Biden to cancel debt for people who went to Art Institutes for-profit schools

This has happened before under other administrations when for profit schools have faced fraud charges. When the government says to the borrower that an institution is a credible one and thus will loan money to attend it, the government bears some responsibility when that school turns out to not be reputable and their diplomas worthless.

6.1 billion! And I'm sure it's the tip of the iceberg for shit for profit schools. And even non-profit schools. I hear the Military has wasted untold billions paying for total shit continuing education.

What if you've already paid?

How is an Art Institute degree more worthless than a degree for that crazy bitch at Columbia? “theories of the imagination & poetry as interpreted through a Marxist lens”

She’s a doctoral candidate. What if she took out student loans and declared that Columbia defrauded her with her employment prospects?

Is that like NYU Tisch School of the Arts? And how far back are we talking?

Must be nice

As R1 said, this has happened before. Just within the last couple years, borrowers who went to ITT Tech had their debt canceled. There's no point in envying desperate people without many options who were exploited by fraudsters.

Almost anyone who studied a “practical” visual art- illustration, graphic design, photography - is going to have their career prospects devastated by AI. Even journalism will be affected. Will anyone who majored in those be eligible for loan forgiveness based on retroactive employability prospects?

I have an art degree from a public university. I didn’t use it in my career because an art degree is well, useless. Why am I not entitled to have my student loans cancelled?

I sent 39 cents to "Draw Tippy" and never got my diamond ring.

Oh wow, are these the schools that i would constantly see commercials for on TV? I think they had one in SF city and other places...are those the same ones?

Had no idea they shut down and were accused of being fraudulent.

R8 because you earned a legitimate degree from a real university. You are presumable broadly educated to the Bachelor level, not just in art. You used your brain and the credential to get and keep job. Just as millions of other humanities and arts graduates have done.

This debt forgiveness is for losers who were exploited by fraudsters.

You seem kind of stupid, if you aren't just trolling with your wiseass comments.

This school sounds like a horrible scam. Is University of Phoenix next?

I took Drafting at ICS- does that count?

“Complete your degree or certificate. At home. In your spare time!”

It's akin to a diploma or professional certificate from Trump University. A worthless piece of paper.

How come no one ever wants to talk about millionaire congressmen who got millions in PPP loans forgiven? 🤔

Yeah, let's beat up on the poor people struggling to pay back their student loans 🤨

Someone who accepted a high interest loan to go to a for-profit art school is a “poor student”? A poor student goes to public school.

When I was applying for school it was known that SCAD was a diploma mill. I was accepted but I didn’t go to it because it was expensive and careers in art offer erratic and uncertain employment.

I do believe in student loan forgiveness- but at what point do we draw the line? Did the people who attended AIs (ironic name) not learn skills at their school? Why shouldn’t the lenders pay for the loans instead of the government?

Back in the 70s and early 80s, they were actually learning institutes.

Why is it wrong to help people who were taken advantage of by ripoff for-profit schools?

OP probably supports tax breaks for billionaires

@r17, Fuck you, asshole. Most students who took high interest loans thought they were working toward a better life through education. Surprise, sucker

I drew the girl.

[quote] Most students who took high interest loans thought they were working toward a better life through education.

…via art school?

It was impossible not to know these were degree mills. What about the University of Phoenix? Should everyone who attended there (b/c they can’t get a loan to go to a real school) get their loans forgiven?

People who went to degree mills should have least priority for student loan forgiveness.

The government should never accredit these for profit diploma mills. And I'm pretty sure there are congress members in this industry. So I'm glad that suckered students get loan forgiveness. But it's the same old story. The rich owners of these schools are not reimbursing the 6.1 billion. In the end, it's just another transfer of wealth to the rich. In this case government money, "uncollectible". Fuck that because someone did collect it.

@r22, Do Congressmen who got a $1/2 million in PPP loans forgiven to pay domestic staff deserve to be let off the hook?

Does this mean I get my loans forgiven?

Nobody who takes out loans to go to a for profit school should receive forgiveness before nonprofit school debt holders.

Dude. You pukkkes are so fucked!

Autistic person @ r27 stop making up words.

Ha! You puppy kkkillers are so lost! 😂

Art Institute was totally a scam. SCAD is a reputable school with a history of successful alumni.

It’s not reputable. It had the highest paid college president when this article was written. She made three times the salary of the president of Harvard.

[quote]David LaChapelle, a fine-art photographer and film director from Los Angeles, had never heard of SCAD before last spring, when a friend asked him to speak at a fashion event on the Atlanta campus. In his hotel late the night before the event, he Googled SCAD and found what he called an appalling collection of articles: about Wallace's salary, about the student-loan debt that many graduates carry, about the designers and actors and others who, like him, had been invited to the school for what looked like promotional appearances. “It’s the antithesis of everything I believe in,” LaChapelle said in an interview this fall. “They were just using me and my name to attract kids there, like I am endorsing that school. That is completely false.” LaChapelle fulfilled his commitment and accepted an award: the SCAD Etoile, honoring his “global influence on fashion, film and photography.” But he said he avoided Wallace as much as he could. He chafed at her entourage of assistants, who tried to keep him away from students they had not chosen ahead of time. He ended up giving his award to a child in the audience. “She is an incredibly savvy businesswoman who’s incredibly greedy and self-serving,” LaChapelle said of Wallace. “For someone to profit off these kids’ dreams, that’s really sad.”

I don't disagree with the forgiveness but it's a dangerous game to forgive some debts and not others.

SCAD is a fine school to go to if you have money. But no one should take out student loans to go there. People whose parents couldn’t get them into RISD or CalArts or the School of the Art Institute of Chicago go to SCAD.

Harvard and Yale have endowments in the billions. They are for profit as much as anybody else.

Geez. Some of you cunts really hate people who've had, in all likelihood, harder lives than you have.

No we have people who made bad decisions and are rewarded with cutting to the front of the line in front of people who need it more. There are plenty of people who did not choose to go to for profit schools who deserve student loan forgiveness before these yahoos.

You people get your panties in a bunch that Cubans get special treatment to come into the country. This is even worse because the Cubans didn’t choose to be born in Cuba; these people chose to enter into predatory loans to go to a degree mill.

Wow, I did not know that about the President R31. Doesn’t mean it hasn’t had plenty of successful graduates who have careers in the arts- I work with some. Which was my point in comparing it to art institute which fabricated its job placement rate.

But thanks for the info!

BTW Goldman Sachs used to own a large portion of the Art Institutes parent

r38 essentially 20 grand per person.

OP how do you know everyone who went is a democrat?

R40 how literal are you? What are you, autistic?

Just read the article about SCADs president. That is crazy!

r41 not sure I understand. Are you the OP? It's 317K people. They had campuses all over the US. If we assume the major concentration was in California and New York the move does nothing for Biden. He will already win those states. That 317K would have to be concentrated in a battleground state. If anything it will only be played up conservative (like the OP) as giving away money to win votes.

R34 schools with multibillion dollar endowments make a lot of money off their endowments. True.

Those endowments are NOT created through tuition payments. It's all donations, and the capital increasing through the schools investment fund operations. For profit, but NOT profiting directly from students.

For undergraduate diplomas - the bachelors - MOST of the schools with multibillion dollar endowments are NOT generating a lot of student debt for the bachelor diploma. They have "need blind" admissions and "full financial aid". There are exceptions, such as New York University. NYU for decades did not have full need financial aid and was graduating Bachelor students with extremely high student debt. SHAME!