Student Loan Business: An Ethical Dilemma in the Credit Crunch

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  presenter06/03/08 Report as spam
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  Business reality & Greater Good

  I really wonder where this line comes from... 'This is a situation where business reality outweighs the greater good' and exactly the 'wrong' attitude to take in these present times. HOW CAN business reality ever outweigh the Greater GOOD? We have seen Business reality strip our Planet of 'free' ores and fuels, all sold through profitable corporations, exploiting their suppliers and fleecing their customers.. that is what happens when business reality 'outweighs' the greater good - or rather, I want more so you have to put up with less.....

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  markoy06/04/08 Report as spam
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  RE: Student Loan Business: An Ethical Dilemma in the Credit Crunch

  I see nothing wrong here, except maybe tying value to the reputation of the institution. Many scholarships require consistent academic performance in order to keep one's grant. Why not a similar approach here? The higher your GPA the more favorable terms you earn on your loan.

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  studioantix@...06/04/08 Report as spam
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  education for all

  Refusing loans to students who are in lower-tier schools or community colleges is unethical because it discourages education for all. One of the greatest aspects of the US is the ability to change your career at any time through education, which isn't an option in other countries. Education is considered a key factor in improving society: better-educated people make better-informed decisions. Furthermore, not permitting students an alternative path to success except through the highest GPA's and the elitest schools promotes a homegeneity that could potentially result in a stagnant society of haves versus have-nots, rather than a diverse, vibrant one with varying strata.

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  Hajnal06/04/08 Report as spam
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  RE: Student Loan Business: An Ethical Dilemma in the Credit Crunch

  Not only is this type of discrimination (based on income) repulsive and unacceptable, but so is the assumption that the better the school, the more likely the students will make more money to pay back the loans. I have student loans, and it turns out, even a high-priced Engineering education cannot provide enough to pay back those loans (with an interest rate twice that of my mortgage), particularly with a young family. Perhaps what was expected of me is to pay those loans for 10 more years and have children well passed 35 (which by the way is not recommended.) No matter how we look at student loans, the core idea is noble (how else would poor people ever get educated?), but the way it is being executed is plain wrong and as I see, things are only going to get worse.

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  bmkosiorek06/04/08 Report as spam
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  RE: Student Loan Business: An Ethical Dilemma in the Credit Crunch

  This is another case of the rich getting richer and the poor getting poorer. How are underpriveleged kids suppose to have any sort of chance at changing their destiny in life if they can't get a good education?

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  d_user_name06/04/08 Report as spam
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  RE: Student Loan Business: An Ethical Dilemma in the Credit Crunch

  The problem here -- nominally the preservation of capital -- is not really, or at least not only, the problem. The problem is we have two yardsticks (education = good, profit = good) and we're, in effect, forcing a for-profit entity to adopt aprofitable ethics. That's contradictory at best and more likely impossible.

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  kstew057206/25/08 Report as spam
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  What????

  Just because a person goes to a community college does not mean that they get lower grades.
  What these lenders are doing is not only unecthical, it is redlining.