The cost of higher education in America spirals out of control. Tuition and fees have increased fourfold in real terms in the last two decades, far outstripping the rise in the cost of medical care. At the same time, the quality of instruction plummets, thanks to declining standards, grade inflation, and the hollowing out of […]
Read More
Hardly a sector of the American economy is unaffected by the current recession; however, no matter how painful this period is, it provides an opportunity for many institutions to do the kind of restructuring that should have been done before now. And, fewer segments of our society are in greater need of financial restructuring than […]
Read More
A few weeks ago, I alerted readers to the threat of a tightening of the student loan market . Banks have been bundling student loans, like home mortgages, and selling them as securities. First Marblehead Corporation in Boston has been the nation’s biggest player in “securitizing” student loans, and just like home mortgage-backed securities, the […]
Read More