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| User Info | Alert: Nelnet Fraud Allegation in forum [Ticker] | ||||
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Genesis Posts: 66462 Incept: 2007-06-26 
Royal Flush! 
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http://market-ticker.org/archives/1517-A....
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-10-18 15:01:03
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Asimov Posts: 21226 Incept: 2007-08-26 
east tennessee Online
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---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2009-10-18 15:15:17
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Early_retirement Posts: 1777 Incept: 2007-06-26
Burlington, Vermont
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**** that...Federal law I gotta pay for their college? BS.
---------- "You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else." 2009-10-18 15:27:36
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Genesis Posts: 66462 Incept: 2007-06-26
Royal Flush!
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That statement is a lie, by the way. Federal Law is that they won't give you a PELL grant or other forms of FHFSA-based assistance unless your parents contribute to the amount that they claim they "can", but there is in fact NO LAW mandating that a parent is responsible for the college costs of their children. ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-10-18 15:28:49
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Icecastle Posts: 633 Incept: 2008-10-15
Online
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Higher education - yet another bubble created through distortions created by imprudent lending. In this, as in many things, interaction effects may have deeper importance than primary effects. If we suppose an extended period of recession coupled with the loss in market value of higher education degrees, than a fundamental assumption regarding social mobility may be invalidated. If that is the case, then the reaction could be...exciting. The fire of truth burns away the dross of deception; but the process can be notably unpleasant. Yet another superb Ticker. Thank you. ---------- Mala tempora currunt.  2009-10-18 16:29:25
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Mayorquimby Posts: 4457 Incept: 2008-09-18 United States of Mortgages Online
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This is a real sore spot of an issue with me. I have a pretty decent amount of experience within the private university system and there is SO MUCH waste and bs it blows my mind. Parents need to seriously think long and hard about what they're sending their kids to school for. If I had kids in high school, I'd send them to vocational school first and after they get out there and work a few years in the real world, let them decide if they want to get an undergraduate degree and what for. The scams the schools pull (with .gov's and banks' blessing) are insane. If people knew what these Gender Studies and Journalism professors made in light of what they teach (plus 10 years of loan interest), they'd pull their kids out in a NY minute.
---------- - It is impossible to introduce into society a greater evil than this - the conversion of the law into an instrument of plunder. - Government is a great fiction, by which everybody tries to live at the expense of everybody else. - Bastiat 2009-10-18 16:32:12
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Ponzi_unit Posts: 4152 Incept: 2007-09-05
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The past settlements come no where near the profit earned through the fraudulent practices. Where is the incentive to stop the practices? It doesn't exist - yet. The practices will simply pop up and continue under a new slick pamphlet until the penalties are suitable to kill the bezzle. 2009-10-18 16:37:03
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Ponzi_unit Posts: 4152 Incept: 2007-09-05
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From: http://studentloanjustice.org/problem.ht.... A whodunit according to studenloanjustice.org http://studentloanjustice.org/whodidit.h.... Last modified:
2009-10-18 16:42:28 by ponzi_unit
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Vegasradar Posts: 3529 Incept: 2007-07-11
CA
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yeah, I couldn't get any grants or anything because my parents made too much money- even when I lived out of the house. had to work my way through- took forever but i did it 2009-10-18 17:18:56
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Financeguy Posts: 4720 Incept: 2007-08-10
Charlotte Online
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Quote:Reading the entirety of the above link is well worth your time, as is pondering whether there is truly ANY corner of lending in our economy that has not been punctuated with acts that at best violate ethics and at worst violate the law. This has not only invaded every corner of our lending economy, but also every corner of our economy in general. We are overly dependent on consumption that has been fueled for the last couple of decades on the creation of easy credit. That easy credit has caused poor investments in many asset classes including residential and commercial real estate. It has also spawned investment in excess capacity in virtually every business that operates. IMHO it will take decades for the mis-investment to be reallocated into more productive uses of capital. At this point much of this initial reallocation has been into the government sector which I would argue is a very inefficient use of capital. To the extent that this strategy will continue- this will hamper any true recovery. We can play accounting games and pretend to spend our way out of this for a period of time- but that won't change the underlying mathematics of the cash flows that will be impaired from all of this mis-investment. ---------- "Granted, if you are not into Barbara Streisand and creme brulee, South Beach could be a tad lonely." Eleua Last modified:
2009-10-18 17:28:03 by financeguy
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Anti Posts: 1199 Incept: 2007-10-09
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I always thought the student loans and expected "contributions" from parents was a serious scam. When I found out that colleges were counting some percentage of the parents home equity as available to pay tuition I was outraged. Seriously, they expect someone in their declining years to take on debt. wtf. Moreover, I have seen so many 55 year-olds laid off over the last 20 years, it seems like careers are shorter than advertised. Which besides impinging on the parent's ability to help, should also be figured into someones discounted cash flow model of the worth of an education.
---------- Goldman Sachs Delenda Est! 2009-10-18 17:26:46
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Jaydawg Posts: 94 Incept: 2009-06-14
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Ughh...too bad I hadn't found ticker forums sooner and had gotten my head out of the sand earlier. I went to college during the bubble years and have the bill to prove it.
2009-10-18 17:32:45
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Ponzi_unit Posts: 4152 Incept: 2007-09-05
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Read some of these and see how Banksters destroy otherwise productive American citizens. I don't care who's fault it is. The result is the result. We do have a certain obligation to prevent harm to those not smart enough, or careful enough to protect themselves from harm. We have hand rails on stairs, we have mops and WET FLOOR signs. We have stop lights and caution lights. We have laws and regulations in place to prevent people from doing harm to themselves through their own naivete. Even though our societies professionals are totally ignorant when it comes to financing their education it is OUR DUTY to prevent the greater harm to our society. Weigh it on the scales. Do we want 9 million well to do individuals in the Finance Industry (last census) or do we want 50 million productive individuals in a myriad of industries out from under the slavery of usurious debt? http://studentloanjustice.org/Florida.ht.... Last modified:
2009-10-18 17:45:05 by ponzi_unit
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Uwe Posts: 678 Incept: 2009-01-03
Philly Burbs
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The Ticker wrote..I therefore call for a general boycott by all parents in the completion, filing, or provision of ANY family financial information, including but not limited to the FAFSA. Happy to participate. My son is currently a high-school senior trying to decide what schools to apply to. The only financial information I intend to supply to schools is: "We will be paying cash." Now the thing is, I have the means to do exactly that. If I did not, I'm not sure WTF I'd do. I would be very reluctant to send my kids to college under circumstances where they graduated as debt-slaves. BTDT. Didn't enjoy it at all (and I didn't owe all that much). -Uwe- ---------- “Political tags - such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth - are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire.” - Heinlein 2009-10-18 17:41:47
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Genesis Posts: 66462 Incept: 2007-06-26
Royal Flush!
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My daughter has some funds set aside (by me) for her educational use. When it comes to the FHFSA form, I will write "**** you!" across the parts that ask for my social security number, tax release and information, etc. If she cannot purchase what she wants in education with the funds that are set aside, I guess she's going to have to grow up and either take out loans on her own initiative (without me as a co-signer!) or get a job. ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2009-10-18 17:46:08
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Stemmit Posts: 1768 Incept: 2007-09-07
Dixie Hell
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My daughters college wont let me send cash, a check or wire money. They make me give them permission to reach into my bank account to withdraw payments, about 50K/yr. The Alaskan 529's are so complex that I dont know how to withdraw money...yet.
---------- The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he who in the name of charity and goodwill shepherds the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost children. And I will execute great v Last modified:
2009-10-18 17:54:59 by stemmit
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Uwe Posts: 678 Incept: 2009-01-03
Philly Burbs
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Stemmit wrote..My daughters college wont let me send cash, a check or wire money. They make me give them permission to reach into my bank account to withdraw payments If they won't take "cash" (really a check or wire transfer) in advance, I'd set up a separate bank account just for this purpose. NOBODY gets permission to "reach into" my real accounts. -Uwe- ---------- “Political tags - such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth - are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire.” - Heinlein 2009-10-18 18:02:34
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Ruffcut Posts: 1784 Incept: 2007-07-07 Mushagain
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I did a few years of the fasfuk form. The stafford loan, for student only is tolerable, but after that, you may as go to the loan shark I know some parents doing the parent loan thing, and they think there kid is "entitled" to going away and partying on mum and dad's coin, even to the point of more debt. NO NO NO, not me, me be not that stoopid. I have camping friends, that still pay their daughters college loans, and she is 27 and working?????? Why were my parents such cheap ass chumps. Waa Waa, I want my mommy...... ---------- If *******s could fly, then DC and wallstreet would be airports. "I'm sick of being sick about this ****" J0nx 2009-10-18 18:07:59
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Bezzle Posts: 1954 Incept: 2009-08-02 Warming up the Pit
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The absolute worst thing you can do to a kid is give him an allowance.
---------- Why would you try to stop this? A bond-market dislocation puts an instant stop to all the bull****. It is the only limiting factor left in this interventionist madness. It is an almost holy event. -- Christian Gustafson 2009-10-18 18:21:42
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Ponzi_unit Posts: 4152 Incept: 2007-09-05
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There may be more than a few absolutes in the world and that is not one of them.
2009-10-18 18:24:23
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Ruffcut Posts: 1784 Incept: 2007-07-07 Mushagain
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well, bezzy,.. you could be right. I tied allowances to chores. Is it right? Just like after doctors make mistakes and you die, using using the same phrase, parenting is more an art than a science. There you go.. YOu are off the hook. ---------- If *******s could fly, then DC and wallstreet would be airports. "I'm sick of being sick about this ****" J0nx 2009-10-18 18:26:52
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Geckogm Posts: 1410 Incept: 2007-06-26
Canyon Lake
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IMO That would be the equivalent to giving an employee a raise for showing up to work on time.
Last modified:
2009-10-18 18:29:24 by geckogm
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Bullionaire Posts: 1161 Incept: 2007-12-21
Hey Obama ! Kiss my black ass !!!
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But here is the delicious irony: Through TARP and other alphabet soup Bankster Support Programs, The Government has in part unwittingly contributed to paying for the legal defense of JPM, C, et al, from the very charges that the government itself has initiated! Now how sick is that. We are so far off the rails in this country that I doubt we will ever be able to recover.
---------- "Now this REALLY smells like ass." - Karl Deninger 11/11/2009 2009-10-18 19:02:57
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Dasweise Posts: 430 Incept: 2007-08-27
Germanton, N.C. Online
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For many years I felt the NC 529's had way too many strings attached so I chose not to participate. In place of the plan, I worked my ass off to provide 8 semesters for each of my children. Because I have returned to college, an advisor suggested I fill out the FAFSA forms to see if I could get some "financial aid." I looked at the FAFSA forms for over and hour and called my accountant for advice. She admitted she had problems completing the forms and had decided to forego the lure of government money for her childrens education. I did the same. 2009-10-18 19:18:47
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Trades50 Posts: 817 Incept: 2007-10-30
IL Online
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So much for college education. My daughter attended a Big-10 school and told me she had an English professor from Harvard that used 4 letter words all the time in class. When I attended college there was cheating going on all the time. A Vietnamese group where I worked at had professor's tests they used to cycle through and memorize them as well as have an ongoing list of the easiest professors in a graduate course. At a thermodynamics course a group middle eastern TA's helped an Iranian student to cheat on the exams in the back of the lecture hall. 2009-10-18 21:12:43
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