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[1] http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objecti...
This converts receivables into cash by selling them a third party at a discount. This doesn't prevent the educational institutions from getting their cash.
Not sure how it works in the US.
Around the world many institutions use factoring. https://en.wikipedia.org/wiki/Factoring_(finance) This converts receivables into cash by selling them a third party at a discount. This doesn't prevent the educational institutions from getting their cash. Not sure how it works in the US.
Thats how its supposed to work, in the UK at least. Student Loans are like a distributed tax that only gets paid by the grads who earn enough to repay. edit: Also, in the UK, once you do earn enough, payment is automatic via deductions from payslips.
Around the world many institutions use factoring. https://en.wikipedia.org/wiki/Factoring_(finance) This converts receivables into cash by selling them a third party at a discount. This doesn't prevent the educational institutions from getting their cash. Not sure how it works in the US.
The Department of Education sold my loan to a private company within a year or so of graduation. No rate change or anything, I just started logging in on a different web site to pay. Same thing with my wife and with many people I know.
If you don't believe the notice you are given, you fail to pay. If you do believe whatever notice you get, you are vulnerable to fraud.
Sorry, but when there is no testing to determine if they borrowers can even complete the course of study they have chosen why should we expect any other result? If you wanted the best example of why college education should not be free this is it. I am all for community style colleges that could be free or heavily discounted but the idea that people can simply choose ask for their degree be paid for without first dem…
Also, couldn't we set the number of (free) admissions to certain areas of study based on the national need for those professions?
To everyone complaining about the paywall, try hitting the "web" link at the top of this page (to the left of the story comments link)
Thats how its supposed to work, in the UK at least. Student Loans are like a distributed tax that only gets paid by the grads who earn enough to repay. edit: Also, in the UK, once you do earn enough, payment is automatic via deductions from payslips.