Go to School, Get a Loan, Risk Enslavement

I've written twice before about how Government student aid raises tuition rates and increases the debt carried by students. Those articles didn't cover some of the more pernicious dangers of such government help, which was made vivid by a recent movie (Default: The Student Loan Documentary) and Business Insider article about Nick Keith (This Bright-Eyed Young Man Was Utterly Demolished By Student Loans). In short, kids like Nick Keith have been promised a bright future if they spend heavily on education, are loaned the money to fund their tuition, then find that the jobs that result from their education don't cover the bills. Hence, the students are tricked into spending too much money on classes that have no effect on their employability. The schools have an incentive to lie about the effect of their classes, with little downside when they are caught.

Even worse, the funding for the overpriced classes comes from government-sponsored student loans, with high interest rates. Because the government is involved, these loans cannot be discharged in bankruptcy. The combination of high rates and lack of forgiveness means that students that get ripped off by schools that lie can find themselves permanently enslaved to their creditors and to the U.S. Government. Said Kieth: "My life has become a daily swim in a tar pit with very little hope of ever getting out."

Most types of consumer loans are far less risky. Credit card loans, auto loans, home mortgages, and even payday loans can be discharged by bankruptcy. You can get a second chance, and a clean start. It is not painless, but it does end and let's you try again. In contrast, education loans that are entangled by government involvement are permanent. A loan from a loanshark is permanent too. Same thing.

I keep seeing more and more articles about this problem. Here's another:  Indentured Students Rise as Loans Corrode College Ticket

Obviously, education is an investment in yourself, not to be taken lightly as it commits a great deal of time and capital. Now that the government is involved, you risk your liberty as well. Here's how to make education investment decisions the vorpal way.

First, insist that all promises the school makes about your education are in writing. If you cannot get it in writing, then assume that the claim is false. If you can make audio or video recordings legally in your state, do so when the school salesman makes his or her pitch. Let them know that you are making the recording, and that you consider the claims they are making part of a contract.

Second, turn down all government offers of assistance. This means voting against laws, policies, and politicians that make offers of government assistance with tuition. These measures tend to cause huge increases in tuition prices that erase the effect of the supposed financial assistance. Also, if the tuition isn't affordable without assistance, you should be leery that the price is already too steep to be a prudent investment.

Third, if the school has made documented claims about your education that turn out to be false or are substantially misrepresented, file a tort lawsuit alleging that the school committed fraud. You may also file a criminal complaint with your state, as fraud is both a crime and a civil tort.

Fourth, look around and investigate other methods of getting the same education and training. There are very few fields where the only way to learn is via schoolroom training. This is especially true of skilled trades. Our forefathers tended to pass knowledge to junior workers via apprenticeships. If you have a good work ethic, are truly eager and committed to learning a profession, and have even a moderate amount of aptitude for a field, you will be able to find a similar type of paid apprenticeship or entry level training position that will be a much better use of your time and will actually pay you for it.