Dateline Normal, Mn.: Colleges Eliminate Student Financial Aid

Recently I have been hearing all sorts of wonderful stories in the press...about how institutions such as Harvard, and Yale .....have decided to simply eliminate student financial aid entirely. They plan on making this move to make their schools affordable to the middle class. Of course, if someone has a family income of $500,000 they would be required to pay the full tuition of $50,000. After all...they could afford it.

Still...it seemed so radical....and such a wonderful idea. No student loans....No families having to get a Countrywide Loan Combo and then going through foreclosure a few years later when the special mumbo jumbo legal clauses that made the loan accelerate beyond the capability of any consumer invited disaster for sure.

Meditating on these things....as I often do.....I simply picked up the cellphone and called my old country boy lawyer friend in Normal, Mn., ...yes Herman. Herman was on the Normal School Board, and a big wig up in those parts. Even though he did specialize in real estate law, he was a whizz at civil procedure----in fact, he even published a treatise on civil procedure for small towns across the United States. It was a blockbuster that had made him quite a bit of money. It was ghost written, so he could remain anonymous. I trust that you can be confidential because few really know about this. The title of the book...one of my favorites....is called "Billy Bob on Civil Procedure."

It was a cold day ...and the cell phone call when right through:

"Herman....what is your take on the move of some colleges to eliminate student loans?"

"Shucks, Wolfman.(that's what he always called me.) Up here in God's country, we have made student loans and financing of colleges illegal."

His words hit me like a sledgehammer.

"WHAT?"

"Wolfman--ya got to understand. How could knowledge be WISDOM if everyone goes bankrupt getting it?" We aim in our educational institutions to lead by example. And being a PREDATOR is not setting a good example. Thus....all of our buildings are PAID FOR. We are very frugal up here. What really makes a difference is that we provide housing for all the professors and the students alike. They differ in their needs of course. And...it is INCLUDED in their salary.

What a shock!!!!!!

It sure is good to get back to good old Wisconsin. Where we can get knee deep in debt chasing the dream of education that bankrupts the student and the family. It is just the American way. It sure beats living on a cash basis.

It sure is good to be back home.