mru student loan trust 2007-a
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President Obama signed legislation to flourish college access for millions of young Americans by revamping the federal student loan enter in what he called "one of the very significant investments in college considering that the G.I. Bill."
A word of caution is warranted here. The student loan program could easily turn into a vehicle for youth enslavement by the US Government.
The share price of large-scale student loan originators like Sallie Mae, Citigroup, JP Morgan Chase and Bank of America will be undercut. Obama desires to move most student lending in the direct-loan program in the U.S. Education Department.
What happens in case a student drops away from school or loses his job before you spend money from the student loan? Federal backed loans presently enable some sort of "Federal Loan Forgiveness".
To be eligible for a forgiveness there are a few very stringent requirements, such as perform volunteer work, perform military service, teach or practice medicine in some varieties of communities and/or meet other criteria specified through the forgiveness program including employed in the fields of public safety, police officers, early childhood education, public health, public education, public library or school library services, emergency management and also the list goes on and on.
The new program run from the U.S. Education Department makes it easier for young adults to enroll in college schools. However, they come in heavy string attached. For one thing, U.S. Education Department is not a standard bank, nor would it be a law enforcer. The law enforcer can be the IRS. The financial burden will be positioned on treasury and its particular finance institutions. The U.S. Education Department will never be to blame for some of their decisions regarding how to award the scholarships.
U.S. Education Department will turned into a totalitarian institution beholden to its own policies as well as the people running the department. It resembles the Communist Ministry of Higher Education which may be the topic informed.
Free education - Communist style
Some social background is essential here. The communist system, by design, provided 100% employment for many fit to operate. For the naive outsider this looked very noble and sure enough, lots of people taken advantage of it, lacking to bother with providing for themselves as well as their families.
Since there is no private business anymore, if someone else was unemployed, the only way to survive was by stealing from the government owned institutions. It was that easy. At least that's what the government feared and rightly so. Even so, theft of construction materials and about anything unavailable through retail, can be smuggled away from factories or any other institutions and sold on the illegal hacking community. The gasoline for trucks, also owned through the government, had the gasoline dyed red. The truck drivers routinely would sell gasoline to private motorists, especially to motorcycle drivers. The government was required to set up police check points on all main roads exiting towns and cities simply to pay attention to stolen gasoline, or even monitor the average person move of men and women.
The educational system was very strict. It was practically impossible to pass through the examination with out a good knowledge of the test subject.
High school was mandatory. Students were able to repeat a failing class just once. Students who did not have a high school graduation diploma were allotted to a trade technical school. The school was run being a training. No disruption allowed and physical punishment was routine. By the time we had arrived in secondary school, nobody dared to disrupt; they knew better. Even so, some teachers would smack you should you didn't shop around or lacked the knowledge throughout the class test. Sick leave needed to be approved through the on-site school doctor or nurse.
Upon graduating senior high school, we'd two options: 1. Qualify and have admitted at the university or 2. Get drafted in the army that has been mandatory (2 yrs.)
High level education only agreed to be available as masters degree (5 years). There was no equal of an excellent. The same in principle as four year college was considered a trade school and didn't carry credits valid towards advanced school. In order to obtain a masters degree, you need to begin with zero, it doesn't matter how years of trade school you accumulated.
One trouble with this educational system was the very limited number of openings available annually. It was not uncommon to see 30,000 candidates competing for 300 seats with the medical school. The polytechnic engineering school were I applied there have been 300 positions and 15,000 applicants. The admission process was quite simple: Five days of written and oral tests. The admission faculty did not consider the high school grades and it is reputation. All senior high school curriculums were identical across the country.
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All technical universities inside country had the admission exam held exactly within the same days and at the same time. All subjects and questions were secret, delivered by individuals through the ministry of education minutes prior to the examination started. None from the examining professors were aware about test beforehand. Each test contains a four hour written, accompanied by an oral on the different pair of subjects.
The 300 finalists (accepted) were the ones using the top average grade according to a lot more than 30 grades accumulated through the admission exam. None with the tests had multiple choice answers. After the newbie, 100 students of my class either dropped out or needed to take all subjects once more, even though they failed one class. Only 150 graduated having a masters degree in electrical / electronics degree after a few years. The grading back then was 1 to 10 with 6 the minimum passing grade. The 300 accepted averaged between 8.66 and 9.88 points.
You might wonder why I am getting into these details.
The point I am trying to make this is this huge competition was due mostly to destruction of most private companies that failed to require talent with this caliber to remain in business. What happened with the other 15,000 minus 300? They were drafted inside the army for couple of years. After those 2 yrs, they will be back and try again either in the same school or a different one where was much easier to get admitted. Otherwise, they might turn out laborers doing work for the state of hawaii owned factories residing in misery.
Graduation and job assignment - The process
Upon graduation a typical number using all of the grades including the thesis was compiled and given to a hiring committee. The committee contains representatives from different ministries who had job openings as defined from the national planning ministry. We were because of the list of openings, 150 jobs just as many as we had been and invited to step up in front on this committee one with a time in the order of our grades using the highest grade first, to pick up the desired job before the list was exhausted.
Did we now have careful analysis decline any in the listed jobs? No, it absolutely was already established through the government the place where you are going to operate for no less than five-years. This was the free education guaranteeing a job.
Unless you're connected, and several of my colleges were therefore was I. We all took our assignments, reported to be effective towards the assigned place and within seven days we exercised a transfer to your desired place that has been not even listed through the employment committee. We were required to get ministry approval so we did.
Not everybody was that fortunate. At least we had been engineers and most of the factories employing engineers were positioned in relatively large cities having a theater plus some social activities available.
Doctors and teachers were essentially the most unfortunate. They were used on small remote villages and needed to stay there for 5 years. It was tough to transfer even when they found a company prepared to hire them. Remember ID national cards? That is how the government kept a record of who and where they will were making it sure they stayed there.
Stalin used this tactic quite successfully. In 1968, while doing work for the Romanian Airline, I spent two months in Tashkent, Uzbekistan when it had been part from the Soviet Union. This was a substantial maintenance facility to the Soviet made passenger aircrafts. The engineering support department was comprised of 35 engineers and technicians, these Russian; not really one Uzbek or any non-Russian.
Tr Cojoc
Tr Cojoc has assembled a number of personal stories about how destructive the communist method is. These are actual stories.
Growing up Under Communism
mru student loan trust 2007-a
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