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  • From: internetworkers AT lists.ibiblio.org (David Minton)
  • Subject: [internetworkers] radio spam
  • Date: Wed, 05 Feb 2003 15:34:24 -0500

Some are even worse than you suspect. They are all about helping people get
student loans to take the courses. The least honorable file the paperwork
for the students, and receive the tuition money--all up front. Then, they
seem to go out of business, leaving the student without the training or
certification, but with an obligation to pay the loan.

At least that is what I saw on one of the local evening news a while back.

David

On 2/5/03 3:26 PM, "Thomas C. Meggs" <tom AT plik.net> wrote:

> Absolutely, and it makes me sick.
>
> Right when the job market is at its worst because the economy is shit,
> you have an upsurge of desperate people who aren't that intelligent who
> heard about this person or that person that they know who made a lot of
> money in computers, so they want to do it too. These places are loan
> sharks playing off people in need. They aren't the only or the first,
> and they won't be the last.
>
> Overall, my rule is to never trust anyone with a big advertising budget,
> they probably have something to hide or an inadequacy to make up for. ;)
>
> Regards,
> Tom
>
> Thomas Beckett wrote:
>> Maria stated:
>>
>>> The worst part in my opinion, however, is that many
>>> of those companies finance the classes. So you end up with people
>>> who can't really afford it owing several thousands of dollars only
>>> to find that employers are less impressed with a certification than
>>> they are with experience (and more education).
>>
>>
>> And /that's/ the racket. The real business here is the loan
>> financing. The classes are simply a vehicle to create a
>> receivable. The schools have direct relationships with the lenders
>> and simply serve as funnels for the creation of new debt. The
>> school gets cash from the lenders who originate the loan. The
>> lenders turn around and resell the loans to bigger institutions or
>> Sallie Mae and pocket their cash. The students who get (usually
>> piss-poor) training have no recourse when they can't pass the
>> certification exams or can't get a job later.
>>
>> It's not about training people for new careers. It's about
>> taking their money. It's a scam.
>>
>> TaB
>>
>>
>>
>> ---
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>
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