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Corinthian Colleges Inc Message Board

  • blueskydriving blueskydriving May 8, 2013 10:53 AM Flag

    Davenport ... your last attempt did not post


    And, I'm really interested in whatever you may have attempted to post ... I don't usually post on a board for long (except maybe one at a time because the conversation interests me) ... but, you've got me interested here ... I've got to get back to some yardwork now but I would be very interested in why you think COCO and for-profit is so different ... I understand your premise that they are taking efforts to artificially make the enrollment numbers or default rate numbers look that best that they can ... but, how is that different than every other organization on the planet including the US government with unemployment rates ... it is human nature to do what you legally can to look the best that you can ... if deferring a loan keeps the loan out of default and makes COCO look better, than that is operating within the framework of the data as the government established it ...

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    • Please read the Motley Fool article covering same subject, Title IV funding.

      I don't know if you have heard, but we have all of the following in play:

      1 Government financial crises. Budget issues.

      2. A Student loan debt bubble ready to burst. This is being compared to the mortgage bubble with FPE funding being identified as the "subprime" component. Have you heard of any of these items or are they all new to you in Reality Free land?

      3. Massive student failures where students are effectively bankrupt for life but can't declare same. Have you heard the ubiquitous (i.e. not isolated) stories of medical administrators making $30 per hour with $40,000 in student loan debt? Those of course are the lucky few ones that a) graduated - most don't, and b) got jobs. Do you think that the Government who is funding and thereby promoting these failures is just going to sit back and say whatever happens is private business? It is not. It is asymetrical capitalism at its worst!

      So not only is Title IV funding at risk, the entire industry is at risk to be cut off from massive funds, regulated to the point of being chocked out of business, and sued by the Feds, States, Federal Agencies, and privately by students. You think the students in group 3 above are not at some point going to show up in court asking for damages to cover their life long financial problems?

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