Does your candidate have a strong stance on the economics of education?

[RuleOfNah]

This question is more nuanced than who loves education.

I'm trying to pick a Primary vote next month and in my Education column one finds the following issue, nestled in an S&L Crisis or Mortage Crisis or general purpose Shock Doctrine frame.


Legalized Loan Sharking: The Sleeper Issue of 2008
http://www.commondreams.org/archive/2007/08/18/3245/

The Student Business
http://www.commondreams.org/views06/0513-21.htm

The Student-Loan Scam: Under a Republican Congress, For-Profit Lenders Pursued Their Own Interests — Often With The Help of Colleges.
http://www.commondreams.org/archive/2007/04/10/422/

The Real Scandal of Student Loans
http://www.commondreams.org/archive/2007/04/13/491/

Kennedy Rips Bush Plan to Let College Loan Rates Float
http://www.commondreams.org/headlines02/0429-04.htm

Students Resort to Private Loans, Staggering Debt
http://www.commondreams.org/headlines06/1025-03.htm

Student Borrowers Often Victims of Serious Abuse
http://www.commondreams.org/archive/2007/09/05/3637/


Even 60 Minutes dared mention it.

Are you interested in a new career? Are you looking for specialized training and a high-paying job in computers, fashion or health care?

Well, a lot of people must be, because companies selling that dream, the for-profit career colleges, are one of the fastest growing area in the field of education.

It’s a multi-billion dollar business with most of the revenues guaranteed by the federal government, and until recently the industry was the darling of Wall Street.

Now, it’s under scrutiny, with one of the biggest players facing allegations that it deceived investors, the federal government, and students, who say they’ve been taught a very expensive lesson.

http://www.cbsnews.com/stories/2005/01/31/60minutes/main670479.shtml

[readmoreoften]

1. I was scammed by NYU. Their settlement was bogus too.

They illegally denied me a government-based loan (my income was below the poverty level) and pushed me into a high-interest, adjustable private loan or told me I had to drop out (or pay $2200 to take the semester off to earn the money to come back).

In their settlement they agreed to give the money back to students. Meaning, they earmarked money for "students" and never told us where it was, how to file a grievance or collect upon this mystery money. In other words, they gave the money back to themselves.

[sandnsea]

2. Obama supports direct loans

I haven't heard anything about some of these phony schools from any of them though.

http://www.yaledailynews.com/articles/view/21070

[RuleOfNah]

5. Would Obama support busting perps?

Not the students taking out loans. I mean busting the organizations committing the fraud.

Edwards might say yes and might even try to do so if elected. I assume Kucinich and Gravel would too. Would Obama? Would Clinton?

People have suffered fraud (see this very thread for at least one personal account). That's why I am hoping for more than promises of aide. I want perps to be held accountable, if only as a future deterrent. This is a systemic problem that money alone will not fix. In fact, the education revenue stream is siphoned by those complaining about the government spending (that feeds their fraud).

[sandnsea]

7. He was the first to introduce mortgage fraud legislation

Just because the Clinton campaign said he was the same as her, doesn't make it true. Edwards said Obama supports change, remember?

http://obama.senate.gov/press/070425-obama_durbin_in/

[RuleOfNah]

8. "mortgage fraud legislation"

That's great news, thanks!

I apologize for knowing so little about the top three. The responses so far have been very informative, thanks!

[Viva_La_Revolution]

3. Here's Edward's plan...

Edwards Announces College Opportunity Agenda
May 11, 2007

In addition to College for Everyone, Edwards proposed a series of initiatives to help students prepare and apply for college as part of his College Opportunity Agenda. Edwards would:

Help simplify the application process for student aid and would help every low-income high school eligible for Title I hire a new college counselor, helping students choose college-track courses and navigate the admissions and financial aid process.

Require all students to borrow directly from the Department of Education, which would eliminate bank subsidies on student loans and free up almost $6 billion a year to make college more affordable.

For more information, please read the fact sheet here - http://www.johnedwards.com/news/headlines/20070511-college-opportunity/

[FrenchieCat]

4. Obama......

Create the American Opportunity Tax Credit: Obama will make college affordable for all Americans by creating a new American Opportunity Tax Credit. This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university and make community college tuition completely free for most students. Obama will also ensure that the tax credit is available to families at the time of enrollment by using prior year's tax data to deliver the credit when tuition is due.

Simplify the Application Process for Financial Aid: Obama will streamline the financial aid process by eliminating the current federal financial aid application and enabling families to apply simply by checking a box on their tax form, authorizing their tax information to be used, and eliminating the need for a separate application.

pdf file of Obama's Higher Education plan. Discusses eliminating costly Bank Loan subsidies programs.
http://www.barackobama.com/issues/pdf/CollegeAffordabilityFactSheet.pdf

http://www.barackobama.com/2007/11/07/remarks_of_senator_barack_obam_31.php
Video on Barack's education speech
----------------------

Obama has been a leader on educational issues throughout his career. In the Illinois State Senate, Obama was a leader on early childhood education, helping create the state's Early Learning Council. In the U.S. Senate, Obama has been a leader in working to make college more affordable. His very first bill sought to increase the maximum Pell Grant award to $5,100. As a member of the Health, Education, Labor, and Pensions committee, Obama helped pass legislation to achieve that goal in the recent improvements to the Higher Education Act. Obama has also introduced legislation to create Teacher Residency Programs and to increase federal support for summer learning opportunities.
http://www.barackobama.com/issues/education/#higher-education

Some of his accomplishments in his 8 years in the State Senate here: http://obama.senate.gov/press/070620-higher_educatio/

-----------------------
Assertive action against by Obama against predatory lending practice
http://www.ft.com/cms/s/0/9fd5e4de-558e-11dc-b971-0000779fd2ac.html?nclick_check=1

http://thinkonthesethings.wordpress.com/2007/10/18/obama-demands-investigation-into-subprime-loan-discrimination/

[RuleOfNah]

6. "Assertive action by Obama against predatory lending practice"

That is great news, thanks!

Hopefully that approach to the subprime mess is easily applied to prosecuting the student loan mess...

[JDPriestly]

9. Edwards will overhaul the student loan program.

# Overhauling the Student Loan Program: Banks that make student loans receive large federal subsidies and a guarantee against default. However, millions of students have borrowed directly from the U.S. Department of Education, receiving loans that have very similar terms but are far less expensive for taxpayers. Edwards will let all students borrow directly from Education. By eliminating bank subsidies on student loans, he will free up almost $6 billion a year to make college more affordable.
# Simplifying Financial Aid: The application for student aid, known as the FAFSA, is needlessly complicated and longer than many tax forms. Many students and families need classes to help fill it out, and 1.5 million high school students do not apply for aid even though they are eligible. Edwards would dramatically simplify the application process by using information the federal government already has, eliminating two-thirds of the questions.
# Giving Students the Tools They Need to Apply for College and Aid: Financial aid alone is not enough. Too many students lack the encouragement and guidance they need to apply to college. In some large cities, a single counselor must serve more than 700 students. Edwards will help every low-income high school eligible for Title I hire a new college counselor, helping students choose college-track courses and navigate the admissions and financial aid process.

http://www.johnedwards.com/issues/education/college-for-everyone/

[RuleOfNah]

10. Would Edwards haul perps too?

Thank you for the info on the Edwards goals for financing education (you too Viva_La_Revolution). I think that is great news!

However, the critical Education question under current consideration (for this fringest) is: would Edwards prosecute past perps? Funding education is wonderful. My concern is centered on the organized vampires (who should have less food and more sunlight).

[JDPriestly]

11. I am not aware that Edwards has said anything about this.

He has answered a lot of voters' questions, so he may have talked about it.

I anticipate that Edwards will have the most consumer friendly (including borrower friendly) White House ever, ever, ever. Consumer issues have been central to his life.

The Bankruptcy Bill needs to be amended to protect students from unscrupulous lenders. One of the worst things about the recent Bankruptcy Bill is that it broadened the definition of the loans that may be excluded from a discharge in bankruptcy to include virtually any loan that has any suggestion that it is related to education. This is a huge bonus for unscrupulous lenders. An impoverished debtor cannot be released from the burden of a student loan in bankruptcy and with the broadened definition of student loan, who knows that that includes. This is a horrible situation.

[RuleOfNah]

12. "a huge bonus for unscrupulous lenders"

And it is not a problem for students alone. That is why I framed the Education issue as I have, because throwing more money into a criminally laced hole isn't a fix, neither is ignoring deep systemic problems.

It looks like an approximate tie between Edwards and Obama on this issue, for me, so far, although candidate supporters can always post more.

Thank you for providing information on the Edwards position. Feel free to comment on the Military thread or any of the other "does your candidate" that I'll be journaling between now and next months Primary.

[JDPriestly]

13. Edwards dealt with that issue tonight.

He is not going to let these creeps who steal from students and first-time homebuyers go free. His biggest fault is the way he really cares for people who have been taken advantage of. That is his life mission -- to fight for the downtrodden.

[RuleOfNah]

14. "cares for people who have been taken advantage"

That is great news, thanks again. I don't watch the debates because I am old fashioned. I like my debates to be real debates, not prerehearsed ping pong practice.

I suspect when I am done with this series of threads, Edwards will get my vote, if only because he seems to be claiming the law and order position among Democratic Presidential candidates. The underlying theme of all my 'does your candidate' threads will be enforcement of law, prosecution of criminals. However, I haven't given up on any of the candidates yet, hopefully their supporters will follow your wonderful example. :)

[RushIsRot]

15. Strong-stance trumps wide-stance most of the time. But, then again,

MY candidate has not been allowed to express what his stance is in most public forums.

[RuleOfNah]

16. The stance of your candidate is welcome here, very welcome.

This isn't a top thread, few will have reason to complain. :)

However, if your candidate is a Republican (especially wide stancer Larry Craig), it probably wouldn't be safe.

I'm hoping you are referring to Gravel or one of the less represented 2008 Democratic Candidates for President. I need to hear from all the (D) via their supporters before next month so I can decide who gets my Primary vote.