Student Loan Scam - Coast To Coast AM - 5-27-2011 / 5-28-2011

This is the full five (5) hours of hour of the Fri27-Sat28 May 2011 espisode of Coast To Coast AM: http://www.CoastToCoastam.com -and the audio was recorded off the air by Youtube user: MrSuperPotatoTomato
http://www.youtube.com/user/MrSuperpotatotomato

http://www.youtube.com/watch?v=ZK2rLwM_i6k

PS: There appear to be gaps or breaks, but I had to put in audio that was missing -- and I used the channel of http://www.youtube.com/user/MrThemastercleanser and audio from sources such as this link:

http://www.youtube.com/watch?v=I6qcxjkD9Ao




It is believed that this show is not posted in violation of copyright, based on a close scrutiny of the 'Copyright' link on Coast To Coast's website:
http://www.premiereinteractive.com/legal/#trademark which says in relevant part that I "may not, and agree that you will not, reproduce...products obtained from or through this Clear Channel Website, in whole or in part, without the express written permission of Clear Channel."

Since this was obtained off air (you can hear the sound quality of this file -and also another file from this user -which has the radio station's FCC id, etc.), then it seems exempt.

Furthermore, it is only a small part of the whole, and it's believed this is covered by Fair Use.

Lastly, since many others are posting much more than this small snippet, it seems that it is OK.

Anyhow, here is what the show details:

Comments: I normally don't buy into conspiracies, but this one qualifies.

See also the related clip on this channel.

Student Loan Scam - Fri 27 - Sat 28 May 2011

Host: Ian Punnett
Guests: Alan Collinge
In the first hour, Ian Punnett welcomed the founder of StudentLoanJustice.org, Alan Collinge, who discussed how federal student loans have become predatory, turning a generation into debtor slaves. "It's a socially horrible epidemic," he declared, noting that America's total student loan debt now surpasses the nation's credit card debt. He explained that student loans are particularly pernicious because they contain no consumer safeguards such as bankruptcy protection, statute of limitations, or the ability to re-finance the debt in an open market. As a result of these factors, Collinge said, when a loan is defaulted, it can double or even triple due to penalties and fees.

In looking at the source of the problem, Collinge pointed to student loan advocates and the Department of Education as the key entities that "failed to play their part" in overseeing lending practices. According to him, the DOE has been using a faulty metric to determine the default rate on student loans, thus misleading Congress into increasing the allowable limits on colleges for lending. Additionally, Collinge said, the DOE actually makes "about 22% versus what they pay out" for defaulted student loans. In order to fix the student loan epidemic, Collinge endorsed restoring bankruptcy protections for these loans. Should that happen, he said, "a multitude of problems" will resolve themselves, including an "almost overnight" drop in college tuitions.




http://StudentLoanJustice.org
Student Loan Justice

http://GordonWatts.com
click: Skyrocketing Tuition link



http://GordonWayneWatts.com
click: Skyrocketing Tuition link

http://GordonWatts.com/Higher-Ed-Tuition-Costs.html

http://GordonWayneWatts.com/Higher-Ed-Tuition-Costs.html

http://Gordon_Watts.Tripod.com/Higher-Ed-Tuition-Costs.html

Category:

Education

Tags:

• student
• students
• loan
• loans
• scam
• scams
• coast
• am
• ian
• punnet
• punnett
• finance
• news
• college
• colleges
• university
• universities
• education
• profit
• nonprofit
• non-profit
• us
• debt
• debts
• debit
• history
• alan
• collinge
• adams
• gerard
• tax
• taxes
• finaces
• financial
• conspiracy
• conspiracies
• credit
• credits

[MrDevilsadvocate696]

I would say the main driver for finally collapsing college attendance will be the long term unemployment that negates any justification for kids to go to college...and price.

[GordonWayneWatts]

@MrDevilsadvocate696 -- Yes: Both the price (co$ts) and employment (or lack thereof: UNemployment = BENEFIT$) --are the factors (or addends, to be mathematically & grammatically correct) which decide the case for (or against) college.

[rayme4raw]

My dad couldn't go further at Northrup Grumman without a college degree, but he had 22 years experience in the military and no one could do his job. Now he's retired. I found that I couldn't move up at Honda w/o a BA even though they stated that I needed either a BA or equivalent work experience. My sister has 30,000 in student loan debt, they want to double her minimum payments next year even though she lost most of her income in a divorce this year.

[GordonWayneWatts]

@rayme4raw Your descriptions are proof that the Student Loan industry is NOT out to help the student. - I am sorry to hear of the divorce -america's got the highest divorce rate of all countries on earth -and i hope we can reverse that trend -as well, I hope we can catch up to many other countries who have MUCH lower cancer rates, MUCH longer life-spans, etc -- We've slidden downhill so much as a country -and now, enslaving students with indentured debt servitude. This is horrible. God help us.

[rayme4raw]

@GordonWayneWatts My sister married "Stupid", a lot of people held their tongue while she got married because she'd never been happier. She found out after one year why you don't marry the truly stupid. Cancer has been cured, if you're willing to do the research, you can bypass the $200 Billion a year cancer profit industry. Killing people for money = the American way. The only way my sister is going to pay off student loan debt is if we have hyperinflation.