Pro-Business Not So Compatible With Marriage/Family Values?

7 09 2010

UPDATE from Chronicle of Higher Education:
For-Profit Colleges Spend Heavily to Fend Off New Rule:

“Student aid is the lifeblood of many for-profit colleges, accounting for an average of 77 percent of revenue at the five largest companies, according to an analysis by the Senate education committee. Without access to federal dollars, many programs would be forced to shut down.

. . .The colleges have spent hundreds of thousands of dollars lobbying Congress and federal agencies, nearly doubling their lobbying expenditures over the past year. Some of the most vulnerable companies spent three or four times as much on lobbying in the second quarter of 2010 than in the same period in 2009. One company, Education Management Corporation, spent eight times as much.”

Not so compatible with marriage and family values, and not looking good for the country, either:

. . .She didn’t focus on the bottom line, she said, because it was so profoundly depressing. But as the couple got closer to their wedding day, she took out all the paperwork and it became clear that her total debt was actually about $170,000.

. . .At a time when even people with no graduate degrees, like Ms. Eastman, often end up six figures in the hole and people getting married for the second time have loads of debt from their earlier lives, it should come as no surprise that debt can bust up engagements. . .

Even if disclosure doesn’t render you unmarriageable, tricky questions linger. If one person brings a huge debt to a relationship, who is ultimately responsible for making good on the obligation? And if it’s $170,000, isn’t the more solvent partner going to resent that debt over time no matter how early the disclosure comes? After all, it will profoundly affect every financial decision, from buying a home to how many children Read the rest of this entry »