After reading Steve's column, I'm sure you will agree with him that this mother's son is a jerk!
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|Before the deluge: Photo Credit Yale Center for British Art|
The only real difference between Senator Warren's proposal and the existing forgiveness feature in the student loan program is whether the forgiveness comes in a fell swoop or is dribbled out over time. Given the federal government's infinite time horizon, the difference is really just an accounting matter.In other words, to baldly state the point, millions of student-loan debtors aren't paying back their loans and never will. Probably half of the $1.56 trillion in outstanding student loans will never be paid back.
|Student-loan debtors: The new sharecroppers|
|Megabank CEOs: "We don't know nothin' bout no student loan program."|
|President Capilouto--Mr. Sensitive--makes $790,000 per year.|
|Andrea Ballinger, LSU's former chief technology officer|
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|Felicity Huffman (photo credit: David McNew/ AFP/ Getty Images)|
The non-profit school benefits from the elimination of the for-profit stigma, reduced regulations, elimination of taxation, and eligibility for more state and charitable grants. Meanwhile, the for-profit, and its owners and executives, get to siphon off a lot of the revenue, much of it from taxpayer-funded grants and loans.Thus in the fairyland world that Betsy DeVos has created, Brian Mueller wears two hats. He is president of Grand Canyon, a non-profit entity. He is also CEO of the university's parent for-profit corporation, Grand Canyon Education. GCE trades on NASDAQ at $115 a share and reported a profit margin of 27 percent at the end of 2018.
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