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Senate Fiddles While College Debt Explodes

grannykk Wrote: Nov 19, 2012 11:41 AM
I've seen and heard far too many "students" using college loan money as walk-around-money and play money. They buy clothes, jewelry, take vacations and buy cars with college loan funds. THEN, if they manage to make it through college, complain about huge debt. I have NO sympathy for them. They didn't have to take the money, and when they did, they should have used it sensibly for its intent.

America’s accumulated college-loan debt will surpass $1 trillion this year; what is our leadership doing about it? The Obama Administration took over the student loan market and expanded Pell Grants, but hasn’t accomplished anything to address the root cause of the crisis: exploding college fees and related costs. The only thing they’ve done is criticize innovators and entrepreneurs.

The Senate Committee on Health, Education, Labor, and Pensions (HELP), chaired by Senator Tom Harkin (D-Iowa), issued a new report calling into question the costs and performance of For-Profit universities. There are actually hundreds of these schools, perhaps the most well-known being University...