Part II: Student Debt and For-Profit Colleges
In last week’s post, I shared two of my favorite John Oliver “Last Week Tonight” satiric exposés on financial disinterests that can do damage to your retirement and your credit scores. Today, I want to wrap with one more video from this recent Emmy Award winner. I’ve saved the best for last …
College funding is a subject near and dear to our hearts – with a dedicated College Planning category on our blog. Not only are many of our own children currently in college, but it’s one of the biggest financial planning focal points among the investors we serve. Oliver’s Student Debt video is a bit dated, airing in September 2014. But I wanted to share it anyway, not only for the still-important information it contains, but to illustrate how we, the people, may have far more power than we realize to change things for the better … if we remain vigilant.
In his video, Oliver exposes some of the tactics that various for-profit colleges have been using to potentially soak students and taxpayers alike. It’s interesting to note that, today, two years later, all of the then-operational institutions he cites appear to be either already defunct or in the process of becoming so. And the Association of Private Sector Colleges and Universities (APSCU) – the model’s non-profit champion organization – has changed its name to Career Education Colleges and Universities (CECU), perhaps in an attempt to rebrand its Oliver-tarnished image.
The point is, sometimes a little grassroots havoc can go a long way in effecting improvements. It may take longer than we’d like, but it’s important to not give up. As the November elections draw near, remember that; it’s evidence that every vote counts. It’s too bad Oliver can’t vote. (He’s still a Brit.) But you can – and should.
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