By Harry C. Alford
Posted: February 12, 2012 at 05:44 pm
Karl Marx, the Father of Communism (Marxism), would be blushing if he could come up from Hell and look at what the United States Department of Education is trying to pull off on the American public. The power grab began when the economic downturn hit us. The provider of college student loans, SallieMae, was a victim like many other institutions. Like a “duck on a June bug” the federal government pounced on it. It wasn’t long before the US Department of Education became the owner of SallieMae, shut it down permanently and took total control of student lending. It was the beginning of the end for student lending as we know it.
With its new found power, it initiated the “Gainful Employment Rule”. This rule, which is a way around actual Congressional legislation, would calculate loan pay back ratios against students of particular schools. If the formula was substandard than that particular school would no longer be allowed student financing. Thus, a school not meeting the requirement would be destined to destruction. The formula was “cooked” to go against for profit schools like Kaplan, University of Phoenix, DeVry, etc. What is noticeable is the fact that these schools graduate the lion’s share of minority students – particularly Black students. Obviously, this rule will deliver a deathly blow to the futures of millions of Black students and so, we cried foul! The Department of Education didn’t care and pursued this vicious plot.
We caught the attention of Congress, particularly the Congressional Black Caucus. They politely approached the White House about this. Even liberal groups such as Operation Push voiced much concern. Noticing the attention, the Department of Education decided to publish a “study”. The saying “figures don’t lie but liars figure” applies here. They actually had the audacity to present to Congress and the public a study that claimed there would be no disproportionate impact on minorities resulting from the(...)