While President Obama’s former spokesman, Robert Gibbs, manages a national public relations campaign against teachers unions, the National Education Association (NEA) has finally decided it has had enough of Team Obama’s union busting. The NEA has now called on Education Secretary Arne Duncan to resign.
|By: DSWright Tuesday July 8, 2014 6:45 am|
|By: David Dayen Friday July 20, 2012 3:50 pm|
The Consumer Financial Protection Bureau has delivered a report to the Senate Banking Committee on the rise of the private student loan industry. This industry took a hit after 2010, when the Affordable Care Act included a provision that ended the practice of private banks administering student loans guaranteed by the government, and just had the government issue the loans themselves. Private student debt origination grew from $5 billion in 2001 to $20 billion in 2008, but after the 2010 law, the market contracted to under $6 billion. The recession and tightening credit standards also had something to do with that.
But those loans from 2001 to 2008 are still out there, for the most part, particularly from the 2005-2007 period. And just like in the housing bubble, this period was characterized by reduced underwriting standards and a kind of “subprime” market.
|By: David Dayen Monday April 16, 2012 8:20 am|
If you want to know Mitt Romney’s real plans for a hypothetical Presidency, you either have to give him lots of money, or be lucky enough to stand on the street near the backyard where he talks to people who give him lots of money. The incompetence of allowing the press to listen in on Romney’s speech is a bit more newsworthy than the content itself, which is more standard-issue modern Republican fodder.
|By: David Dayen Friday September 23, 2011 2:20 pm|
The Obama Administration released its plan for the future of No Child Left Behind. In the absence of new legislation to fix the the original bill’s demands, the Department of Education will issue waivers to public schools that meet a particular set of guidelines.
|By: Ruth Calvo Friday November 26, 2010 9:25 am|
There is a particularly egregious sheen to the shilling of education that the for-profit institutions exercise. When it cheats the educational system out of badly-needed funding while taking advantage of potential workers, it is a crime.
|By: Peterr Monday August 16, 2010 8:45 am|
Nelnet improperly exploits a loophole in the student lending regulations for years, and then last Friday afternoon settled a $1+ billion student loan fraud case for $55 million, just as college students head back to campus. Lovely.
But I’m sure that nothing like this could happen with insurance companies and the Health Insurance reform regulations, or the Wall Street firms and the FinReg rules . . .
Welcome back to campus, everyone.
|By: masaccio Thursday March 11, 2010 2:30 pm|
Why should the government support the failed business model of Sallie Mae and other student loan finance companies like Citi and JPMorgan Chase? Why isn’t that money going to help students pay for their education?
|By: masaccio Tuesday March 9, 2010 11:45 am|
Sallie Mae gets cheap money to make guaranteed student loans, and there is a buyer who will pay face value. Surprise: it’s your government. It’s up to Congress to stop this practice and quit acting like saps.