[newbamboo]

“The financial aid administrators at Pierce College say it’s not their job”

Make them legally accountable.

Banks can’t assist fraudsters and then say “not my job.” The administrators should be jailed or lending to colleges with this problem should stop.

[throwaway0a5e]

Maybe going all the way to legally accountable is a bit much but the incentive not to waste other people's money is too damn low these days. You see it in every context and it's so frustrating.

[newbamboo]

Why would it be a bit much?

Banks can’t give out fake loans. They try to all the time and are rightfully regulated/fined/charged when they do.

Banks giving out bad loans caused the 2008 collapse. Student loans will one day cause a similar problem but it won’t be big banks going bankrupt, it will be us. Hearing that 20% are obvious fraud doesn’t even surprise anyone. Imagine a bank saying 20% of their loans are fraud but it’s “not their job” to check that loans are given to anonymous recipients who don’t bother to provide even a fake name!

It’s a crime. Like the banks, the people at the top are aware but profit off doing nothing. That they work for the taxpayers just makes it that much more criminal, not less!

[Mountain_Skies]

Interesting aside: Pierce College is where Kevin Mitnick took classes.