If you were asked to name the most disturbing thing about colleges these days, you would likely have some serious trouble narrowing it down.
The woke culture, the sky-high tuition, the selling of tech secrets to Mainland China, the anti-semitism of the BDS movement, the useless degree programs, the outrageous quotas used in the admissions process… there’s quite a bit with which to find fault.
But one complaint does rise to the top in both news coverage and political speechmaking: the high cost and complex challenge of student loan debt.
One might think there was nothing new to say, outside of politicians promising to pay them all off with devalued currency and tax increases, but Yahoo Finance found something new and different to highlight on April 2, in a hit piece against Purdue University and its use of Income Share Agreements.
In this article, featured on Yahoo.com and therefore guaranteed considerable national web traffic, reporter Aarthi Swaminathan tells the story of Patricia Feldman and her son, who financed his Purdue engineering degree in part with $40,000 in Income Share Agreements.
According to the article, because he got a terrific job upon graduation, this particular $40,000 sum resulted in a $100,000 repayment. Understandably, the son is underwater, and the mom is furious, expressing her displeasure by firing off angry public emails to Purdue’s president every week. The folks at Yahoo Finance are clearly gleeful at the opportunity to write a hit piece about a soccer mom’s vendetta against Purdue University’s current president.
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