>>519563355
they worked with Salliemae and others to reward colleges to prefer them. They lobbied republicans with LOWER PRICE TAGS to fall for their pitch or straight up rewarded them with trips/gifts.
Most of the student debt is carried by for-profit college students. Colleges got 90% of their funding from the US GOV and the other 10 % they scammed out of veteran GI BILL or bad private loans.. or even 'scholarships' which were no better than discount coupons.
They charged as much as Harvard for quality lower than community college.
Students had no legal recourse. Colleges paid recruiters to straight up lie to lure in desperate people with impulse programs who had never gone to college or knew how the loans worked.
Salliemae would even own both the guarantor and the collection company. They would push borrowers to default so they could garnish without a court order and not have to work with borrowers. Ted Kennedy tried to fix it with its own bill but ended up having to put it in Obamacare. Student lenders became middlemen. But the services still wanted it to fail and dragged out full out settlements for students to try to make it so they couldn't recover funds in SVC. Somehow even after SVC Salliemae got to keep the money.
I was one of the cornerstones that got the Sweet vs Devos case case going.