Dershowitz: Bad Behavior by Schools Helped
Create Student Debt Issue, Harvard Runs,
Charges Like a Huge Corporation
Breitbart Clips,
by
Ian Hanchett
Original Article
Posted By: Imright,
7/16/2023 4:35:04 AM
On Friday’s broadcast of Newsmax TV’s “The Record,” Harvard Law Professor Emeritus and Newsmax Legal Analyst Alan Dershowitz said that the bad behavior of universities is a large driver of student loan debt and even said his own institution has engaged in the same behavior and is “like a mega-corporation and the tuition reflects it.”
After host Greta Van Susteren said that she finds “universities, sometimes, reprehensible.” Dershowitz responded, “Oh, they are.”He added, “When I started teaching at Harvard in 1964, we had essentially a couple of buildings, a few secretaries and administrators. Now, it’s like a mega-corporation
Reply 1 - Posted by:
Venturer 7/16/2023 7:01:24 AM (No. 1513761)
It's a vicious circle. The loans created the higher tuition and the higher tuition creates a larger need for loans.
Colleges are ripping students off and have been for a long time now.
53 people like this.
Reply 2 - Posted by:
Bur Oak 7/16/2023 7:17:33 AM (No. 1513772)
Harvard University has an endowment of $11,300,000,000. They are wealthy enough to cut tuition and greatly reduce or eliminate the need for any student loans.
37 people like this.
Reply 3 - Posted by:
ARKfamily 7/16/2023 7:19:25 AM (No. 1513774)
I understand what everyone is saying here but a student has responsibility in this too. If a person cannot afford to go to a college or university, it is their responsibility to say no to debt. If they truly decide to go down the "debt" road, they will have to work doubly hard to pay it off. What really bothers me about some of the debt with these people is they have very good jobs and having to pay it off is an inconvenience.
I do not understand how a president can now come in an change the terms of a contract. The students signed all the necessary paperwork to receive the monies to afford them going to a college or university and it is their responsibility to manage the payment of it. Joe Biden is trying to buy votes (81 million) and make it easy for these people to get out of their debt. I, as a taxpayer, who went to community colleges and lived in my means had to pay for my own college and now I have to pay for the elitism.
56 people like this.
Reply 4 - Posted by:
privateer 7/16/2023 7:45:05 AM (No. 1513790)
When the Commiecrats impose a wealth tax, will that apply to endowments? Or isn't $11.3 Billion enough to qualify as 'wealth'?
23 people like this.
Reply 5 - Posted by:
franq 7/16/2023 7:50:11 AM (No. 1513793)
True, #3, but this administration is off the rails. They make their own laws. Or try to.
28 people like this.
Reply 6 - Posted by:
hoopsfan 7/16/2023 8:07:43 AM (No. 1513803)
The most recent figure I see for Harvard's endowment is $53 Billion, more than any other University.
18 people like this.
Reply 7 - Posted by:
jnorv 7/16/2023 8:17:04 AM (No. 1513810)
When I was at Stanford in 1964, tuition was $25/hr. It is now well over $1000/hr. That is a 40 to 1 increase. CPI has only increased by a factor of 10 to 1.
19 people like this.
Reply 8 - Posted by:
Dodge Boy 7/16/2023 8:38:32 AM (No. 1513821)
In regard to #3's excellent observations, it's all about votes, control, and manipulation of the human mind.
17 people like this.
Reply 9 - Posted by:
smokincol 7/16/2023 9:20:19 AM (No. 1513843)
there was a time when Harvard was a well respected educational institution, not anymore, it's a huge corporation with a balance sheet that would make IBM envious and to think it started out as a Divinity School but, the 60's changed all that
16 people like this.
Reply 10 - Posted by:
JackBurton 7/16/2023 9:51:18 AM (No. 1513866)
The bad behavior was on the part of Obama. Before him, people got loans from private lenders who exercised some prudence in issuing debt. Once Oboma/the Feds took over all lending, it was Katie Bar The Door.
But, yes, the solution is to make the schools have skin in the game.
16 people like this.
Reply 11 - Posted by:
msjena 7/16/2023 10:07:48 AM (No. 1513874)
#3, I don't think anyone here is saying that those with loans shouldn't have to pay them back. Debt forgiveness is just a band-aid on a broken system that allows 18 (or even 17) year olds to begin piling up massive amounts of debt. The problem started when the Obama administration took over the program and stopped tying loans to need (some are, some aren't), especially at the graduate level. The loans limits for undergraduates are capped at a fairly low level with relatively low interest. It is at the graduate level that things get out of control. There is no need-based requirement so parental income is not considered. Interest rates are high--almost predatory-- and the total loan limit is capped at $138,000. Unless someone is in medical school or a top law or business school, how can they expect to pay back that amount of money on say, a teacher's salary in a reasonable amount of time? We meed to return to the system as it was before, with banks lending the money, guaranteed by the government, and extending the need-based federally guaranteed loans to graduate students with a cap of, for example, no more than $20,000 a year. Let the schools like Harvard lend the rest or give grants to students in need. And students who take out graduate loans in non-professional fields should bear the risk of having to pay back loans they couldn't afford to take out in the first place.
13 people like this.
Reply 12 - Posted by:
snakeoil 7/16/2023 10:33:30 AM (No. 1513884)
At my alma mater the administration's top priority is diversity, money and prestige. And what the campus looks like from Google Earth. They prefer out of state or out of country students because they or someone pays out of state tuition. The main reason for the explosive costs are administrators. Presidents, Vice Presidents (at least 7), Provosts, Deans, etc. Only a small percentage of the employees end up teaching courses. And often times a graduate student teaches the course who can barely speak English. This and other reasons is why the letters I get from my alma mater asking for money end up in the trash can.
14 people like this.
Reply 13 - Posted by:
czechlist 7/16/2023 10:44:00 AM (No. 1513887)
#10 is correct.
Funny, a few weeks ago I heard some young uns in a bar blaming Reagan for their loan debt. That is called college educated stupid
14 people like this.
Reply 14 - Posted by:
Rumblehog 7/16/2023 10:48:30 AM (No. 1513889)
"Oh, Professor Firefly!"
Prof. Dershowitz utters utter blasphemy against the academic establishment and points out the result of Federal government "free money" into the higher education network.
Were it the colleges and universities who had to first "vet" the "student applicant" followed by a commitment to "bankroll" the "accepted student," should it be necessary. No Federal "free money" can be used. If the student drops out, then it's the school who loses, not taxpayers. If the student graduates with a useless "women's studies" degree, and the "graduate" now can't find a meaningful job that allows for repayment of their loan, then perhaps that university might decide to shut down those degree programs with "Studies" in their titles, e.g. "gender studies," or "cultural studies," etc.
There was a time when Universities across our nation were focused primarily on STEM programs when the leftists began screaming about the "possible" deficit of English, History and Ballet majors for teaching positions, etc. Money was pushed into schools to promote "Arts" programs and Federal loans for ANYONE pursuing those degrees. In other words, our "well-meaning" Feds created their own "Little Shop of Horrors" monster, which constantly cries out, "FEED ME!"
10 people like this.
Reply 15 - Posted by:
RussZilla 7/16/2023 11:06:26 AM (No. 1513903)
The loan industry is called usury in the Old Testament. It is equivalent to be enslavement. We become slaves to our debt. As banks fail due to corrupt money laundering schemes, they are also receiving fines in the hundred million dollar level. To name names we have Bank of America, Credit Suisse, and JP Morgan, coming to my mind. While their total fines might add up to $750 million, one third gets sucked up by the government, and the rest is a paltry sum that never is accounted for. It certainly doesn’t go back to the owner of the loan.
It becomes paper money that investors use to make more paper money, which brings the price of food and energy up, enslaving further the consumer. If there was a loan forgiveness program, it should be a jubilee year, as explained in the Old Testament. Loans were to be forgiven, and a year of celebration would be held.
I’m old enough to remember when grocery workers could afford to buy houses. It as difficult to buy my first house when I was in my thirties, todays kids have even less chance of home ownership. We need to rethink the loan interest industry. It shouldn’t be a way for a few to get rich. It should be a step up the ladder for everyday people. It should be an opportunity for prosperity to all, not just the over rich wealthy. A loan is meant to be an opportunity, not a sentence to poverty and dependence.
9 people like this.
Reply 16 - Posted by:
pensom2 7/16/2023 11:15:25 AM (No. 1513908)
Good comments above. #'s 10,11, & 12 are extremely insightful.
2 people like this.
Reply 17 - Posted by:
Strike3 7/16/2023 11:18:23 AM (No. 1513911)
Everyone is led to believe that tuition is the actual cost of an education but less than half of what you pay goes directly to actual education. Unnecessarily lavish facilities, sports programs, swimming pools, "free" students of all types, overpaid, tenured, and celebrity professors that teach few classes, recruitment, publicity, bloated administration, diversity programs, etc. are all financed by the student. College used to be somewhat affordable but now in most courses of study, you can not make enough in salary to justify the expense excluding the actually useful professions where demand is high. The country can only absorb so many AA Studies, Womyn's Studies or Art majors.
9 people like this.
Reply 18 - Posted by:
Zigrid 7/16/2023 11:19:50 AM (No. 1513912)
And so much for the students who paid off their loans...they now have to pay someone else's loans...it's so wrong I can't begin to understand this...except...biden is a rat and rats take care of their voters by buying their votes....
10 people like this.
Reply 19 - Posted by:
felixcat 7/16/2023 12:04:59 PM (No. 1513936)
What are these endownments for? Tax write-offs? Why is any tax payer having to pay for any student's college education when there are billions of dollars in endowments? And if you do take out a loan for college tuition, you have a contractual obligation to pay it back. When I attended a public university back in the early 80s, I took out two loans over two year period and as far as I can recall, the limit was something like $2500.00. Obviously the limits have greatly increased since then. And yes I did pay them back.
6 people like this.
Reply 20 - Posted by:
MindMadeUp 7/16/2023 12:42:19 PM (No. 1513953)
The headline makes no sense.
1 person likes this.
Reply 21 - Posted by:
chance_232 7/16/2023 2:28:52 PM (No. 1514032)
Honestly..... how many career fields truly require a college degree? Engineering, the sciences and maybe medicine. The rest of the career fields should be handled in trade schools. For example,, why on earth would anyone require a bachelor's degree to teach elementary school?
Colleges are a scam to indoctrinate the youth into good little democrats voters and hoover up government provided loans.
5 people like this.
Reply 22 - Posted by:
joew9 7/16/2023 3:05:14 PM (No. 1514050)
At the college I graduated from the tuition has increased by a factor of 5(in constant dollars) during the last 45 years.
Same thing happened with books. Oddly books made a nearly step increase in 1985 while the tuition increase was more linear.
If college cost the same as my 1975 tuition then it would be about $2,000 per year. Instead it is $10,000 per year.
The culprit for this tuition increase is more and more unnecessary departments and bureaucrats.
2 people like this.
Reply 23 - Posted by:
Samsquanch 7/16/2023 4:26:12 PM (No. 1514102)
Havaaaaaad could pay every student's education for the next 30 years from their trust fund alone.
1 person likes this.
Reply 24 - Posted by:
Zigrid 7/17/2023 10:39:30 AM (No. 1514573)
Th student forgiveness by obama/biden is a vote getting ploy...it will never happen with many lawsuits in the offing...but...the rats convince the dead beats that they will help them...and then when it falls through...they'll blame the republicans...it's like the abortion ruling...blame the republicans because they want to protect babies in the womb....if you're determined to kill your baby...it's on you and the father...try stopping at the drugstore for some birth control material....or perhaps controlling your drive....
1 person likes this.
Reply 25 - Posted by:
mc squared 7/17/2023 12:06:16 PM (No. 1514613)
Will I be able to pick which student's loans I have to pay off or is that done by LQGBQTY?
1 person likes this.
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