How are students able to determine if the education they are paying for is valid or not? How are students that are in at-risk populations able to differentiate between valid accredited solutions and predatory schemes?
It's very easy to take advantage of certain people. I'm glad the government is doing its job protecting people from unfair practices.
If information asymmetry wasn't so exceedingly common maybe we wouldn't have to deal with consumers making poor mistakes because they "should have known better."
The government "freely" giving people money to spend on questionable goods and services doesn't help or protect the vulnerable people. The government "failed" first, the for-profits ripped people off, now the government is "saving" the vulnerable people that they allowed to get into the crappy situation by allowing them to accrue loads of debt to start with.
Touche. Perhaps full deferment should be changed to paying back $200 / month even while enrolled. I know this is controversial. But at least then the students might feel the pinch and squeeze that the loans will have on them and it might also help them learn personal finance. If a student is unable to make the payments and go into default then they'll have to take a semester off and make some money (this would also prevent some from going much much deeper into debt). All around its a crappy situation. But most high school graduates probably think Caveat Emptor was some Roman ruler...
