I am going to continue to shove these three telephone conversations under your nose.
They are between me and GC services, a private company debt collection ageny "Vendor" that was hired by New York State Higher Education Services to collect on my defaulted Student Loan debt in 2009.
GC Servies tacked Fifty thousand dollars onto my student loan balance, and profited handsomely in my opinion. Here is the website of GC Services. You can check it out, but you will not learn much about them:
http://www.gcserv.com/
Please listen to these conversations.
Charlotte even mentions how Democrat Bill Clinton set up the William D. Ford Program.
But look, the Student Lending Industry is a phantom industry in a lot of ways. Can any of you out there really explain it?
Student Loans get sold and re-sold and moved around, and money is made.
It goes without saying that too much government involvement in Higher Ed. and too much readily available taxpayer dollars has led to abuses, and has driven the cost of a Higher Education up to prohibitively high levels.
And so I ask: Is that tax and spend Liberalism at its worst?
And, after 30 years or so, we are finally seeing the back end, or rather the results?
Results that no politician can ignore anymore no matter how much the media tries to suppress the broken Student Lending System ; the Elephant in the Room?
With no risk to the lenders, or Academia, and all the risk on the shoulders of the student and taxpayer, why wouldn't the people, parties, and entities that stand to profit the most from all this, try to keep the public ignorant of the problem?
But this problem is not limited to just a relatively small ratio of indebted former students.
Because every taxpayer in America is picking up the tab.
I would hope that restoring consumer Bankruptcy Protections for Student Loans would give pause to a lender, and ultimately drive education costs down, instead of, for example funding ridiculously lavish buildings and facilities, and ridiculously high acdemic salaries, and ridiculous and inconclusive house organ (i.e. Law Review or most any other academic journal) scholarship.
As for the title of this post-- it is true is it not? Anyone who dreams of going to College or to Law School, and has to take out Student Loans to do so, is really, in effect sticking a gun to his or her head or in the mouth.
Yes, the Usury that is going on today with respect to Student Lending is that bad.
If I could go back in time, and knowing what I know now, I would never have taken out student loans for what turned out to be a perpetually 4th tier Law School.
My life is over, but your life can be saved.
Do not take out student loans. They are a Scam, and you will have no human rights protections against predatory lenders for basically most of the rest of your adult life.
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