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Virginia General Assembly Passes Democratic Bill to Protect Workers Struggling with...

From the Virginia House Democratic Caucus: General Assembly Passes Democratic Bill to Protect Workers Struggling with Student Loans RICHMOND, Va. – Both chambers of the Virginia General Assembly...

AG Mark Herring Condemns US Dept. of Education Rollback of Student...

From AG Mark Herring's office: ATTORNEY GENERAL HERRING CONDEMNS U.S. DEPARTMENT OF EDUCATION'S ROLLBACK OF STUDENT LOAN SERVICING REFORMS ~Attorney General Herring joined 21 attorneys general...

Virginia GOP Kills Student Loan Re-Financing Bills

From the Virginia House Democratic Caucus: GOP Kills Student Loan Re-Financing Bills RICHMOND, Va. –  A Republican-controlled subcommittee today killed two pieces of legislation that could...

Would You Like Fries With Your For-Profit Education?

The for-profit "education" charade trots out two more pathetic claims. Minority students are "shut out" of the public higher education system and the higher student loan default rate of "career college" attendees is the government's fault. These institutions are nourishing their prey through a government subsidized free market ponzi scheme.

One shame in all of this, completely missed by the apologists (including Brian Moran) is that without federal grants and loans, these parasites could not exist at all; the market would do due diligence. Ignored by champions of the market are the realities of the market itself which in a complex world holds nothing ceteris paribus. Adam Smith's invisible hand is unencumbered by the flaws and shortcomings of human perception shaped in each individual's basket of experience. Smith lived in an essentially agrarian economy where those participating in the market had equal access to information; sometimes equally uninformed.

Citing a study conducted by the Virginia Career College Association, Jim Bacon argues that without the private sector, minority students would be "shut out of the higher education system." There are some seductive numbers. In 2008, 13.8% of students attending public institutions were African-American while 47.4% of the students enrolled in for profit schools were African-American. Clearly this was an attempt to appeal to undiscerning liberals and embolden righteous conservative free marketeers. However, Bacon is actually arguing that the market failed. That those who failed selection to the credible educational institutions were somehow maligned by the all knowing market forces. Uninformed, those failed applicants, the vagaries of the market misinterpreted, flock to the web of the private sector parasites.  

Cuccinelli Missing From Joint Prof-in-a-Box Fraud Probe

Busy investigating college professors at traditional colleges, Ken Cuccinelli is absent from the honor roll of Attorneys General out to put a halt to one of the largest fraud schemes in American history. Bilking the federal government and students out of billions of dollars doesn't appear on his radar screen.

The probe, led by Kentucky Attorney General Jack Conway (D) is focused on bringing attention to potential violations of consumer protection laws by for-profit "colleges". This may finally bring the sort of well-deserved scrutiny to the abuse of federal student-aid and loan programs perpetrated by an industry that is little more than an educational front for a money laundering charade.

"A lot of people who are in Washington right now want to run around talking about fiscal responsibility. Well, making certain that $25 billion in federal education dollars doled out is being spend in a way that appropriately trains people and prepares them for job opportunities that are out there ... That, to me, is a fiscal responsibility issue." - Attorney General Conway to the Huffington Post