Thursday, 19 January 2017

US Government Caught Massively Fabricating Student Loan Default Data

quote [ Many more students have defaulted on their college loans than the U.S. government previously revealed. This stunning admission came last Friday, when the Education Department released a memo revealing that it had overstated student loan repayment rates at most colleges and trade schools. The explanation? the problem resulted from a "technical programming error." ]

Zero Hedge article for people who don't want to deal with WSJ.
[SFW] [Mafia]
[by Ussmak@9:01pmGMT]

Comments

mechavolt said[3] @ 9:32pm GMT on 19th Jan [Score:1 Informative]
So...even though there is absolutely zero evidence they were intentionally fabricating the data, "technical programming error" means "caught massively fabricating student loan default data". I'm gonna wait for the IG report on this one, thanks.

EDIT: for anyone else interested in maybe some objectivity for this story, I'd recommend keeping an eye on this page in the future. Granted, IG investigations can take quite a bit of time, but this is where anything related to this will eventually show up:

https://www2.ed.gov/about/offices/list/oig/areports.html

EDIT2: Here's the actual statement from the Dept of Ed that is a little more detailed than "technical error": https://ifap.ed.gov/eannouncements/011317UpdatedDataForCollegeScorecardFinaidShopSheet.html
kylemcbitch said @ 9:26pm GMT on 19th Jan
I am gonna have to ask for better than Zero Hedge. They are conspiracy theorist cranks. I can not possibly take anything they might have to say seriously, and if the story is true I'd like to?
Ussmak said @ 9:29pm GMT on 19th Jan [Score:-2]
filtered comment under your threshold
kylemcbitch said @ 9:41pm GMT on 19th Jan
https://www.insidehighered.com/news/2017/01/16/feds-data-error-inflated-loan-repayment-rates-college-scorecard

Wow, that was so hard!
bbqkink said @ 9:59pm GMT on 19th Jan
Do hate to even give ZH a click.
Bleb said @ 12:03am GMT on 20th Jan
You were doing a fine job of stating your point, then you tacked on the last word.
captainstubing said @ 9:33am GMT on 20th Jan
While I agree that the way the U.S. does/ finances Higher Ed is fucking mental, and there may well be only very poor returns available to graduates of any number of courses...there is no evidence of actual fraud except in the fevered imaginations of the hacks at ZH and their mouth-breathing readers. And aren't they a barrel of dumb cunts!

Here's hoping that many do not pay back their loans and that tax payers in the U.S. pick up a chunk of the tab...like they fucking should be.

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