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The Student Loan Scam

The Student Loan Scam
Author: Alan Collinge
Publisher: Beacon Press
Total Pages: 188
Release: 2009-02-01
Genre: Education
ISBN: 0807096725

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The Student Loan Scam is an exposé of the predatory nature of the $85-billion student loan industry. In this in-depth exploration, Collinge argues that student loans have become the most profitable, uncompetitive, and oppressive type of debt in American history. This has occurred in large part due to federal legislation passed since the mid-1990s that removed standard consumer protections from student loans-and allowed for massive penalties and draconian wealth-extraction mechanisms to collect this inflated debt. High school graduates can no longer put themselves through college for a few thousand dollars in loan debt. Today, the average undergraduate borrower leaves school with more than $20,000 in student loans, and for graduate students the average is a whopping $42,000. For the past twenty years, college tuition has increased at more than double the rate of inflation, with the cost largely shifting to student debt. Collinge covers the history of student loans, the rise of Sallie Mae, and how universities have profited at the expense of students. The book includes candid and compelling stories from people across the country about how both nonprofit and for-profit student loan companies, aided by poor legislation, have shattered their lives-and livelihoods. With nearly 5 million defaulted loans, this crisis is growing to epic proportions. The Student Loan Scam takes an unflinching look at this unprecedented and pressing problem, while exposing the powerful organizations and individuals who caused it to happen. Ultimately, Collinge argues for the return of standard consumer protections for student loans, among other pragmatic solutions, in this clarion call for social action.


Student Loan Scams

Student Loan Scams
Author: Matthew Gumke
Publisher: Independently Published
Total Pages: 45
Release: 2019-09-19
Genre:
ISBN: 9781694308030

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I've made this book so that you don't get scammed by taking out a student loan. Why would you pay $100,000 to listen for 4 years to teachers that have never made more than $50,000 per year?You can't even live on $50,000 per year anymore. Not if you want a half-decent life. And people are PAYING to listen to these people. Societal disaster. America is suffering from a debt crisis, cased by insane levels of student loans. Colleges are scamming people left, right and centre. What's worse, society doesn't care.Wages have only increased 67% since 1970, yet student loans are exploding to record levels, year after year. This, along with soaring cost of living, has made it nearly impossible for ordinary millennials who go to college, to become financially independent in the richest country on earth. If you go to college and study most degrees and use the information you learned in your degree in the workforce, the American dream is dead. As an entrepreneur who's looking to hire millennials, I can tell you that most graduates don't have a clue how to help my businesses.Not only that, they're in a constant state of fear and panic. Even if I pay them a great wage, they can't afford to make ends meet due to their obscene student loans, often at high interest rates. They're trying to get married, buy a house and have kids, yet their crippling loans makes it impossible.Because the elites who own the education system have rigged the education system with intense brainwashing for the last 100+ years, colleges no longer need to provide value. They no longer need to help their students make money. They no longer need to help anyone in any way, shape or form.I'm the founder of Gumke University. Gumke University is known for changing the future of education. I didn't do well in traditional education. I wanted to become a multi-millionaire and all the teachers I spoke to about it, were struggling financially. I knew that he needed to find better teachers, outside of traditional education. I wanted to get taught by the people at the top, not their employees. In my pursuit to find the owner of an education company, I found Ekim Kaya, the owner of Kaya Online, the world's largest Amazon training company. I watched Ekim take his business to over 100,000 students and millions of dollars. Many students became millionaires. Thousands of students became financially free. Not everyone was successful, but a much higher percentage than traditional education. All for less than 1% of the cost. I knew that this was the impact I wanted to create. I started to learn high income skills and teach for Kaya Online, having my work translated into multiple languages for Ekim Kaya's 100,000+ students. Within just a few years of learning from Ekim Kaya, I was financially independent. Gumke University was established to help the students get rich on their own terms, without needing degrees. I believe that my students can improve their health, happiness and quality of relationships, by becoming financially free. The younger the students can achieve this, the better. Unlike many other universities, Gumke University adapts to changes in the marketplace and Gumke University focuses on tangible results, not theories. Gumke University succeeds when students make money, not when they correctly answer questions about the curriculum. The reality is that some students win, even if they don't know everything in the curriculum and other students lose, even if they know the entire curriculum. The difference comes down to the mindset of the individual student.At Gumke University, all training programs are set up in a step by step system that helps the students succeed, not just the owners of the university. Of course, I want to succeed as well, but I measure my success by the success of my students. Learn how to avoid student loan scams and becoming another statistic!


Ways to Prevent the Student Loan Scam

Ways to Prevent the Student Loan Scam
Author: Richard Kane
Publisher: Independently Published
Total Pages: 0
Release: 2022-10-02
Genre:
ISBN:

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Scams involving the cancellation of student loans have increased following the announcement. Here are the warning flags to look out for and some tips for protecting your personal data.


Selling Out Students

Selling Out Students
Author: Student Borrower Protection Center
Publisher:
Total Pages: 0
Release: 2023
Genre:
ISBN:

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This report exposes a scheme by the failed for-profit coding bootcamp Make School, Inc. (Make School) and Dominican University (Dominican), a private, nonprofit college based outside of San Francisco. The report finds that Make School and Dominican drove hundreds of largely low-income students to each take on thousands of dollars of predatory private student loans and, for some, federal student loans, through promises of a high-paying tech career. Within this scheme, the report alleges that Dominican and Make School joined forces to mislead accreditors, state regulators, and prospective students about the education and financing these entities provided--all to ensure Make School would gain access to federal student aid dollars, despite its public track record of illegal practices. This report follows a July 2021 lawsuit supported by the Student Borrower Protection Center (SBPC) wherein 47 former students sued Make School and its private lending partner, Vemo Education, Inc., alleging that the two firms “jointly engineered a predatory and exorbitantly high-cost” private student loan program. During the course of the investigation that led to this report, SBPC sent a letter to U.S. Department of Education officials outlining a wide range of illegal practices committed by both Dominican and Make School, calling on the officials to immediately cancel all federal student loans made to students who pursued a degree through this scam program, and urging the Biden Administration to take action against Dominican University for its role in this scheme.


The Student Loan Scam

The Student Loan Scam
Author: Alan Collinge
Publisher: Beacon Press
Total Pages: 196
Release: 2009
Genre: Business & Economics
ISBN: 9780807042298

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In this in-depth exploration and expos of the predatory nature of the student loan industry, Collinge argues that student loans have become the most uncompetitive and oppressive type of debt in American history. In this clarion call for social action, the author offers pragmatic solutions.


High Risks and Emerging Fraud

High Risks and Emerging Fraud
Author: United States. Congress. Senate. Committee on Governmental Affairs
Publisher:
Total Pages: 124
Release: 1995
Genre: Business & Economics
ISBN:

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These hearing transcripts present testimony on the high risks and emerging fraud in several areas of the federal government, including the Student Loan Program of the Education Department (ED), the Multifamily Housing Program of the Department of Housing and Urban Development (HUD), and Internal Revenue Service (IRS) tax return filing. Testimony was heard from concerned senators and government officials responsible for risk management and fraud in these departments and agencies. Current and possible solutions to risk management and fraud were discussed. Opening and/or prepared statements were given by: Senators John Glenn, Byron L. Dorgan, Jim Sasser, William S. Cohen, and William V. Roth, Jr. Testimony was heard from: (1) the special assistant to the comptroller general and the director of tax systems issues, General Accounting Office (GAO); (2) the commissioner, deputy commissioner, and other officials of the IRS; (3) the deputy secretary, inspector general, and other officials of ED; and (4) the inspector general, assistant inspector general for audit, and other officials of HUD. An appendix contains the prepared statements of several witnesses, along with written questions and answers from officials of GAO, ED, HUD, and the Department of Treasury. (MDM)


Solving the Problem of Scholarship Scams

Solving the Problem of Scholarship Scams
Author: United States. Congress. Senate. Committee on the Judiciary
Publisher:
Total Pages: 78
Release: 2001
Genre: Social Science
ISBN:

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Abuses in Federal Student Aid Programs

Abuses in Federal Student Aid Programs
Author: United States. Congress. Senate. Committee on Governmental Affairs. Permanent Subcommittee on Investigations
Publisher:
Total Pages: 536
Release: 1990
Genre: Default (Finance)
ISBN:

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Abuses in Federal Student Aid Programs: Without special title

Abuses in Federal Student Aid Programs: Without special title
Author: United States. Congress. Senate. Committee on Governmental Affairs. Permanent Subcommittee on Investigations
Publisher:
Total Pages: 648
Release: 1990
Genre: Default (Finance)
ISBN:

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