Defrauded students to receive loan forgiveness
I have mixed feelings about this in general.<p>On one hand, this is great for the students who were affected. On the other hand, what mechanisms exist to prevent this from happening again? Debt forgiveness in general is a terrible precedent to set.<p>EDIT: Finished reading the AP article. I&#x27;m curious what constitutes harm per Cardona&#x27;s quote:<p><pre><code>  “A close review of these claims and the associated 
  evidence showed these borrowers have been harmed, and we 
  will grant them a fresh start from their debt.”
</code></pre>
Is it the lack of opportunity from the for-profit school? If so there are plenty of non-profit schools that offer useless degrees in the forms of useless&#x2F;impractical majors.<p>Is it the fact that for-profit schools often give out degrees that cannot be transferred to accredited ones? If so there are <i>plenty</i> schools that teach you things that aren&#x27;t really transferrable like fullsail. There are also liberal arts and technical not-for-profits whose classes aren&#x27;t necessarily transferrable between them.<p>Is it questionable advertising of the benefits of the school? Again, not-for-profit accredited schools often skew the benefit of their services as well.<p>I&#x27;m curious how exactly they have determined the &quot;harm.&quot;<p>Pedantically, one could argue easily that any action anyone takes that does not yield a benefit has harmed them. For example Margin Debt is at $800 billion (<a href="https:&#x2F;&#x2F;www.bloomberg.com&#x2F;opinion&#x2F;articles&#x2F;2021-03-17&#x2F;do-margin-debt-levels-predict-a-stock-market-crash" rel="nofollow">https:&#x2F;&#x2F;www.bloomberg.com&#x2F;opinion&#x2F;articles&#x2F;2021-03-17&#x2F;do-mar...</a>) - inevitably that will also lead to some catastrophe. Should that also be forgiven? One could argue that organizations such as Robinhood and Webull have been gamifying the stock market to the point of &quot;misrepresentation&quot; (I don&#x27;t personally believe this, but you could imagine an argument being made).<p>At one point as a civilization we draw the line and let people take responsibility for their own actions? I believe in the matters of life and death we should subsidize, but education? I&#x27;m not sure.