administration.

Could not, however, the case be made that most every college in America is guilty of the same crime, over promise and under deliver?

(“Graduate from our institution and embark on a career pathway that leads to success, riches and eternal bliss”.)

(OR NOT) They proclaim loudly.

“Achieve a Bachelors, Masters, PhD or even a Law Degree and the world will open up for you”.

Recognizing that reality sets in sooner rather than later, not only for-profit schools but also the traditional not-for-profit schools which have been conning (career promises) most students, promises have quickly changed.

No longer is a career – great job, good job, or even a job being touted as a reason to go deep into debt. The core rationale has shifted to the production of a better more all around person. A student who has been exposed to varying cultures, philosophies and experiences, unattainable in the non-academic world.

No University or University President can now be accused of fraud if he or she successfully touts an educational objective of sorority/fraternity bliss, the occasional Homecoming weekend, Friday night beer blasts and all night pizza bull sessions. These promises are being delivered successfully.

Accusations of fraud melt away as academia returns to its historical roots of graduating a more “developed” person. Perhaps the real objective of higher education not a piece of false parchment paper but “Party on Garth” is finally being realized.

The new school year rolls around in September. Fresh high school graduates prepare to enter college as the class of 2019 (more than likely 2020, 2021 or 2022). Parents should look at the return on their investment and ask a simple question “Is it worth going thousands of dollars into debt so my child can have a cultural experience?” Now that fraud, lawyers and lawsuits have entered the equation, that is all that is being promised.

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Written by
With his passion for economics Bill Tatro has been entertaining audiences on the radio and in seminars for decades. Bill is an economist that provides weekly paid content to subscribers, and offers a free daily "lite" version as well.