https://www.theatlantic.com/education/archive/2018/06/an-alternative-to-student-loan-debt/563093/ … lmao indentured servitude
-
Show this thread
-
also this reads like some weird apologetic piece papering over how shitty unaccredited institutions can be, did we seriously forget about ITT already
1 reply 0 retweets 0 likesShow this thread -
Replying to @peixianw
If that’s indentured servitude what are student loans?
1 reply 0 retweets 0 likes -
Replying to @AustenAllred
government backed monetary vehicle to enable students to gain knowledge at (usually) accredited institutions, where classes can generally be transferred between one institution and others?
1 reply 0 retweets 0 likes -
Replying to @peixianw
I can take out $200k of student loans to study American Sign Language at the University of Phoenix. Good to hear that accreditation solves all the problems.
1 reply 0 retweets 1 like -
Replying to @AustenAllred
if the University of Phoenix shuts down and I was a student, my classes transfer to another university, I’m not on the hook for my loans there, etc. Accreditation is hardly a panacea, but it’s hell of a lot better than the wild west of education
1 reply 0 retweets 1 like -
Replying to @peixianw
The problem isn’t not getting a degree, it’s getting a worthless degree. If a school with an income share agreement shuts down you never pay them anything. If you don’t get a job the school with an income share agreement gets nothing.
1 reply 1 retweet 2 likes -
Replying to @AustenAllred
I’ll take you for your word that when a income share agreement terminates you’re released from your debt obligations, although these terms aren’t legally regulated. Bootcamps don’t solve the worthless degree issue, unless “not offering humanities degrees” is a solution
2 replies 0 retweets 0 likes -
Replying to @peixianw
There are no debt obligations; it’s a contract, and yes contracts are highly regulated.
2 replies 0 retweets 1 like -
Replying to @AustenAllred
I’m skeptical of this, although willing to change my mind. Most income share agreements that I know of through colleges have been done on a ad hoc basis (like Perdue’s). I couldn’t find any USC corresponding to regulations on bootcamp ISA’s, could you point me to an example?
1 reply 0 retweets 0 likes
Perdue works with Vemo which seems to have about as many lawyers as any other type of role. Compliance is the hardest part, because there’s no “ISA Law” but there are dozens of others. All contracts are regulated by contract law, ISAs included.
-
-
Replying to @AustenAllred
There aren’t specific provisions regarding deferment or forbearance though, correct? Contract law is regulated, but using that as a jump to say “ISAs are regulated” feels far too close to ITT’s policies for comfort.
1 reply 0 retweets 1 like -
Replying to @peixianw
That’s a part of the ISA, and everyone uses the same template
0 replies 0 retweets 0 likes
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.