[thatcat]

A educational program using "your future earnings" as collateral only really has a claim to some percentage of the delta between what you earn and what you would earn without the degree (after 4 years experience), which would incentivize them to not to structure programs in a wasteful manner or misrepresent the future economic value of a given program.

In many cases, that delta is negative. The school and lender should at least be forced to disclose that reality when you're filing FAFSA and taking secured loans.

[scottyah]

First, there's no way to track that.

Second, that doesn't hold true for other assets like mortgages so why would it apply here?

Third, the lender reaaaally should not be telling anyone what career they should do.

Fourth, If the lender and school made no claims that any degree would guarantee extra earnings, why on earth would they need to disclose the opposite? If you saw any marketing copy that claimed you'd be guaranteed more money you can definitely sue for false advertising.

At the end of the day, neither of those industries are guilty of more than helping rumors spread. There may be a specific person who felt ok to lie to you, but it wouldn't make it past their legal department.