@Evergreen -

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The students who are the objective in this scheme are unaware of the mechanisms and purposes of the funding. They're 18 to 20 year-olds who largely cannot process the math to understand what a loan obligation truly amounts to in the first place. They are sheep headed for the shears. The government is precisely the evil villain in this scheme, so awarding said villain with extra powers to police and void degrees is signing up for an even more hellish and bizarre outcome.

Excuse me, but at 18 you're a legal adult.

Now if you wish to argue fraud (and there was plenty) then fine -- let each of them who claims they were unwitting victims (of which I'm sure there are many) make THAT argument. Fraud vitiates ALL contracts, so if they can show it they can shove it back up the University's asshole. But, this is, I'm reasonably sure, a minority.

Further, what part of my original proposal did you not read? Specifically:

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The Federal Government gets entirely out of the college financing business. If colleges want to underwrite and carry the paper they can, at whatever price they want. Ditto for private lenders. The above two checks and balances will make very certain that nobody lends more than can, on a risk-adjusted basis across the pool of students, be paid and thus the price of the education will reflect the actual value in the marketplace.

I have a VERY low tolerance for people who claim to enter a debate around here and DELIBERATELY misrepresent what is under debate. I usually don't give warnings either.

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