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Government Gives Away Billions In Grants To Students Who Never Graduate
In "Who Is Stoking The Trillion Dollar Student Debt Bubble?," we highlighted the rather disconcerting fact that in 2014, the US government gave out some $16 billion in loans to students attending colleges that graduated fewer than a third of their students after six years.
As WSJ suggested, accrediting agencies are part of the problem. "One problem may be that the accreditation game suffers from similar conflicts of interest as those which caused ratings agencies like Moody's and S&P to rate subprime-ridden MBS triple-A in the lead-up to the crisis," we argued.
In the end, the disbursal of billions in federal aid to students attending schools where they’re unlikely to graduate is, like lending to students that attend for-profit colleges that the government is fully aware will likely one day be shut down, just another example of the misappropriation of taxpayer funds.
Well, if you needed further evidence of this, look no further than the Pell grant program.
As NBC reminds us, "Pell grants are given to low-income families and, unlike student loans, do not need to be paid back - [they] are the costliest education initiative in the nation."
Well, the costliest until the across-the-board debt forgiveness, but in any event, it turns out that despite the fact that taxpayers have dumped $300 billion into the program since 2000, "the government keeps no official tally of what proportion of those who receive the grants end up getting degrees."
Now, a new report from The Hechinger Report shows that billions in taxpayer money is (literally) given away to students who never graduate. Here’s more:
A Hechinger Report analysis of Pell grant graduation rate data from a cross section of colleges and universities — which is not otherwise publicly reported anywhere — suggests that billions of dollars in taxpayer-funded Pell grants nationwide go to students who never earn degrees.
And while some schools with large numbers of Pell recipients have strong graduation rates for those students, the ones receiving the biggest share of the money often do not.
In a quirk of federal policy, individual institutions do have to disclose the graduation rates of their students who receive Pell grants, when asked. And while some resisted doing so, or released them only in response to public-record requests, the Hechinger analysis of 32 of the largest private and 50 of the largest public universities — and tens of thousands of Pell grant students — shows that more than a third of Pell recipients at those schools hadn’t earned degrees even after six years.
“We’re talking huge amounts of money and huge numbers of people,” said Richard Vedder, an economist and director of the Center for College Affordability and Productivity.
Pell grants cost taxpayers $31.4 billion in fiscal year 2015, more than double what was spent on them in 2007. Since then, the maximum award has increased by more than $1,200 per student per year and the number of students applying for the grants is up by 7 million.
The program has grown so fast that Republicans have proposed freezing the maximum annual Pell award at the current $5,775 for the next 10 years. The money given to the students first goes to the college to pay tuition and fees, and anything left over can be used for books and living expenses. Unlike loans, Pell grants do not have to be repaid, whether or not a student ever graduates.
Most recipients of Pell grants come from families earning less than $40,000 a year.
In January 2014, Congress gave the Department of Education 120 days to produce, for the first time, Pell grant graduation rates for every university and college in the country. The department finally released the months-overdue report in November, but did not break down the information by institution, citing problems with the data, and was only able to analyze 70 percent of Pell recipients. Only 39 percent of the 1.7 million students in its sample earned a bachelor’s degree in six years.
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How do you Pell 'relief'?
When tuition is $60,000 a year, though, shouldn't most fingers be pointing at bloated college budgets, administrators running around doing nothing, etc?
CNN smears Trump with ‘white power’ allegation
http://tinyurl.com/pssdxpq
I guess, better than giving money to people who will never work.
Bankers?
Seven(teen) years of college down the drain!
I once dated a girl like that. She was a 30 something post-grad, completely unemployable due to her borderline personality disorder, and she tended to change her study major every couple of semesters.
She had the student loan and grant system down to a science.
She also liked to play with her pussy while in public settings, just to get a rise out of me. It usually worked.
i remember her
me too! something about about a mack truck and garden hose ring a bell? yah thats her!
Are the grants bread or circuses?
US .gov and Fed have substituted massive deficit spending (budget plus unfunded liabilities gone wild) for slowing population gains.
The link shows the incredible population slowdown accross entire OECD...
http://econimica.blogspot.com/2015/08/the-imminent-demographic-collapse.html
But now the same outcome is global...
http://econimica.blogspot.com/2015/08/young-vs-debtthe-young-never-had-chance.html
http://econimica.blogspot.com/2015/08/population-growth-will-never-be-fix-to.html
The engine for deficit and debt will really have to go into high (hyper?) gear from here if they intend to attempt to maintain the system.
Some of both. It's all about the experience man!
Booze, pot, & sex; you only live once!
Sounds like a lot of my time at Uni!
LONG time ago!
Amateurs
Wait until it's FREE college. Then no one will be able to afford it who isn't having it paid for with stolen money.
Also multiple multi-millionaire essentially CEO Deans and ridiculous endowments.
Cocksuckers and dimwits like Jim Acosta of CNN are the main reason we have such a pathetic and ridiculously bad MSM in the USA.
Anyone not pushing their false narrative is interrupted, cut off or dismissed as an extremist or wingnut.
Fall 2014 admissions data reported by the Los Angeles Times showed that 28.8 percent of California residents accepted to one of nine UC campuses were Latino, bumping white applicants as the second most accepted group…
The accelerating socialism and wealth transfer in America is now pushing race in the university system to counteract the white culture.
Here is how the UC Board of Regents system “reformed” freshman admissions to admit more Latinos and reduce whites to the “second most accepted group”:
“It removes unnecessary barriers like the SAT Subject Tests and sends a welcoming message to a larger and more diverse pool of applicants than UC has previously drawn.”
The UC Regents made all who rank in the top 9 percent of their California high school class (and the high school participates in the UC Eligibility in the Local Context program) eligible for UC admission, no matter the ranking of the high school or its students.
In other words, the Regents opened up opportunities for a new group of high school seniors, mainly Latinos, regardless of that school’s academic standard, and barred from consideration previous groups, mainly whites, that had been based on individual achievement alone.
If universities can admit students by race, what is to prevent them from graduating students by race?
http://www.ucop.edu/newsroom/newswire/img/16/16869702464b9007a6b8c7d.pd
More Latino and womyn's studies students.
The socialist destruction of Clownifornia continues.
If hard working taxpayers don't support university administrators' vacation homes, lexuses, iPhones, plush retirements, etc ... who will?
Simply another group of parasites added to bankers, gubmint employees, FSA, and on and on.
So invest in moar KY, and Ben Dover.
Education is not what happens at these establishments.
The system requires you to have the 'right' pieces of paper in order to be considered for a job.
You therefore are required to sign your life away to debt to obtain said pieces of paper.
The number of pieces of paper required is decided by the 'system'
I hope enough of the upcoming young people see this and opt out.
Based on my kid's friends, a lot are waking up to the madness.
Critical thinking skills and knowledge are what create real things, not having jumped through the 'right' hoops.
Your kid's friends may be awakening, but they have no critical thinking skills.
Unless you think nodding their heads at every thing you say qualifies them as geniuses.
Hey, I majored in Bending AND Robo-American Studies, so show some luv!
"what difference does it matter anyways"
Not as bad as the taxpayer dollars going to support the Palestinian Holocaust...at least these are not killing innocent people.
Close friend just graduated college with an enginerring degree. He looked and looked for a job. Finally got one. $20 an hour to start. He owes over $80,000 in student loans. $41K minus taxes leaves approx $29,000 take home. That is $557 a week take home. After housing, car, food, and all other life expenses....Yikes. And to top it off, he is drawing HVAC systems. He says "I hate drawing heater vents all day". Why would anyone choose this job? Now on the other hand, I know a person that makes $21,000 a day. He works 2 days a week. $42,000 a week is good for him. What is he? A cosmetic surgeon. He does 3 boob jobs a day X 2 days a week. $7K each x 6 clients. A week.... I say no more. People, you deserve EXACTLY what you get. If you are making $30K a year...well that shows the effort and choices you made...right?
he can be making 3 to 4 times that in a decade or so if he quits bitching and applies himself and masters the discipline. (the engineer, not the boob job guy)
Mechanical? I know one, MIT background with a Masters now doing Project Management related tasks.
Like Trump says, stick to tit's and ass. Invent some magic lipstick for these American pigs and you'll be rolling in it.
yes, mechanical. you don't even need a degree to be making 6 figures laying out "heater vents" or designing plumbing systems.
If he's an engineer and got a job he should be thankful. My cousin in Houston said mechanical and petrol enghineers now walk among the living dead, unemployed with little hope in the near future.
It might be wiser to consider an all cash job like electrican, plumber, etc. Of course, competition from low wage Hispanics is getting intense even in those trades. Plastic surgery sounds good but I read that field is getting crowded also since Bush and Barry opened the borders to foreign docs. The good part about plastics my friend tells me is its mostly cash, no insurance BS of Obamacare. Other medical fields are not as lucky.
Clinton's globalization, Bush's war and Barry's community organinzing have taken their toll on the average Merikan.
I got a very experienced drafting buddy that can do that stuff in his sleep part time at half the price.
stfu
Pure nonsense. You be fired and replaced by H1B's long before you get 10 years in.
Oh come on opportunity knocks every day.
May I remind of the posters here who make millions a week on the internet. Access with a click?
Your unfortunate close friend with the engineering degree is having to compete with a flood of H1B visa'd South Asian engineering graduates who have little-to-no student loan debt and are happy to start at $18/hr.
i have not seen that here in the midwest, but Big Corked Boots who works in the field in NYC says that it is a factor there. hopefully I won't see that until I am ready to retire. the asians need to get a masters degree here in the States to get licensed as a professional engineer.
From what I saw, over 80% of the graduate engineering and CS students were Asian. Usually Indian or Chinese.
Any chance of getting a practice set of boobs for the GF ? I'd like a test drive before committing. If it works out I could probably scrape together $3500 For one boob which would work for me if that'd work for the doc. Give him half a day off
Have her do some pr0n on the side, think of it as an "investment!" :>D
C-o-l-l-a-p-s-e.
Surprised? Is a .gov program right?
College now is nothing more than Jewish-Marxist indoctrination and needs to be eliminated for both those who can't afford it and those who can. Its effects on society are evil, and the internet is a better tool anyway for information transfer.
The only fields not dominated by the chosen ones are STEM.
Sun Tsu, although I am a reader and poor student of your namesake, STEM is a JOKE.
There is very little science or mathematics in the program.
You really got to be a plus spinning radical electron to break out of the . gov bog they have created.
Yo, I'm a Quantum Mechanic on the side...
Where is the fucking GAO!
hidng from the ashley madison hack no doubt, cant come out from behind thier desks now for fear of their spouse finding out.
97% gradyeation rate at Harvard.
Harvard has been taken over by Jews who displaced the old WASP elite in the mid-twentieth century. Nowadays Harvard consists mostly of Jews, Asians, and Africans. Whites are not welcome.
I've known some extremely dense Africans that have been admitted to the Ivy League graduate programs.
Officially Barry was born in the US.
Have you ever read Michelle Obama's Princeton thesis?
I made it half-way through the first page of the introduction.
Who has to write a thesis for a Bachelor of Arts in Sociology? From Snopes:
Yet another Princeton underacheiver.
Was she at least on the rowing team?
(arms and shoulders)
Reminds me of a black friend who, after graduating college, came home to no celebration from his family. Meanwhile, the neighbors were throwing a party for their son, who just got home from prison.
I'd sooner read gay Arab novels...in Arabic
Yes, I've read enough to realize that she's an affirmative action graduate, and her scholastic-ship was on par with high school.
And lots of students who did need help got it through Pell grants and they did graduate and did get productive, well-paying jobs. You can always throw out the baby with the bath water but sometimes that baby is really something special and you want to be sure it has every opportunity to be "exceptional".
George Eastman famously said "All human progress depends on education". You only have to appreciate the current stupidity in high places to understand how perceptive Eastman's remarks were. Another famous scientist was Louis Pasteur who said "Chance favors the prepared mind". ZH'ers all need to join the "prepared", perhaps by taking out a Pell grant to help improve their minds!
university education is a bloated bubble. these types of programs contribute to this condition. the for-profit, over-priced diploma mills should be targted and lose funding. they prey on the ignorant and leave them with no prospects and a lot of debt. do you truly care about these people or ar you a shill?
I'm sitting at a dive bar which is mere feet from Eastman's grave
Damn shame what the bean counters and various board members did to his company. Seriously, this end of Kodak Park resembles "Life After People".
Grandpa PHD worked for Polaroid.
Nana PHD worked for NASA.
I feel for youse guys, FF and FD.
I'm from the Government and I'm here to help. This reminds me of the plane loads of cash given out at the end of the Iraq war for construction and repair projects with little to no accountability. Meh! As long as we keep the system going who cares whether it works or not?
Graduation rate at Georgia Perimeter College - less than 10%...Ooops.....not much progress there...not much being prepared, either...
This may not be the case now( my own experience was 10 years ago) but I know a lot of people who went there for a year before transferring to a regular 4 year college, they never graduated from GA perimeter, but most of them did graduate from wherever they transferred to. A few of my friends had parents that made them live at home and go to perimeter for a year or two and maintain good grades before letting them move away for school. Smart move, IMO. Again, may not be the case today, as I know things have changed in the last decade.
"Governments Give Away Trillions in Grants to Students who NEVER Graduate so that Half-Assed 'Professors' and 'Administrators' can FUND their corrupt NEOFEUDAL SOCIETY at a cost to EVERYONE BUT the NEOFEUDALISTS in on the Racketeering".
there, fixed it.
Parents are so proud of thier off springs that they themselves forgot how stupid they were to have had thier kids to party and get laid. Porn future awaits for very many
Exhibit A - wasted Pell Grant. Nice grammar/spelling
"Government Gives Away Billions In Grants To Students Who Never Graduate"
They also give billions more to the MIC, PIC, Israel, and the gun and badge thugs to fund treason and tyranny.
So if I had a choice, I'd go with the billions to students that never graduate.
Or put another way, kill treason, and billions to the MIC, PIC, Israel, the gun and badge thugs, AND never graduating students stops.
Zion is a scheme, not an ethnicity..
The problem is not spending, it is theft, treason, and tyranny--the 3 T's.
The rubes who think they own the US think that they are being smart by getting rid of all welfare programs. They are just bringing on their own destruction.
TOGA!
I am encouraging my son to marry our next door neighbors son. Neither one is gay but it keeps things like sex and children out of the equation vs marrying a girl. Since homosexual marriages are now legal they both would become eligble for pell grants immediately and my income or my neigbors would no longer be counted in the need based financial aid. Once they graduate or find the lady of their dreams they can divorce and move on with their free college education...
While I like the way you're thinking - I'm guessing either you or the neighbor are divorced and the BBQs are getting a bit awkward
I knew the minute that gay marriage passed people would find a way to game it.
I could also see a case where I guy earning decent money could let a student live in his basement rent-free by 'marrying' him and collecting the tax benefits. If we could also create tax tables for n-partner marriages, why not extend this out to half a dozen students so that you owe zero taxes and everyone qualifies for welfare?
We need group marriage (tax benefits) now!
i's wint to's kollege so's i's culd spels betr. i gunna gits a digree to's.
A Mind Is A Terrible Thing To Bake
Huge fraud in government student loan programs, always has been, and some big money knows it and participates, a lot of these big for-profit universities are there ONLY for the fraud, if anyone gets an education and graduates (with a degree in massage) it's nearly an accident.
Government gives away TRILLIONS in FREE USD to the indolent, lazy wealthy.
Schools are not schools, they are loan mills.
get the idiots into loans and grants and financial aid programs and dont let them graduate.... is the name of the game for most of the universites out there... schools are actively pushing propoganda that there is no rush to graduate because ... there are no jobs waiting for graduates anyway lol.....
You want to know if your school is a scam?
Go to the board of your schools parking spot, is there a lambo parked there?
If so, your school is a scam.
If any member of the board of your school is worth more than 5 million in assets.... chances are your school is a scam.
Many students cannot graduate in the what was once normal 4-year period because many “required” courses are not offered every year and the student must enroll an extra year to obtain the courses. This is deliberate strategy by the university.
As for “required” courses:
USCUniversity of Southern California Catalogue 2015/16:
Degree Requirements
Undergraduate degree requirements consist of grade point averages, residence requirements, general education requirements, the writing requirement, the diversity requirement, pre-major and major requirements, and minor requirements.
Diversity RequirementThe diversity requirement must be met by all students who began college at USC or elsewhere in fall 1993 or later. It can be met by passing any one course carrying the designation “m” for multiculturalism. The list of courses and further details about meeting the diversity requirement are found here and here.
https://catalogue.usc.edu/undergraduate/grad-req/
Add into this the fact that most of the books are given a new edition every year, save for esoteric grad school books that have under 500 copies/year in sales. Books are also going for up to $200/copy now.
I failed one class and had to retake, so I put my book side to side with another student's book. Wouldn't you know it; the only thing that changed was the color scheme.
If you take too long enough to finish your 4 year degree, once you are 24 and are considered independent, those Pell grants can kick in pay for tuition. It's kind of ironic that some kids who had 4 years of college paid for by their parents, are then considered "low income" just because they couldn't finish the degree. But that's how the system works!
I paid my own way thru college. My parents helped me by not charging me rent (I commuted to a 4-year state level college). When I gratuated I had a $800 CC balance. It took me about 3 months to pay that off. It took me 5 years but I took Fall, Spring, Summer or worked full time at a grocery store to pay it off. I think I was making $5.25/hr during full time semesters. $4.40 part time.
Obviously writing effectively wasn't a course you passed. You paid your way to a 4 year school, then paid off a CC bill in 3 months. So what was "it" that took you 5 years to pay off? LOL
I worked at a mental retardation facility full time and went to school full time, and had my own apartment. Ok National Guard too, but at the end of receiving BA, zero debt. Ok that was a long time ago in Alabama where cost per credit hour was under $10. Got a bank loan for the last quarter, that's it.
You sure you weren't living in the mental facility?
Never it the history of college education has so much money been available to them. Gravy train of Healthcare and College sure shows up in the cost.
When the money changers control the universities, they transform from institutions of education to institutions of profit.
At the same time they are tranformed into institutions of political correctness and changes in cultural priorities. Hence, there is mass discrimination against whites in the name of diversity in America’s higher education system, both within the student body and by those who control the Ivy Leagues. Diversity, of course, always requires heavy government support, i.e., wealth transfer.
One glaring example can be found at Harvard University. Data Hillel/Princeton Review reports that while “68 percent of the population of America is European American — [Harvard admissions] allowed [only] 20 percent of [white] students.” On the other hand, “Jews are 1.8 percent of college age Americans and given 25 percent of the [Harvard] admissions.
Elena Kagan, as Dean of Harvard Law School before Obama appointed her a justice on the US Supreme Court,” gave more than 50% of faculty jobs to fellow tribalists in a massive example of Jewish racism and privilege in America’s most important law school.” She was appointed head of Harvard Law School by fellow tribalist, Larry Summers.
Ron Unz in his article, “The Myth of American Meritocracy” documents the decline of every ethnic group except Jews at Harvard.
The website Who Controls America reports that “of the twenty-four (24) senior administrators of the Ivy League colleges and universities, twenty (20) are Jews or have Jewish spouses.” http://www.theamericanconservative.com/articles/the-myth-of-american-meritocracy/
https://thezog.wordpress.com/who-controls-the-ivy-league/
And who populates the majority of hard science programs, especially in the preeminent universities? It sure isn't Anglos. So what's the story?
If you’re speaking of Asians, when I was at UC Davis the president of the university was traveling throughout Asia and the world to find and bring back those nation’s best and brightest to educate in place of and in competition with America’s youth. That is discrimination against America’s white population that founded these universities. Nor does it mean that these ethnic groups are better or brighter than whites; it means they were hand selected out of millions of students; in China alone where the UC president was ethnic surfing the population is 1.4 billion people. That American youth should have to compete with all the top students of the world for admission to their own university system is not what the American people had in mind when they established America’s educational system with their tax money and contributions.
Our university system was to be for Americans from whence it gets its national support, local contributions and protection by the laws that Americans established. That American youth have to compete with the world’s top 1 percent for a seat in their own universities after their parents have paid taxes, served in the military and supported the laws of the nation their entire lives is totally out of whack with national sanity.
D@mn, you HAD to bring Sanity into this! :>D
Hillary's $350 billion dollar plan to help college students is needed now more than ever.
I got $5000 worth of grants this year. When you add in the TAA benefits I am going to school for free. Thanks everybody!
If they were successful and became billionaires, they should pay it back.
The hundreds of billions kept probably a few million out of the work force (Unemployment rate) and ingratiated millions to vote for Dems. That's all that matters.
Aren't Pell Grants also given
to Hairdressing schools, truck driver training,
entry level clerical (actually remedial h.s. English), etc.
courses and "schools" having NOTHING TO DO WITH COLLEGE.
The privatized school industry has a strong lobby.
Furthermore, they prey on the poor and uneducated,
accepting students who they KNOW WILL FAIL.
All the profit making school wants is to get paid up front by PELL Grant,
all the better if the students fail or drop out.