Internetworkers: http://www.ibiblio.org/internetworkers/

[internetworkers AT lists.ibiblio.org (Joey O'Doherty)]

FYI, I just saw this on nolo.com:

Many former students were lulled into taking out student loans to attend a
trade school, only to have the school doors close before they could finish
the program. Other students were falsely certified by school officials as
being able to benefit from the loan. If this happened to you, you may be
able to cancel 100% of your federal student loan.


On Wed, 5 Feb 2003, 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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