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Message: <blockquote data-quote="Fritz the Cat" data-source="post: 129057" data-attributes="member: 605">Plains said,Oh my, we're a little abrasive this morning.Years ago, a young man bound for college made a loan and the money went through his checking account. The responsibility was on him/her to purchase books and not spend foolishly. But it did happen and lessons were learned. Today that responsibility is no longer required because the money is transferred directly from the lending institution (Bank of ND/fafsa/fedloan/etc.) to the school. The schools have access to grab as much money as they can. For instance, if a kid signs up campus dorm housing it is a contract. $2000 per semester. If the kid can't get along with his roommate and gives notice by Thanksgiving he is moving out Dec. 31 they will say OK. They have time to fill it. They fill it but still ding the kid on the start of the second semester. (He/she signed a contract for one year) Now they are charging two kids. One is living in the dorm, one is not. Double dipping. They have access to the kids account and take the money because the banker doesn't know that the kid isn't living there. A license to steal.Another bad school is the Arts Institute Minneapolis. Overpriced. $28k per year. I know a girl who said it was a joke and quit after 9 months. They said everything would be taken care of. The girl failed to notified the bank to not give them anymore money. They kept drawing money as if she was in school. Even for apartment rental and $100 per month for damages to the apartment. The trouble is these kids don't see the money being drained directly from their own bank account by the schools. Like Mark Twain said, "I never let my schooling get in the way of my education."  Colleges are like any other business. They will take advantage of this system. Is it any wonder these kids are being crushed with insurmountable college debts?</blockquote>

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