OT - Yahoo Finance blasts Mitch Daniels at Purdue over ISAs

[Nitwit]

I won’t try to cut and paste the whole article I just read:

Student loans: Mom slams Purdue ISA offering as son deals with nearly $100,000 in debt​

You can Google it yourself. The point is that Purdue President Daniels is falling under heavy criticism for the private loan (ISA) deals he’s arranged for Purdue students. Not all is as it seems it appears.

 

[BobPSU92]

This is what we’re up against.

 

[GrimReaper]

I won’t try to cut and paste the whole article I just read:

Student loans: Mom slams Purdue ISA offering as son deals with nearly $100,000 in debt​

You can Google it yourself. The point is that Purdue President Daniels is falling under heavy criticism for the private loan (ISA) deals he’s arranged for Purdue students. Not all is as it seems it appears.

Read an article with the headline that you have in boldface. Can't say it was the same one that you read. The "heavy criticism" comes from one mother and a representative of an organization I've never heard of.

So I googled "Back a Boiler" and "Purdue ISA" and the results I got were mostly neutral (descriptions of the program) and some mildly positive. There was no deluge of condemnation.

But Larry the Fish appreciates your efforts.

 

[BobPSU92]

barren to West Lafayette.

 

[91Joe95]

If it's coming from the media it by its very nature requires extensive scrutiny for accuracy. That's just the way they are now.

 

[TiogaLion]

Can't think of any reason to not post a link. It's one mother complaining and essentially saying she, and her son, didn't read the contract that he signed several times. In addition, she thinks it's unfair for lenders to charge interest (my words). She is also stating that the loan (ISA) doesn't have the means to lump sum pay it off. This part doesn't seem to right to me and I'd be surprised if that would hold up in court.

Student loans: Mom slams Purdue ISA offering as son deals with nearly $100,000 in debt

Student advocacy group Student Borrower Protection Center claims that Purdue University's income-share agreement program is problematic, urging the feds to investigate.

finance.yahoo.com

 

[Nohow]

NM, one of the poorest states, gives free college tuition to all. Just sayin it’s what you prioritize.

 

[Midnighter]

The total amount he has to pay (~$99,000) isn't part of the loan principal, it's based on a percentage of his salary, right? Pretty crappy but I remember Yale having a similar program a while ago (which was through the school, not a third party lender).

 

[Nohow]

Time for reinstitution of usury laws for credit card debt and student loans. I know it will never happen, too many lobbyists for the banks and other creditors.

 

[Nohow]

Fact: PA spends $142 per capital on higher education, less than any other state except NH.

 

[LionJim]

Fact: PA spends $142 per capital on higher education, less than any other state except NH.

This is a summary from 2021.

State and Local General Expenditures, Per Capita

www.taxpolicycenter.org