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Monday, April 30, 2012


Donald Pay

Please define what you mean by "high student default rate?"

The data I've seen indicates that default rates at private non-profit colleges is around 8 percent, and the default rate at public institutions is under that. The big problem is the default rate at the private for-profit institutions, which has a default rate around 40-50%. The problem here seems to center on the Republican supported for-profit colleges and institutes. Are you ready to admit privatization is not the answer to education?

Stan Gibilisco

"Rent 'em out, and maybe your kid won't have to work."

Four sets of tenants like the ones I've had for the past eight months? Try that experiment, and by the time your kid is ready for college you won't have a pot to pee in. You won't even be able to pee at all.

Two things no one should ever do: Co-author a book and rent out a property. Trust me on these ones. Please.

"I just don't think that flooring the pedal as we race toward the precipice is necessarily the best strategy for securing my job or the future of higher education."

It is if you like to see fur fly and blood flow! Forward! Let the New Revolution begin, comrades!

Ken Blanchard

Donald: fair point. Both public and private colleges can be very fine and very expensive. However, if for-profit universities a higher education debt-bomb by devising ways to soak up billions in government largess, this is problem created by the expansion of federal loans. Our concern is what to do about it. If the incredible increase in the price of college has a lot to do with the dramatic increase in federal funds, the same is true.

Donald Pay

This article points out more likely causes for increased costs to students:


When I attended UW-Madison in the 70s about 50 percent of college costs were picked up by state government. Today the state's share of student costs has dropped to about 25 percent, while students and parents are expected to shoulder more costs. The increase in federal student loans, as well as in private scholarships, simply follows the drop in state resources.

Each college is different. My daughter attended Carleton College with its huge tuition bill. Without considerable grants/scholarship money and a few loans she couldn't have attended. Costs there were high because they wanted class sizes low for more personal student-prof interactions. They also wanted to have a broad-based liberal arts program, so departments with fewer majors weren't chopped for cost-cutting.


Technically, repair is the wrong word. You're coerictrng your credit report. You shouldn't need any kind of format letter to dispute a charge. If you have the information needed, just notify the credit bureaus that Company X is listed on my report showing I owe $ but I have paid off of the company as of XYZ date or the amount currently showing is over # of months old and is incorrectly refelcting my current debt. If you have any back up to prove your statement, then including a copy of it is to your advantage. The bureaus just want you to tell them who you're having issue with and why. They don't need you to list everyone unless you're having an issue with everyone.You can dispute any and all itemson your report whether they be open, closed, charged off, sold, etc. Keep in mind that the amounts reflected on your reports may be 2-3 months behind the current amounts. You can see the last time the account has reported information on your credit report. If you have a car loan that shows you owe $5000 and the company hasn't updated your loan amount since December 2005, you can clearly dispute the amount reflected on your account. The company has 30 days to report or the bureau will drop the item from the report.Problems with answers above is that threatening the companies to either change or remove won't make the companies do anything. The bureaus contact the companies as well. Again, if you have backup, the better off you are. The company won't care how loud you yell or what paragraph of the Fair Credit Reporting Act you quote or what ever you're threatening to do because 99% of threats are idle threats that end up with no action from the person making the threats. I had issues as such in the past and I got resolutions becasue I followed up on my threats. One company rep laughed at me over the phone as I threatened to contact the state attorney general. Told me to go right ahead, do whatever I want. They changed thier tune when I faxed their office complaint paperwork headed for the state's attorney general complete with names, amounts call dates and times, the rep's name and his actions, and the dispute I had etc etc. Faxing over the stamped and addressed envelope didn't hurt either. I got an apologetic call from the rep and got what needed to be corrected done immediately.Also, yes, an account in dispute will have an effect on your score. There are people out there that dispute items and then fill out applications trying to time the removed debt with getting a car loan or mortgage. In the electronic age, it is harder and harder to apply for a loan and hope that the account you disputed hasn't been put back on your report. It's not right, but it happens.

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