Tag Archives: education

Financial Corruption and Value Dilution in Higher Education

Posted on 2015 May 13 | Comments Off on Financial Corruption and Value Dilution in Higher Education

I’d been brows­ing through the news recent­ly for a col­lec­tion of arti­cles to share on a rather broad top­ic: the influ­ence of mon­eyed inter­ests on the edu­ca­tion­al sys­tem. This is a long­stand­ing inter­est of mine, hav­ing grown up dur­ing a time when a year in uni­ver­si­ty cost about $1,200, and hav­ing watched tuition rates and liv­ing costs bal­loon expo­nen­tial­ly ever since. But what shocked me into get­ting the links to this post up that much soon­er is this emerg­ing sto­ry from the US:

“The Secu­ri­ties and Exchange Com­mis­sion on Tues­day said it brought fraud charges against ITT Edu­ca­tion­al Ser­vices Inc. and two of its top exec­u­tives, alleg­ing they mis­led investors about the loom­ing finan­cial impact of two bad­ly-per­form­ing stu­dent-loan pro­grams on the for-prof­it edu­ca­tor. […] ITT formed the stu­dent-loan pro­grams to pro­vide off-bal­ance-sheet loans for ITT’s stu­dents in the wake of the finan­cial cri­sis, when the mar­ket for pri­vate stu­dent loans dried up and for-prof­it schools cre­at­ed new ways to help stu­dents pay their tuition bills.”

– source: Wall Street Journal

Let us fur­ther expand on the dia­logue sur­round­ing mon­ey in edu­ca­tion for the ben­e­fit of those who haven’t been as immersed in the debate:

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Reflections on Finance and the Incentive to Budget, Part 1

Posted on 2013 March 07 | Comments Off on Reflections on Finance and the Incentive to Budget, Part 1

Appar­ent­ly my excur­sion from the oth­er day left me laid up a while after­wards, so I’ve been using the time to rest, catch up on cur­rent events, and read up about one of my oth­er peren­ni­al loves: finance.

I can’t men­tion it enough: a great many peo­ple I’ve encoun­tered over the course of my life have great dif­fi­cul­ty doing some­thing as sim­ple as bal­anc­ing a cheque­book. They take on too many bad debts at unre­al­is­tic inter­est rates, they take on finan­cial instru­ments that built with only the short term in mind, they lose track of where the mon­ey goes each pay­day, or they neglect the pur­pose of cre­at­ing and pro­tect­ing a sav­ings. All of these are patho­log­i­cal and may not at first seem to have that much of an impact, but they cause seri­ous dam­age and a great deal of strife in the end.

Worse still are those who cre­ate an arti­fi­cial cri­sis: they cat­a­stro­phize the state of their being to exclude them­selves from scruti­ny, or choose to stay anchored to cir­cum­stances they could extract them­selves from — for exam­ple, mak­ing proac­tive ren­o­va­tions or repairs to a home that’s bleed­ing out mon­ey through exces­sive ener­gy bills each month, instead of putting up with the sta­tus quo.

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Posted in Writing > Current Events, Writing > Finance

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