By David Burge
Thank god we’re finally addressing the plight of America’s most disadvantaged community, Harvard Law graduates
Lawrence Tribe is University Professor Emeritus and former Carl M. Loeb University Professor at Harvard Fucking Law School. He’s the one saying “thousands of my former students” are making less than $100k, not me
I mean, it’s kind of surprising to learn there’s that many Harvard Law alumni living paycheck to paycheck in a doublewide, working double shifts at Waffle House to pay their crushing student loan payments, but I guess Professor Tribe is the expert here
Fact of the matter is, grads of elite colleges like Harvard aren’t the beneficiaries of loan forgiveness. Harvard has a negligible (1.1%) fed student loan default rate. And I do have sympathy for people who took out a loan, at 18-22, for the magic beans of a college diploma.
Like I said yesterday, the rogue’s gallery of “colleges” with insane fed loan default rates are proprietary for-profit places, particularly barber & cosmetology schools, some approaching 70%. They prey on naive young people and should be blackballed from more fed student loans.
Here’s bottom of the barrel, a list of “colleges” with fed student loan default rates of 40% and higher. They are less colleges than they are long cons to use naive 18 year olds to
The next group of colleges that have high loan default rates tend to be public community and vo-tech schools, many in economically depressed areas. Again, I have sympathy for those saddle with student loans for these schools.