Member since Apr 16, 2010



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Re: “School of Hard Cash

Thanks for bringing this to light Zach. One clarification with respect to the model we constructed showing, on average, taxpayers pay $9.5K for each year a student attends a public university and gets a check for $0.5K for year a student attends a for-profit. This model includes average default rates for each institutional type. Overall, students loans are a profit center. That's why the federal government grabbed them from the independent lenders. The only time the taxpayer is substantially at risk is when a loan defaults. As I said, default rates are the property of borrowers. When working adults attend a public, private, of for-profit school, they have the same low default rate. When struggling members of the underclass attend a for-profit, community college, or other public institution, they have the same high default rate.

All of this said, there is much more public universities can do to manage their budgets better. BSU is needlessly losing millions this year, wasting millions more, and the rate of loss is increasing. A Briefing entitled "An alternative to begging . . ." can be found on our website. Robert W Tucker, President, InterEd, Inc.

Posted by Robert.Tucker on 04/16/2010 at 11:52 AM

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