Greed in Higher Education

Education — what finer calling is there?
Higher education — even better.
My regard for education is so strong — and I am so naive — that I am still surprised when something mars it.
No, I’m not talking about former Gov. Jim McGreevey being hired by Kean University to teach courses to do with ethics and leadership. That is so outlandish as to defy belief. I have a hunch the McGreevey connection that made possible this obvious attempt to boost his state pension will come out.
I’m talking about the scandal over colleges getting paid off to recommend certain lenders for loans to students. There are some $85 billion in college loans out there, and 21 colleges and three lenders have already made settlements.
Some of the colleges called it revenue-sharing. I call it kickbacks.
At the University of Texas at Austin, a key factor in rating loan companies was the quality of the free meals and other perks.
One may be less surprised that the banks would pay off. But colleges...
In some cases, the schools themselves may be innocent, but financial aid officers allegedly received gifts ranging from money to trips in return for pushing certain lending institutions.
It’s the same greed that we see all too often in politicians.
The U.S. Department of Education is supposed to regulate the student loan industry. It apparently hasn’t. Surprised?