Loans ‘Designed to Fail’ No, Simply Designed to Make Money, Not Educate

Source: Loans ‘Designed to Fail’: States Say Navient Preyed on Students – The New York Times

I wrote,

I taught at a “non-profit” (Why they are called that, I have no idea.) “elite” university. As an insider, here is my advice for readers.

I strongly recommend that everyone carefully read the paragraphs of this article about how the lenders and colleges worked together to unscrupulously use students as conduits of revenue and profit. This will give a sense of how the system works almost everywhere – from non-profits to many “elite” schools. (See my blog inside-higher-ed to see stories that shed shocking light on how it works in “non-profits”. See, for example, Bill Gross’ comment on the higher education “business”.)

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