Ron Lieber wrote a pretty good piece that echoes many of the issues about which I’ve prattled on and on. He even does a pretty good job of reportorial “follow the money” by asking some of the so-called aid counselors what they were doing when they gave this girl $100k in loans. They all seem to shrug their shoulders like everyone else in the college industrial complex. “I didn’t do it”, they say, acting like 6 year olds.I want to straighten out Mr. Lieber: just because they’re called “aid counselors” doesn’t mean that they actually “aid” or “counsel” you. Nope. They’re loan salesdroids without the self-awareness to realize what they’re doing. At least the used car salesmen know they’re playing fast and loose with numbers when they talk about the trade-in value, the interest rate and the loan pre-payment penalties. The more warm bodies take classes, the more money the college makes. They get their money upfront. The banks squeeze it out of you over time.On the whole, it’s a pretty nice article. The NYT is catching on. The rest of American can’t be far behind.
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