Title: Education Profiteers
I borrowed $100,000 to get a degree from college, and now I can’t get a decent job.
I hope you are a doctor, and even then you’re going to have a hard time paying that off. Ever.
I’m a video game designer, but now I’m making $8.26 an hour in the video games section of a bookstore.
You borrowed $100,000 to sell video games?
No, I thought that I’d land a gig at one of the big video game companies and be like a star producer or something. That’s what they told me was possible.
Well yeah, anything is possible. It’s possible to be a star football player, or a star actor but the odds are way against you. Who would loan that much money on such a gamble?
The federal government, I think. The paperwork was all so confusing, they just had me sign and I went to class.
Who is ‘they’?
The financial advisors at the college. They said don’t worry about the cost, it’ll be worth it when I’m driving a hot car with hot babes and rolling in the dough.
Is this a regular state college, accredited and all?
It’s one of those for-profit schools like they advertise online and late night television.
You are so screwed.
Why?
Those schools aren’t in it to actually educate anybody. They’ve figured out a way to take advantage of federal student loan programs by loading the debt on you while they skate off with the cash.
They say that even if I declare bankruptcy this debt will stick with me forever. And it’s gaining in size with high interest every day.
It’s a scandal of massive proportions just waiting for a class action lawsuit.
I think it’s really crappy of them to prey on people’s hopes for a better life with something like education.
There’s regulatory action in play but the Republicans are fighting it on behalf of those schools because they make big campaign donations.
What can I do?
You can either buy a degree that says you’re a doctor from one of the other scam schools in the Bahamas and fake it…
I don’t like needles.
Then you might be able to work some of it off doing volunteer work at some of the NGOs.
I am so screwed.
You are owned.