Equally Critical, Eric Holders Justice Department Must Aggressively Take Up The Daylight Robbery By Many For-Fraud Colleges & Universities! With reckless abandon, millions of hapless students and taxpayers are daily defrauded and abused by for-fraud colleges and universities pathetically calling themselves for-profits. In a free-enterprise economy such as ours, profit is a natural reward for entrepreneurship and risk-taking, but nothing entrepreneurial or risk-taking comes out of these for-frauds. Most for-fraud colleges and universities are no educational institutions at all. They are well-heeled systemic drainpipes for cornering billions in taxpayer monies as Federal Student Loans and using all manner of illegal devices and clandestine manoeuvers to keep defrauding hapless students and taxpayers with incredibly striking impunity. The schemes are many and varied and only keep mushrooming as fast as the seemingly invincible perpetrators feel the need to innovate. Here is one such scheme: For-frauds concoct all manner of ludicrous excuses to build academically indefensible and anti-scholastic barriers in the way of many doctoral students at the dissertation phases of their programs. Thus, they keep sucking millions of dollars in illegal tolls from such students through arm-twisting them to enroll in irrelevant classes alien to the terms and conditions of their contractually agreed programs of study. Students who resist the illegalities are reported to loan lenders/carriers as having dropped out so that premature loan-repayment can be activated and the students intimidated and pressured to cave in. Hence, the continued ballooning of student loans in default now variously put at about $1.3 to $1.5 trillion. Those who cough up the Gambino-style extortion fees are cleared to proceed to graduation without any transparent, significant change to the quality or substantiality of their works. Academy thus ends up littered with deadwoods and half-baked illiterates. Government must not make the grievous mistake of dwelling on and being overly focused on number of Americans graduating to the utter neglect of the quality of such graduates. As at date, the quality of graduates through these for-fraud drainpipes, especially at tertiary level, is appalling to the nth power. By the time government wakes up to the realization, we may be dealing with a much bigger monster, unless due action is taken now. Many accrediting agencies and their operatives are clearly in the know, but too conflicted to decidedly rein in the disgraceful, criminal atrocities going on. Every year, in (ceremonial) commencements with largely no commensurate scholastic substance, thousands of poor-quality doctoral graduates seep into the system. Same goes for undergraduate products. How does one pass on the quality of these graduates? The taste of the pudding is in the eating. I challenge anyone to carry out credible investigation and sampling of these graduates, including professors who profess only their unearned titles, but publish nothing in any journal of repute. Nonetheless, they get retained on tenure and even promoted, as long as they do the bidding of their for-fraud employers; a messy case of fast-food scholarship. In verifiable ways, most for-frauds are Gambino-style contraptions masquerading as educational institutions. When caught in one scheme or another, they simply pay fines, hide behind claims of neither denying nor admitting faults and promptly launch new fraudulent schemes. They do these routinely and with disarming ease. Worse still, they keep making subterranean and open campaign contributions and dispensing other no less criminal favors to some politicians. These compromised politicians reciprocate by zealously pursuing and ensuring legislative formulations that protect their benefactors. Such legislators also provide other forms of moral support; they either appear themselves or send surrogates to deliver patronizing commencement addresses for their for-fraud patrons; a form of image laundering. Despite outcries from concerned stakeholders, only in about the last six months have there been major changes to the tempo of investigations and charges against a number of these for frauds by CFPB, Justice Department and most significantly State Attorneys-General. In all of these, Eric Holders Justice Department must do significantly more (and promptly) to lead a vital onslaught against these cancerous social parasites fraudulently killing the dreams of millions of American students, robbing taxpayers and dampening the prospects of Americas competitiveness in the comity of nations. This is critically more so in a rapidly globalizing age of multiculturalism and multinationalism and their attendant cut-throat challenges of interrelationships among a dueling worlds economies, peoples and nations. While some are, millions of American students are not the dead-beat borrowers that vested interests readily propagate; they are mostly victims of systemic illegalities by many for-fraud colleges and universities. Responsible political leaders have a moral and legal obligation to arrest this ugly trend before it worsens beyond todays already troubling levels. President Obamas initiatives, alongside Elizabeth Warrens, Tom Harkins and others, are a step in the right direction. The next thing is giving the needed bite to the talks. Knowledgeable and willing student representatives should be co-opted into meaningful efforts to unravel the intrigues of these systemic fraudsters. Many students know where the bodies are buried. They also know where the shoe pinches. All they are saying is Act now. news.yahoo/obama-executive-steps-student-loans-233611442--politics.html
Posted on: Sun, 08 Jun 2014 09:38:16 +0000
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